|Released Date:||9/16/2015 12:00:00 AM|
The volume Tracking feature allows traders to follow volume activity at each price for each profile period. It provides traders with an ability to view volume activity and volume changes at each price level as they occur in real time.
This indicator highlights increased volume activity and identifies significant increases in volume traded at the bid or the ask. Thus giving traders the ability to analyse the market auction process as it happens. This powerful feature allows traders to accurately pin point appropriate trade entries and exit points.
Boxes are drawn to indicate significant volume ( volume which is more than 1 standard deviation from the average for the exact same daily period over a specified period of time. ) Smart money leave their footprint with big volume at specific price ranges and this feature tracks their activity at each price level. This feature alone could change the way you look at market.
All Statistical data related to volume analysis are shown on the text window for all periods plotted on the screen.
The Volume Profile feature displays the market profile based on volume only. A single push on the keyboard space bar will give you access to this feature.
The Volume Profile can be shown alone or as a TPO overlay.Against each price on the vertical axis you will typically see a bar that represents the number of contracts traded for this price level.
The logic behind market profile teaching is that the more time spent at a price level, the more significant is that price.This is exactly what this feature tries to display - volume distribution -.
The Composite Volume feature allows traders to display a volume profile to the right edge of the chart.
It provides a composite of market activity for a specific desired period. It allows traders to evaluate and contrast each day's profile structure relative to a larger weekly or monthly composite profile. It offers the ability to view the big picture in tandem with current market activity.
There are a lot of ways that you can display this composite volume profile. You can group many days together with the date option ( From and To ), or you can apply the last rolling week , or rolling month. You can also display x number of profiles. All these options allow the possibility to include or exclude the current profile.
In short the Composite Volume feature will give you the possibility to analyse complex total composite volume in the most efficient way possible in the context of the actual market conditions.
Why not look inside candlestick. How this big down engulfing candle has been created in terms of volume ? Was the big volume traded at the top, middle or bottom part of the candle ? This is a dimension that you need to know to interpret candlestick patterns the right way.
This feature will plot the volume profile associated with each candle giving you inside depth knowledge about what's really going on. This combinaison gives the unique ability to study candlestick patterns in combinaison with their volume related movement.
The Key Reference lines feature is a group of the most significant levels drawn from the profiles themselves.
It automatically draws and identifies key reference levels for possible support or resistance points. In addition, these levels may also be used to identify targets and areas for possible stop loss placements. These levels are identified based on profile data and prior market activity.
These important price levels are designed to continuously update and adjust based on market changes as they occur.
Here are some reference features :
These key reference lines can be combined with other Market Map features like the VWAP or Exteme Zones to create significant cluster levels of support or resistance.
The VWAP feature allows traders to plot the Volume Weighted Average Price as well as 1, 2, and / or 3 standard deviation lines on your Market Map chart.
The VWAP is followed by almost all traders and is utilized frequently by major portfolio managers as benchmark to gauge their trading performance. Many pension funds, and some mutual funds, fall into this category.
The aim of using a VWAP trading target is to ensure that the trader executing the order does so in-line with volume on the market. VWAP is often used in algorithmic trading.
Used in conjonction with Key Reference lines and Extreme Zones will give you great insight into potential significant support and resistance areas.
This feature is based on many analytical works from market profile authors like Dalton.
Based on range extension of the preceding market profile adjusted by the market conditions - trend, balance etc- extreme zones can be forecasted and projected for the current trading day. Combined with Key Reference lines and VWAP lines these zones take even more importance and can be monitored for big reversal moves.
The market profile day type is the foundation behind the Market Map Extreme zones. We would recommend strongly the reading of Dalton's excellent book Mind over Markets to understand the logic behind this indicator.
This feature allows traders to display the Dalton studies. Dalton studies are key Market profile patterns based on Jim Dalton teaching.
Here are the patterns displayed by the Dalton studies :