Market profile

Trader_Herry · Aug 27, 2006

Is there any charting software available which provide/show market profile?
Hopefully this charting software can receive data from IB.

Comment on your choice, if possible.

List as many as possible so I can pick my best choice.

Thank you.

Trader333 · Aug 27, 2006

None that I know of that takes IB data, have you considered paying for an appropriate data-feed that will do this ?

Paul

Trader_Herry · Aug 28, 2006

Trader333 said:
None that I know of that takes IB data, have you considered paying for an appropriate data-feed that will do this ?

Paul

If it is affordable, yes.

nine · Aug 28, 2006

TH ... why do you ask questions on ET then a while later ask the same questions on T2W?

ourbobby · Aug 28, 2006

Trader_Herry said:
Is there any charting software available which provide/show market profile?
Hopefully this charting software can receive data from IB.

Comment on your choice, if possible.

List as many as possible so I can pick my best choice.

Thank you.

Yes there is:- www.sierrachart.com They do market profile studies and interface with interactivebrokers

Trader_Herry · Aug 28, 2006

Kiwi said:
TH ... why do you ask questions on ET then a while later ask the same questions on T2W?

To hear advice on both forums.

the_seeker · Aug 28, 2006

Yes: I use Sierra Charts (www.sierrachart.com). It's a popular package - I know, I Know, I'm starting to sound like an advert. But, They've just a added a pretty decent MP study option, and since sierra works with IB, it's probably as good an option for you as any.

Trader_Herry said:
Is there any charting software available which provide/show market profile?
Hopefully this charting software can receive data from IB.

Comment on your choice, if possible.

List as many as possible so I can pick my best choice.

Thank you.

alan5616 · Aug 29, 2006

You could consider the new version of Market Delta, due for release on 12th September or,
J Charts. Both links are available on IB Home page (software).

dandxg · Aug 29, 2006

Slightly off topic, but related, I was talking to a veteran trading about diffferences between Market Profile and Volume Profile. He felt VP was more accurate and useful than MP, because MP's flaw is that you can get a TPO with 1 contract traded, as I recall him saying. If that's true MP would seem to have inherenent problems as 1 contract traded is insignificant. VP would show by volume traded so it should be more useful. This would be IMO more useful for dynamic S and R areas. I am interested to hear feedback.

Dan

dandxg · Aug 29, 2006

Regarding Sierra and IB, I tried them for several months. IB's data is sometimes flaky IMO. I recall Kiwi likes it, and I am glad it serves Kiwi well, but it didn't backfill sometimes and doesn't show every tick, as I recall it only display changes in price. You might want to look at opening an account with TransAct and integrating to Sierra Charts.

Dan

passive · Aug 30, 2006

why not try the approach used by whoever it was on ET that rolled their own volume profile with excel.
i've done something similar in the past with gnuplot over here: http://www.trade2win.com/boards/showthread.php?p=235729#post235729

Trader_Herry · Aug 30, 2006

passive said:
why not try the approach used by whoever it was on ET that rolled their own volume profile with excel.
i've done something similar in the past with gnuplot over here: http://www.trade2win.com/boards/showthread.php?p=235729#post235729

How to do it via Excel?

Trader_Herry · Aug 30, 2006

dandxg said:
Slightly off topic, but related, I was talking to a veteran trading about diffferences between Market Profile and Volume Profile. He felt VP was more accurate and useful than MP, because MP's flaw is that you can get a TPO with 1 contract traded, as I recall him saying. If that's true MP would seem to have inherenent problems as 1 contract traded is insignificant. VP would show by volume traded so it should be more useful. This would be IMO more useful for dynamic S and R areas. I am interested to hear feedback.

Dan

Thanks for mentioning Volume Profile as well.

Personally I think they show different details about the relationship of volume and price. If you know how to make use of them, they are useful. Otherwise not.

Market profile

Trader_Herry

Member

Trader333

Trader_Herry

Member

nine

Senior member

ourbobby

Newbie

Trader_Herry

Member

the_seeker

Newbie

alan5616

Established member

dandxg

Junior member

dandxg

Junior member

passive

Junior member

Trader_Herry

Member

Trader_Herry

Member

Similar threads