Market Profile - just another indicator?

[mauzj]

There are several Market Profile books. Which Market Profile author are you referring to and what claim did he make?

I read Markets in Profile

http://books.global-investor.com/bo...-Dalton-and-Eric-T.-Jones/Markets-in-Profile/

He makes many claims. One is that if prices rise on high volume, then prices are more likely to continue.

I've been watching intraday charts lately. When prices move, then they almost always move on volume. But that does not move to follow through. And the bars afterwards normally have normal volume.

 

[mauzj]

My question as to why it had been devised remains unanswered except that you hasve to buy the software.

It was devised as a way to estimate the volume that traded at particular prices, as tick by tick data was not available when it was invented.

And you can get free indicators for it on stuff like tradestation or metatrader.

Having said that, I'm not defending it. I am merely analysing it at the moment, but have no idea whether or not it's any good.

 

[Splitlink]

I've just noticed that the image that I downloaded did not work. This is it on a screen shot.

 

[swisstrader]

Re: Market Profile toolset for MultiCharts v6 and higher

Hello Market Profile traders,

if somebody is interested in a Market Profile toolset for daily, weekly, composite and classic MP, search here for more informations:
http://www.1st-tradingtools.com .

Toolset works ONLY in MultiCharts v6 or higher developed by TS Support http://www.tssupport.com/multicharts/ .

Regards,
swisstrader

FYI our homepage was updated.
:clap:

 

[swisstrader]

Re: Market Profile toolset for MultiCharts v6 and higher

Good news for our customers: because of so many sells we'll pay back to much paid amount and sell from now for the new price - €149 EUR per MultiCharts Installation.

-swisstrader

www.1st-tradingtools.com

 

[ValueAreaTrader]

If you're looking for Market Profile levels, try:

www.dailyvalueareas.com

They offer Market Profile levels for different future contracts.

ValueAreaTrader

 

[Extreme1]

I've used mp, it's sh!t. It doesn't give anything, a person may as well trade off daily ranges....PA....SR..., that's about it.

If somebody on here can explain how MP can give any better odds than bog standard PA....then i'm all ears.

Please, don't tell me that i don't understand MP. F*ck me, it's only showing where most SR orders are going in, it's not genius material.

Even NRothschild could get the hang of it....and thats saying something.

I am sorry you don't understand the MP.
Its a bell curve as fundamental to human behavior as your DNA; 1 standard deviation is value : outside this is extremes were you want to buy and sell.

; all behavior follows this you simply buy the low extremes and sell the high extremes.
Bar chart does not give you this price is meaningless without value.


The MP identifies short term extremes, but most people don't realize it also predicts extremes in the future.

MP is not nearly alone you have to use it with other indicators; idealy market generated indicators = volume, market facilitation, reversal /continuation patterns etc. , not derived lagging indicators like moving averages, etc.

Don't you know the 80% rule?

Rejection at one end of the bell ( dongs on one side means it will cross almost 80 % of the time to at least near the other side to dong or even break the bell and shot out with a high multiple level return to risk; in direction of trends and using volume data you make this much higher probabilty the 80% .

Read

Steidlmayer on Markets: Trading with Market Profile ...


Mind Over Markets
Author: James F. Dalton, Eric T. Jones, Robert Bevan Dalton
Markets in Profile
Author: James F. Dalton, Eric T. Jones, Robert Bevan Dalton





Maybe someone else can help you more.

Best of Luck;

Extreme1

 

[Splitlink]

I am sorry you don't understand the MP.
Its a bell curve as fundamental to human behavior as your DNA; 1 standard deviation is value : outside this is extremes were you want to buy and sell.

; all behavior follows this you simply buy the low extremes and sell the high extremes.
Bar chart does not give you this price is meaningless without value.


The MP identifies short term extremes, but most people don't realize it also predicts extremes in the future.

MP is not nearly alone you have to use it with other indicators; idealy market generated indicators = volume, market facilitation, reversal /continuation patterns etc. , not derived lagging indicators like moving averages, etc.

Don't you know the 80% rule?

Rejection at one end of the bell ( dongs on one side means it will cross almost 80 % of the time to at least near the other side to dong or even break the bell and shot out with a high multiple level return to risk; in direction of trends and using volume data you make this much higher probabilty the 80% .

Read

Steidlmayer on Markets: Trading with Market Profile ...


Mind Over Markets
Author: James F. Dalton, Eric T. Jones, Robert Bevan Dalton
Markets in Profile
Author: James F. Dalton, Eric T. Jones, Robert Bevan Dalton





Maybe someone else can help you more.

Best of Luck;

Extreme1

Would you explain to me why the theory has to be transferred to a bell chart with letters
denoting each bar? To me, a simple bar chart gives the same information, ie. the number of bars that get cut by the same price denotes fair value. Only one extreme, the one against the trend, is the correct side to enter. That has to be deduced by the trader, so we get back to the argument that the correct identification of direction is the key to profitable trading. This, I do as well on a bar chart as by MP.