Value Areas - dValueArea

[DeanV]

Here's a (quickly developed) Weekly version if dValueArea. I've only done basic function testing with it, so make sure you've saved your environment (incase if locks up and you have to crash out).

Calling this "dValueAreaWkly". Use it on intraday charts.

[cclsys]

Originally Posted by DeanV

Here's a (quickly developed) Weekly version if dValueArea. I've only done basic function testing with it, so make sure you've saved your environment (incase if locks up and you have to crash out).

Calling this "dValueAreaWkly". Use it on intraday charts.

Thanks, nice!

[meyer99]

Dean,
Thank you for this great indicator.
In the indicator parameters only open hour is listed, no closing. Does this mean that if I am running a 24 hours chart (12 am to 12 am), the indicator will measure 9 am to 9 am (if 9 is the open hour selected)?
And it will measure Monday to Friday prior week only, for both evolving VA and VA?

[DeanV]

Originally Posted by meyer99

Dean,
Thank you for this great indicator.
In the indicator parameters only open hour is listed, no closing. Does this mean that if I am running a 24 hours chart (12 am to 12 am), the indicator will measure 9 am to 9 am (if 9 is the open hour selected)?
And it will measure Monday to Friday prior week only, for both evolving VA and VA?

Short answer: Yes.

The start time and day is where the "week" starts. It then continues for the number of days specified (5 default, would end at the start time on the 6th day). To adjust for Open Hours, you need to set the chart up to display only the open hours. The Pre-Session stuff is only useful to see how the previous week worked out on the week-ends or something (perhaps not that useful for this appllicaiton, since the evolving stull will show that).

The Evolving stuff is always the current (not completed till the next week gets a few bars), so could change with every new bar (till the week complete on Sat. or whatever). The normal plot lines (POC, etc.) always will be showing the previous weeks results.

Hope that helps.
Dean.

[meyer99]

Dean,
Thank you. Whenever you tweak the code again, would it be possible to add the H, L and C of the prior week only (no evolving). But C should be Friday at 4:15 for equities, and if you are really ambitious 2:30 for crude. Thanks again.

[NinjaTrader_Vincent]

Hi,

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I have DeanV's last post here in response to 'meyer99':

'meyer, That's a different application, so won't be doing that here.
Feel free to take this code and modify it for what you want.'

[Double D]

I've been trading futures only a couple of years and am interested in learning how to use market profile in trading. Can you direct a newbie to a link or two that teaches how to use MP? Thanks. The indicator looks interesting, can't wait to try it.

[Eternum]

Originally Posted by Double D

I've been trading futures only a couple of years and am interested in learning how to use market profile in trading. Can you direct a newbie to a link or two that teaches how to use MP? Thanks. The indicator looks interesting, can't wait to try it.

http://www.futurestrader71.com/

[DeanV]

Originally Posted by Double D

I've been trading futures only a couple of years and am interested in learning how to use market profile in trading. Can you direct a newbie to a link or two that teaches how to use MP? Thanks. The indicator looks interesting, can't wait to try it.

There are a lot of resources around about this method. Various ideas on how to use it. This is simular to but not exactly like "market profiles". One of the books I have is "Steidlmayer on Markets" by J. Peter Steidlmayer and Steven B. Hawkins. Do various searches on this site and internet on word combo's like: market, value, profile, map, area, etc. and you'll find a lot of info to filter through.

A few web sites that also have related info (if these links are still good) are:

http://www.enthios.com/price_histogram.htm

http://www.secretsoftraders.com/ValueAreaHelpGuide.htm

http://www.elitetrader.com/vb/showth...hreadid=127181

There are also various commercial versions of this type stuff. Some offer a lot more detail than this app. They also can have clues on how they use this type info. One if the key's is to find a method and version of this that helps you trade your personality style.

[Double D]

Thanks for the help.

[kumar]

Dean,

Great contribution to NT users.
Is the volume distributed equally across the bars or does the indicator collect the actual tic data (at least for the current day)?

If you ever plan to make changes to the indicator, I would suggest that the VPOC for any day should be plotted over that days profile, not extended over to the next day and along the same lines, it would make a chart (when one is looking at profile over several days) if the VPOC lines were terminated at the session and not shown as step-lines.

In any event, thanks for providing the indicator.

[silvester17]

Originally Posted by DeanV

Here's a (quickly developed) Weekly version if dValueArea. I've only done basic function testing with it, so make sure you've saved your environment (incase if locks up and you have to crash out).

Calling this "dValueAreaWkly". Use it on intraday charts.

thank you very much for this great indicator.

maybe I'm doing something wrong, but it looks like poc,vat and vab are not plotting the right values. believe vat should be poc. and vab is kind of low.

thanks again

[hegh2000]

hello,

value of POC is correct.
For VA_t and VA_b, depending on the method of calculation. Here, it is the volume, so if you compare it with TPO (price only) is certainly different.

[silvester17]

Originally Posted by hegh2000

hello,

value of POC is correct.
For VA_t and VA_b, depending on the method of calculation. Here, it is the volume, so if you compare it with TPO (price only) is certainly different.

I'm looking at TPO. POC is 1104.75 (I believe it should be 1108.25)
Vat is 1108.25 (I believe it should be 1113.25)
Vab is 1084.85 (I believe it should be 1098.00)

edit: I'm talking about the "weekly version"

[DeanV]

Silvester, I believe your seeing the difference from the previous week (concluded) and the evolving numbers.

Assuming you've setup chart for openhours only and no weekends, the plot lines (concluded previous week) won't conclude this past weeks stuff, till we see a few completed bars after today's (monday) open. Then the program will know the previous week is done, calc., and plot last weeks stuff. You can see what the open will look like by looking at the evolving lines (perhaps still missing the last bar in the calc.).

I looked this AM on a 15 min. chart, and the numbers looked as expected to me.