The Flow Method and Market Profile

[uasish]

This methodology of approaching 'Price Analysis' is still one of the Best Product of 21st Century TA.
The best Teacher this Forum has on this subject is 'Jesse'.
This approach is New & have to be learnt as Chemistry though being science subject but different from Physics.As i am zero in this subject hence eager to learn but this much i have understood it is not so easy like few Areas in chart.

 

[kkseal]

Finally some pivots for grown-ups at TJ

 

[solacefanatic1]

_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();

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

Ankit

The aforesaid code is generating the following type of charts in AB.
I tried every parameter and density level but to no help.

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could anybody tell me how to get charts of MP like the following one?
(i use daily and weekly timeframe for analysis).

The above example on the chart.

 

[prakashreddy]

The aforesaid code is generating the following type of charts in AB.
I tried every parameter and density level but to no help.

[/URL][/IMG]

could anybody tell me how to get charts of MP like the following one?
(i use daily and weekly timeframe for analysis).

Most probably you are viewing daily charts. Have you tried intraday charts? Try 30 minute chart or hourly chart. You must be able to see the chart with market profile.

 

[Piyush Singh]

Pls. mention what parameters are to be set for the 15 mt chart to display as in the above snapshot.
Are both"show mp", "show mp" turned to "yes"?
What is "style mp" & "style vp"?
I have tried many combinations but am not getting similar display on relcap 15 mt chart!

 

[prakashreddy]

Pls. mention what parameters are to be set for the 15 mt chart to display as in the above snapshot.
Are both"show mp", "show mp" turned to "yes"?
What is "style mp" & "style vp"?
I have tried many combinations but am not getting similar display on relcap 15 mt chart!

Please answer the following question.

1. Are you using IEOD file of EOD file?

To get intraday charts you must use IEOD data, i.e. tick or 1 minute or 5minute data.

If you are using IEOD data, i.e. if you have imported IEOD data in to your database, then change the view to Intraday chart (15 minutes or 30 minutes chart). Thereafter, insert MP. Open the parameters and turn show MP to yes.
If you have turned showVP also yes, then both will be appearing together, i.e. one over another. You may not be able to distinguish between one another. So I would suggest to insert MP twice, i.e. in two seperate lower window and turn MP on and to VP off in one window and in the other window turn off MP and turn on VP. To illustrate the point I have attached the screen shot of reliance capital. The earlier chart posted in this thread has price also overlaid on MP window. If you want, you can do that. But if you want a clear view of MP and VP picture, do as I have shown here. See the image (clickon the image to see the full view)

 

[Piyush Singh]

Prakash, I am using RT data with 5 day IEOD backfill. I get the point of using VP & MP in two seperate panels. But I find the chart referenced by me better. If both VP & MP are plotted together in that chart, what should be the "Style MP" & "Style VP" settings, in the "Parameters" window.
I hope that I am clear enough, thanks for replying!

 

[HEM]

dear Segul,
very good and important stuff.

Hemant

 

[segul]

This is exactly what we call "trying to make a beautifully working system perfect".
There are many useful things we read in books. While reading them, we appreciate them. But, later on we do exactly opposite.

Now, don't we know that trying to make a system perfect is the best way to ruin it? Then, why are we trying? Are we trying to search a holy grail system.
Sunil

Sunil,
I donot know ur talking about MP or the flow method.But whatever it is I completely disagree with ur views. If ur talking about MP I am not doing anyting opposite to the rules.Its just the UVA and LVA varying 5-10 points here and there which is working for me! If its about flow method, if one understands what I am going to tell I am sure it will help them.

MP is so versatile that it can combine with any strategy ur working with to give a better result and as I told before it will help u in the decision making process which in turn will help in understanding ur strategy better! So i am trying to bring MP into Flow Method and not trying to search "HOLY GRAIL" dude.

Regards.

 

[segul]

As described by Segul We only keep the level which has not been touched by market on consequent days aka Virgin POC.Market sees it as support or resistance level.

Ankit

Yes Ankit Virgin POC and not only that,many times the value area of this POC gains more importance to let us know what kind of market we are dealing with.Will try show a chart of a recent market activity in the week end.

Regards.