Market Profile Software

Quote from mBear:


Sorry, the answer isn't in the software. Nothing against good software. If I were already using esignal, I would pay the extra $7 per month.
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I take it back. After looking at their graphic, I would probably use the esignal data feed, but pay extra for the linnsoft.com software to display the market profile. The esignal mp representation is not that helpful.

With linnsoft, you can switch back and forth from price-time to price-volume. It also automatically computes the present va and poc. Still no rotation factor. :(

http://www.linnsoft.com/tour/techind/profile.htm
 
Mbear:
I appreciate your comment regarding the software. I looked at the linsoft site and found the display interesting. I am not looking for the software to tell me how to interprete the data. I would rather rely on the written exposition of the author (Steidlemeyer) about how to use his concept. What I am more concerned with is the usability, and accuracy of the display. Regarding the comments on support and resistance for 30 minute charts, I have to admit that I don't think of s/r in this fashion. For me, support and resistance are about price plain and simple, on any time frame. I am always willing to learn something new however and will take a look at 30 minute charts to check out your assertion. Thanks, Steve46
 
Here are some new improvements we are making on our Market Profile charts for 7.5 due out in a few weeks:

Market Profile:

• Cursor window now displays Value Area High and low instead of TPH and TPL(per customer feedback)
• Title shows the name of the security as well
• Letters in MP can be configured at user defined time So for example letter "A" can be 7:20 am instead of 7:00 am
• Ability to combine Distributions
• Sub 30 minute Intervals have subscripts
• Color choices for letters
• Point of Control Indicator
• Snapshot Window added

Chuck
Visit us @ http://forum.esignalcentral.com/
 
There are many ways to chart the market activity. Here I attached two very interesting methods published by two "beautiful minds" from different continents. Just look at it if you are interested in scintific work and how it can be expressed. These charts are created without the ChartStyle API which is available for WLD3. You can develop your own unique Chart Styles in WLD3.0. Your custom Chart Style has free reign over the chart canvas, and can even contain bars of variable width (including zero width). An example Point & Figure Adapter is included for download.
 

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I am an Esignal user
Esignal's MP charts are pretty good (better than linnsoft)

Their VP charts could be improved to include multiple days and be broken in to time or volume segments. (linnsoft's is better)

There are some very nice MP/VP EFS studies available that will look at multiple days and sample the most recent time or volume segments.

As Mbear said MP is not a trading system in itself, it is simply a way of organizing data. And ultimately one needs to know how to read that data so that it is applicable to their trading.

There are some very powerful MP and MP theory software programs out there such as;

http://www.emini.org
http://www.tradegraph.com

Support and resistance are all there is, everything else is just a giver of confidence
 
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