The Flow Method and Market Profile

A

AW10

Well-Known Member
#17
#17
In above MktProfile chart of NIFTY and 3iInfotech, notice the speed at which price moves after getting the break from Value area.

E.g NIFTY price action on 28th and 3rd was boring, as price did not leave the value area.
This is the time when market is trend less.. and most of the trend following systems will be hitting stoplosses..

But look at the other 3 days, during 2nd half of the day, What a move. Thats when riding the trend is best rewarded. Thats what gives us low risk, high probabilty and high profit target trades.

Same is true for 3i Chart as well. On day 1, price action is within the range.. but on Day two, it left the value area...and observe the price action... That would have been the dream trade of any trader ?

Happy Trading.
 
A

Ank!t007

Active Member
#18
#18
vvvv said:
nice job seagul.
can u share with us the various MP indicators needed in ami
Click to expand...
Code: 
_SECTION_BEGIN("Price");
SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));
Plot( C, "Close", ParamColor("Color",colorTurquoise), styleNoTitle | ParamStyle("Style") | GetPriceStyle() ); 
_SECTION_END();

_SECTION_BEGIN("Market Profile");
//Market Profile
GraphXSpace = 5;
SetChartOptions(0, chartShowDates);

//===========================

Den = Param("Density", 40, 10, 100, 10);
ShowMP = ParamToggle("Show MP", "No|Yes");
ShowVP = ParamToggle("Show VP", "No|Yes");
StyleMP = ParamStyle("style MP", styleLine, maskAll);
StyleVP = ParamStyle("style VP", styleLine, maskAll);

//===========================
BarsInDay = BarsSince(Day() != Ref(Day(), -1)) + 1;

//===========================
NewDay = Day() != Ref(Day(), 1) OR Cum(1) == BarCount;

//===========================
Bot = TimeFrameGetPrice("L", inDaily, 0);
Top = TimeFrameGetPrice("H", inDaily, 0);
Vol = TimeFrameGetPrice("V", inDaily, 0);

//===========================

Range = Highest(Top-Bot);
Box = Range/Den;
VolumeUnit = Vol/BarsInDay;

for (k = 0; k < Den; k++)            // loop through each line (price) starting at the Lowest price
{
	Line = Bot + k*Box;
	detect = Line >= L & Line <= H;

	if(ShowMP == True)
	{
		CountMPString = IIf(NewDay, Sum(detect, BarsInDay), 0);
		CountMPString = Ref(ValueWhen(NewDay, CountMPString, 0), -1);
		MpLine = IIf(CountMPString >= BarsInDay, Line, Null);

		Plot(MPLine, "", colorGreen , styleMP);
	}

if(ShowVP == True)
	{
		CountVPString = IIf(NewDay, Sum(detect*V, BarsInDay)/VolumeUnit, 0);
		CountVPString = Ref(ValueWhen(NewDay, CountVPString, 0), -1);
		VpLine = IIf(CountVPString >= BarsInDay, Line + Box/4, Null);
//		Plot()
		Plot(VPLine, "", colorBlue, styleVP);
	}
}

Title = "{{NAME}} - {{INTERVAL}} {{DATE}} {{VALUES}} - \\c04 Market Profile  \\c06 Volume Profile";
_SECTION_END();

Ankit
 
Last edited:
S

Satyen

Well-Known Member
#19
#19
Hi Segul Great initiave dont know single word of market profile but got interested as you mentioned that it can be help full for flow trading ... even i have not down loaded the book you have provided in your first page ....

Before that plz explain bit more about market profile how this can be used in flow method in laymans language hope you consider

Regards
Satya
 
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