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I have this Market Profile EFS file for eSignal that allows you to select the number of days back to look and then the number of bars forward. It also allows you to select an offset period so that large overlays (ex. 20 days) can be moved forward and viewed without having to scroll back. I am not a programmer, and have no idea how difficult it is to convert this to a Metrader study, but I am posting it if someone is interested. I will copy the code and post it in a word document, and also try to post it as a zip file. I will also post a screen shot from eSignal.
Thank you for the indicator Beluck. I was just looking for it Have you ever had this feeling that the price is going to go up or down from being close to an S/R level? I think this could be a good confirmation of such a feeling what a feeeeeeeeliiin'
One quick q. what do the colors mean?
Sorry, I see now
Last edited by DanielTyrkiel; 06-09-2006 at 05:30 PM.
Market Profiles are extremely interesting, but I have yet to see one available for the SpotFX markets. Im not sure one even exists in MT4 platform. Although, I have seen on here one that is a basic graph chart but not a real market profile chart (Based upon alphbetic charts).
TO THE PROGRAMMERS: You all might find this very very interesting. In fact, this might be a project one of the coders on the boards, may find a little tricker then others. Im not sure, the above coding is correct, it proabably is, but I will look thru and see if I can find a similar code. However though, I dont think its possible to code market profile in MT4. You need alot of space and area to create the graphs from the data. It essentially is an entire graph replacing the bar charts.
BUT, IF ANYONE TAKES A STAB AT IT, MY HATS OFF TO YOU.
Has anyone noticed a strong correlation between reversal points and Prive-Volume-Time interactions? I would think only a weak correlation would exist, and only on the extremes. (less volume = greater chance of support/resist line). The most effective support/resist have 0 trading, because they are never touched...
What would be the purpose of this? Volume over time would tell me when the Over The Counter market is open.
Has anyone noticed a strong correlation between reversal points and Prive-Volume-Time interactions? I would think only a weak correlation would exist, and only on the extremes. (less volume = greater chance of support/resist line). The most effective support/resist have 0 trading, because they are never touched...
What would be the purpose of this? Volume over time would tell me when the Over The Counter market is open.
High volume = price acceptance, often it trades back (support/resistance) to these prior day(s) levels
The shape of the profile can teach you a lot too. short- or long covering etc etc