Volume Profile and Market Profile a new wave of market picture
- Thread starter XRAY27
- Start date
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Principles of trading !!!
1. Price is always a function of Supply & Demand - Regardless of the market.
2. Changes in Supply and/or Demand effect changes in Price.
3. Changes in Order Flow precede changes in Price.
" Smart Money" when they trade in an electronic market, their transactions get recorded in real-time. Thus, they leave a footprint that can be analyzed,this analysis is also called "DOM" study ..Depth of the market (DOM)
This part is already dealt by one of our member MT4trader in his thread..go through that ---------- OFA
1. Price is always a function of Supply & Demand - Regardless of the market.
2. Changes in Supply and/or Demand effect changes in Price.
3. Changes in Order Flow precede changes in Price.
" Smart Money" when they trade in an electronic market, their transactions get recorded in real-time. Thus, they leave a footprint that can be analyzed,this analysis is also called "DOM" study ..Depth of the market (DOM)
This part is already dealt by one of our member MT4trader in his thread..go through that ---------- OFA
Last edited:
Code:
_SECTION_BEGIN("MarketProfile");
SetChartOptions(0,chartShowArrows|chartShowDates);
//------------------------------------------------------------------------------
//
// Formula Name: Market Profile
//
// Use with 5/15min chart
// Originial - From AFL library
// Edited by - Milind / KAKA
// AFL Modified by Rajandran- code works good in 5min, 15min, 30min timeframe
// Code is Compatible with Amibroker 5.8 and above
// Letter A now repeats for first 30 min, Letter B next 30 min so on
// Multiple Repeating Alphabets Horizontally to be fixed in 5min and 15min
//Market Profile 9/12/2009
PlotOHLC(Ref(O,-1),Ref(H,-1),Ref(L,-1),Ref(C,-1),"Price",colorBlack,styleNoLine);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g", Ref(O,-1), Ref(H,-1), Ref(L,-1), Ref(C,-1) ));
EnMP2= ParamList("MarketProfile","Letters|Solid|Lines");
styleLines = ParamStyle("Style", styleLine, maskAll);
Type=ParamList("Type","Price Profile|Volume Profile");
Period= ParamList("Base","Hourly|Daily|Weekly|Monthly",1);
Den = Param("Density", 3, 0.25, 100, 0.25); // Resolution in terms of $
percent=Param("Value Area", 70, 1, 100, 1);
ViewTPOCount= ParamToggle("Show TPO Count", "No|Yes",1);
ViewPOC = ParamToggle("Show POC", "No|Yes",1);
ViewVALVAH = ParamToggle("Show VAL VAH Line", "No|Yes",1);
Viewfill = ParamToggle("Show VA Fill", "No|Yes",1);
Colorpoc=ParamColor("Color POC", colorYellow);
Colorfill=ParamColor("Color Fill", ColorRGB(20,40,60));
EnIB = ParamToggle("Show Initial Balance", "Yes|No");
IBBars = Param("Initial Balance Bars", 2, 0, 10, 1);
if(Period=="Daily"){
BarsInDay = BarsSince(Day() != Ref(Day(), -1));
Bot = TimeFrameGetPrice("L", inDaily, 0);
Top = TimeFrameGetPrice("H", inDaily, 0);
Vol = TimeFrameGetPrice("V", inDaily, 0);
}
if(Period=="Hourly"){
BarsInDay = BarsSince(Minute() != Ref(Minute(), -1));
