Market Profile - just another indicator?

This is a discussion on Market Profile - just another indicator? within the Technical Analysis forums, part of the Methods category; Originally Posted by pboyles Use yesterdays value area high and value area low as support and resistance. Here's an example...

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Old Aug 1, 2010, 2:28pm   #17
Joined Oct 2006
Re: Market Profile - just another indicator?

Quote:
Originally Posted by pboyles View Post
Use yesterdays value area high and value area low as support and resistance.
Here's an example
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Old Aug 12, 2010, 4:52pm   #18
 
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Re: Market Profile - just another indicator?

I've just finished reading the book, and am wondering whether or not there is any validity to the author's claims. Does anyone know if there are any academic studies that analyse Market Profile?
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Old Aug 13, 2010, 6:44pm   #19
 
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Re: Market Profile - just another indicator?

There are several Market Profile books. Which Market Profile author are you referring to and what claim did he make?
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Old Aug 13, 2010, 7:48pm   #20
Joined Nov 2001
Re: Market Profile - just another indicator?

In February I got interested in MP for the second time and plotted the prices on Excel. Here is the chart.

As you can see, each day showed a trend on the previous day, but so does a bar chart.

The fair value is clearly visible but I can find that on a bar chart much easier by drawing a line where it cuts the most bars.

If there is something here that I am missing, please tell, because I gave it up.

My question as to why it had been devised remains unanswered except that you hasve to buy the software.
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Old Aug 13, 2010, 9:59pm   #21
 
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Re: Market Profile - just another indicator?

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Originally Posted by SLink View Post
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/boo...ts-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.
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Old Aug 13, 2010, 10:01pm   #22
 
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Re: Market Profile - just another indicator?

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Originally Posted by Splitlink View Post
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.
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Old Aug 14, 2010, 5:03am   #23
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Re: Market Profile - just another indicator?

I've just noticed that the image that I downloaded did not work. This is it on a screen shot.
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Old Aug 21, 2010, 11:48am   #24
 
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Re: Market Profile toolset for MultiCharts v6 and higher

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Originally Posted by swisstrader View Post
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.
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