Market Profile Plus by bolter
- Thread starter bolter
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dcraig,
What charting software do you use? I like the look of the MP/VP overlays. It really shows a newbie such as myself how MP/VP provides support and resistance.
PaperTrader
My own software written in Java and using the IB backfill and real time feed. It uses the JFreeChart charting library from http://www.jfree.org with some additions (such as the VP overlay), stuff to make it perform well in a real time environment and lots of other things. (IB also use this library for the TWS charts). Reading this thread motivated me to fix up the my VP overlay code which had never really worked.
bolter,
How often do you update your VP analysis? Is this a daily or weekly process?
Paper
How often do you update your VP analysis? Is this a daily or weekly process?
Paper
Gotta love Mondays â right?
My levels for today:
ES 1270.50 1269.50 1261.25
YM 10918 10885 10840
ER2 728.6 727.8 724.0
At this stage we're looking to open a little lower, but we have recovered from the overnight low of 1263.25 on the ES. My previous comments about a lack of interest in this market and the need for support from the cash markets still stand. A solid close above 1270 would probably spur the troops into action. Although in this situation where we are consolidating above the lows, a decent wave of buying will panic fund managers into getting aboard immediately for fear of missing out, and we could have one of those 20 point trend days. On the negative side of the ledger we really need to hold above the 1256-1257 level for the market to retain a healthy tone. 1250 is last ditch support, below this level will get real ugly real fast.
At the moment we are looking to open in the VA just below the POC on the ES. If we open within 1-2 pts either side I generally will remain neutral at the open and set my bias according to the early action. I think you know the drill by now about my bias dictates the trade setups I'm looking for. We have been rattling around these levels for a while so we have plenty of S/R levels. We have strong S/R, the POC and UVA all in the 1268.25 to 1270.50 area, this could be a key battleline today. Below we have S/R at 1264.50 and 1258.50, plus the LVA. Above we have S/R at 1273.75 and a vaccuum at 1277. I think my preferred play at the open will be looking to get short around 1268.25 with a stop above the UVA, and an initial target at the LVA.
On the YM we are looking to open in the VA above the POC, so I'll take a posetive bias at the open. You know the drill â buy pullbacks/support and sell at resistance. Ideally, I'd like to buy a pullback to S/R at 10895 and/or the POC with a tight stop below the latter, with an aggressive target of the vaccuum at 10960, but watching S/R at 10930. Below the POC we also have support at 10815, with a vaccuum at 10840.
Let's see what the market serves up.
My levels for today:
ES 1270.50 1269.50 1261.25
YM 10918 10885 10840
ER2 728.6 727.8 724.0
At this stage we're looking to open a little lower, but we have recovered from the overnight low of 1263.25 on the ES. My previous comments about a lack of interest in this market and the need for support from the cash markets still stand. A solid close above 1270 would probably spur the troops into action. Although in this situation where we are consolidating above the lows, a decent wave of buying will panic fund managers into getting aboard immediately for fear of missing out, and we could have one of those 20 point trend days. On the negative side of the ledger we really need to hold above the 1256-1257 level for the market to retain a healthy tone. 1250 is last ditch support, below this level will get real ugly real fast.
At the moment we are looking to open in the VA just below the POC on the ES. If we open within 1-2 pts either side I generally will remain neutral at the open and set my bias according to the early action. I think you know the drill by now about my bias dictates the trade setups I'm looking for. We have been rattling around these levels for a while so we have plenty of S/R levels. We have strong S/R, the POC and UVA all in the 1268.25 to 1270.50 area, this could be a key battleline today. Below we have S/R at 1264.50 and 1258.50, plus the LVA. Above we have S/R at 1273.75 and a vaccuum at 1277. I think my preferred play at the open will be looking to get short around 1268.25 with a stop above the UVA, and an initial target at the LVA.
On the YM we are looking to open in the VA above the POC, so I'll take a posetive bias at the open. You know the drill â buy pullbacks/support and sell at resistance. Ideally, I'd like to buy a pullback to S/R at 10895 and/or the POC with a tight stop below the latter, with an aggressive target of the vaccuum at 10960, but watching S/R at 10930. Below the POC we also have support at 10815, with a vaccuum at 10840.
Let's see what the market serves up.
PaperTrader,
Good luck today.
I update it daily - because the levels can and do change daily. The trick to constructing a useful VP is figuring out the approriate start date. Don't fall into the trap of always using say a 5 day VP. I wrote some notes on this subject in a previous post.
Good luck today.
I get very different numbers using CQG's MP.
UVA: 5743.0
POC: 5730.0
LVA: 5717.0
IBR: 5724.5-5696.0
I like the look of your charts. Not sure why are numbers are different. Good work.
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