Bot = TimeFrameGetPrice("L", in5Minute, 0);
Top = TimeFrameGetPrice("H", in5Minute, 0);
Vol = TimeFrameGetPrice("V", in5Minute, 0);
}
if(Period=="Weekly"){
BarsInDay = BarsSince(DayOfWeek() < Ref( DayOfWeek(), -1 ));
Bot = TimeFrameGetPrice("L", inWeekly, 0);
Top = TimeFrameGetPrice("H", inWeekly, 0);
Vol = TimeFrameGetPrice("V", inWeekly, 0);
}
if(Period=="Monthly" ){
BarsInDay = BarsSince(Month() != Ref(Month(), -1));
Bot = TimeFrameGetPrice("L", inMonthly, 0);
Top = TimeFrameGetPrice("H", inMonthly, 0);
Vol = TimeFrameGetPrice("V", inMonthly, 0);
}
CurTop = HHV(H,BarsInDay+1);
Curbot = LLV(L,BarsInDay+1);
Range = Highest(Top-Bot);
TodayRange = Top - Bot;
AveRange = Sum(Top-Bot,30)/30;
LAveRange = AveRange[BarCount-1];
// Initialization
baseX = 0;
baseY = floor(Bot[0]/Den)*Den;
relTodayRange = 0;
firstVisBar = Status("firstvisiblebar");
lastVisBar = Status("lastvisiblebar");
D=.0005;
total=0;
totaldn=0;
totalup=0;
shiftup=0;
shiftdn=0;
startr=0;
for (j=0; j <= 100; j++) {
x[j] = 0;
}
i0 = 0;
i1 = 0;
for (i=0; i<BarCount; i++) {
if (BarsInDay[i] == 0 AND i < firstVisBar) {
i0 = i;
}
if (BarsInDay[i] == 0 AND i >= lastVisBar) {
i1 = i;
}
}
i1 = BarCount-1;
for (i=i0; i<=i1; i++) {
if (BarsInDay[i] == 0) {
baseX = i;
baseY = floor(Bot[i]/Den)*Den;
maxY = floor(Top[i]/Den)*Den;
relTodayRange = (maxY-baseY)/Den;
for (j=0; j <= relTodayRange; j++) {
x[j] = 0;
}
}
range_x=lastVisBar-firstVisBar;
spread = Param("X Space", 112, 1, 200, 1);
tpl = Param("Time Per Letter (mins)", 30, 1, 360, 1);
Intervalmin=Interval()/60;
flt =Param("First Letter (Bars)", 1, 1, 60, 1);
teb=ParamToggle("To Each Bar","No|Yes");
Color=Param("Color Threshold",20,1,50,1);
stopg=0;
stopr=0;
new=0;
Voloumeunit=Vol[i]/LastValue(BarsInDay);
if (EnMP2 == "Letters") {
for (j=0; j<= relTodayRange; j++) {
if (L[i] <= baseY+j*Den AND H[i] >= baseY+j*Den) {
//PlotTextSetFont("", "Arial", 6, BarCount-1, Close[ BarCount - 3 ], colorGreen, colorDefault, -20 );
//PlotTextSetFont("C", "Arial", 40, 100, 100, colorGreen, colorDefault, -20 );
PlotText(StrExtract(" A , B , C , D , E , F , G , H , I , J , K , L , M , N , O , P , Q , R , S , T , U , V , W , X , Y , Z, a , b , c , d , e , f , g , h , i , j , k , L , m , n ,o , p , q , r , s , t , u , v , w , x , y , z ",
IIf(BarsInDay[i]<flt,0,floor(BarsInDay[i]/(tpl/Intervalmin))-0)), baseX+IIf(teb==1,BarsInDay[i],x[j]*(range_x/spread)), baseY+j*Den,
colorWhite,ColorHSB(10+((floor(BarsInDay[i]/(tpl/Intervalmin)))*Color),160,140));
x[j]++;
//PlotTextSetFont("", "Arial", 10, BarCount-1, Close[ BarCount - 3 ], colorGreen, colorDefault, -20 );
}
}
}
else if (EnMP2 == "Lines" OR EnMP2 == "Solid") {
for (j=0; j<= relTodayRange; j++) {
if (L[i] <= baseY+j*Den AND H[i] >= baseY+j*Den) {
if(Type=="Price Profile"){x[j]=x[j]+1;}
else if(Type=="Volume Profile"){x[j]=x[j]+round(V[i]/Voloumeunit);}
}
}
}
// Draw Initial Balance after 11am bar is complete
if (BarsInDay[i] == IBBars AND EnIB == 0) {
Line1 = LineArray(i-2, curtop[i-1],i+7, curtop[i-1],0,True);
