Market Profile - just another indicator?

Here's an example

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?

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

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.

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.

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.

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

FYI our homepage was updated.