Plot(Line1,"",colorLightGrey,styleLine+styleDashed|styleNoRescale);
Line1 = LineArray(i-2, curbot[i-1],i+7, curbot[i-1],0,True);
Plot(Line1,"",colorLightGrey,styleLine+styleDashed|styleNoRescale);
}
// Examine x[j]
if ((i < BarCount - 1 AND BarsInDay[i+1] == 0) OR i == BarCount-1) {
maxXj = 0;
maxj = 0;
for (j=0; j<= relTodayRange; j++) {
if (maxXj < x[j]) {maxXj = x[j]; maxj = j; StaticVarSet("Maxj",j); new=j;
}
}
for ( n = 1; n <= relTodayRange; n++ ) {
total[n]=x[n]+total[n-1];
}
Value_area=(total[relTodayRange]*percent)/100;
for ( a = 1; a <= relTodayRange; a++ )
{
if(Maxj-a>0 AND Maxj+a<relTodayRange)
{
if(MaxXj+total[Maxj+a]-total[Maxj]+total[Maxj-1]-total[Maxj-(a+1)]>=Value_area) {shiftup=a; shiftdn=a; break;}
}
else if(Maxj-a<1 )
{
if(MaxXj+total[Maxj+a]-total[Maxj]+total[Maxj-1]>=Value_area){shiftup=a; shiftdn=maxj-1; break;}
}
else if(Maxj+a>relTodayRange )
{
if(MaxXj+total[relTodayRange]-total[Maxj]+total[Maxj-1]-total[Maxj-(a+1)] >=Value_area){shiftup=relTodayRange-maxj; shiftdn=a; break;}
}
}
Vah = LineArray(baseX, baseY+(maxj+shiftup)*Den, i, baseY+(maxj+shiftup)*Den,0,True);
Val = LineArray(baseX, baseY+(maxj-shiftdn)*Den, i, baseY+(maxj-shiftdn)*Den,0,True);
poc = LineArray(baseX, baseY+maxj*Den, i, baseY+maxj*Den,0,True);
if(ViewVALVAH==1){Plot(Vah,"",ParamColor("Color_VA", colorLightBlue),styleLine|styleNoRescale);
Plot(Val,"",ParamColor("Color_VA", colorLightBlue),styleLine|styleNoRescale);}
if(ViewPOC==1){Plot(poc,"",Colorpoc,styleLine|styleNoRescale);}
PlotText(""+(baseY+(maxj+shiftup)*Den),i-5,baseY+(maxj+shiftup)*Den,colorWhite);
PlotText(""+(baseY+(maxj-shiftdn)*Den),i-5,baseY+(maxj-shiftdn)*Den,colorWhite);
if(ViewTPOCount==1){PlotText(""+total[maxj],basex,bot[i]-(Top[i]-bot[i])*0.05,ParamColor("Color_VAL", colorLavender));
PlotText(""+(total[relTodayRange]-total[maxj]),basex,Top[i]+(Top[i]*0.0005),ParamColor("Color_VAH", colorLavender));}
if(ViewPOC==1){PlotText(""+(baseY+maxj*Den),i-5,baseY+maxj*Den,Colorpoc);}
}
if (i < BarCount - 1 AND BarsInDay[i+1] == 0 OR i == BarCount-1) {
for (p = 1; p < relTodayRange+1; p++){
line = LineArray(baseX, baseY+p*Den, baseX+x[p], baseY+p*Den);
line2 = LineArray(baseX, baseY+(p-1)*Den, baseX+x[p-1], baseY+(p-1)*Den);
if (EnMP2 == "Solid")
{
PlotOHLC( Line, Line, Line2, Line2, "",IIf(p>(maxj+shiftup),ParamColor("Color_VAH", colorLavender),IIf(p<=(maxj+shiftup)AND p>(maxj-shiftdn),ParamColor("Color_VA", colorLightBlue),ParamColor("Color_VAL", colorLavender))) ,styleCloud|styleNoRescale|styleNoLabel);
}
if (EnMP2 == "Lines")
{
Plot(line,"",IIf(p>(maxj+shiftup),ParamColor("Color_VAH", colorLavender),IIf(p<=(maxj+shiftup)AND p>(maxj-shiftdn),ParamColor("Color_VA", colorLightBlue),ParamColor("Color_VAL", colorLavender))) , styleLines|styleNoLabel);
}
}
if(Viewfill==1){PlotOHLC(Vah,Vah,Val,Val,"",Colorfill,styleCloud|styleNoRescale|styleNoLabel);}
}
}
_SECTION_END();
_SECTION_BEGIN("Gradient Backfill");
SetChartBkGradientFill( ParamColor("BgTop", ColorRGB( 0,0,0 )),
ParamColor("BgBottom", ColorRGB( 0,0,0 )),ParamColor("titleblock",ColorRGB( 192,192,192 )));
_SECTION_END();Just remember three points which are universal for any method
1. Price has memory. What did price do the last time it hit a certain level? Chances are it will do it again.
2. Big volume kills moves. Climax blow-offs take both buyers and sellers out of the market and lead to sideways action.
3. Don't create so many rules that you are confused,many traders ended there career with this
---------------------------------Just practice this theory of MP/VP with your method for better results---------------------------------------------------
1. Price has memory. What did price do the last time it hit a certain level? Chances are it will do it again.
2. Big volume kills moves. Climax blow-offs take both buyers and sellers out of the market and lead to sideways action.
3. Don't create so many rules that you are confused,many traders ended there career with this
---------------------------------Just practice this theory of MP/VP with your method for better results---------------------------------------------------
Ram, this is the AFL which will work for you. My Ami version is 5.5.2, so I am using different AFL [Here][http://www.wisestocktrader.com/indicators/473-market-profile
Other option is web based charts by marketcalls, updates with 5 min refresh
http://www.marketcalls.in/market-profile
Other option is web based charts by marketcalls, updates with 5 min refresh
http://www.marketcalls.in/market-profile
Last edited:
For 17 August
YDVAH : 8664
YDVAL : 8626
YDPOC :8602
YD Range :8698-8601
VPOC (Virgin POC) : 8595 & 8626 :thumb:
Today's open at 8646 : Inside value area, big chances of balanced day. Responsive activity expected. More can be said after 1 hour of trade and formation of IB.
Wow I am writing like an ANALYST
Right XRAY Bro?
YDVAH : 8664
YDVAL : 8626
YDPOC :8602
YD Range :8698-8601
VPOC (Virgin POC) : 8595 & 8626 :thumb:
Today's open at 8646 : Inside value area, big chances of balanced day. Responsive activity expected. More can be said after 1 hour of trade and formation of IB.
Wow I am writing like an ANALYST
Right XRAY Bro?
Last edited:
For 17 August
YDVAH : 8664
YDVAL : 8626
YDPOC :8602
YD Range :8698-8601
VPOC (Virgin POC) : 8595 & 8626 :thumb:
Today's open at 8646 : Inside value area, big chances of balanced day. Responsive activity expected. More can be said after 1 hour of trade and formation of IB.
Wow I am writing like an ANALYST
Right XRAY Bro?
YDVAH : 8664
YDVAL : 8626
YDPOC :8602
YD Range :8698-8601
VPOC (Virgin POC) : 8595 & 8626 :thumb:
Today's open at 8646 : Inside value area, big chances of balanced day. Responsive activity expected. More can be said after 1 hour of trade and formation of IB.
Wow I am writing like an ANALYST
Right XRAY Bro?
Last edited:
For 17 August
YDVAH : 8664
YDVAL : 8626
YDPOC :8602
YD Range :8698-8601
VPOC (Virgin POC) : 8595 & 8626 :thumb:
Today's open at 8646 : Inside value area, big chances of balanced day. Responsive activity expected. More can be said after 1 hour of trade and formation of IB.
Wow I am writing like an ANALYST
Right XRAY Bro?
YDVAH : 8664
YDVAL : 8626
YDPOC :8602
YD Range :8698-8601
VPOC (Virgin POC) : 8595 & 8626 :thumb:
Today's open at 8646 : Inside value area, big chances of balanced day. Responsive activity expected. More can be said after 1 hour of trade and formation of IB.
Wow I am writing like an ANALYST
Right XRAY Bro?
i am using afl given in post no 24 (on 15 minute chart) my values are slightly different
YVAH = 8664
YPOC = 8622
YVAL = 8602
can somebody explain why this difference is there in values.
thanks,s
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