zardoz

If you want to know how your Brain can mess you up there is a good book called Thinking Fast and Slow by Daniel Kahneman (Nobel Prize winner in economics). The book Trading Chaos also tries to address this issue. I did not read all the other posts so if I repeating stuff I apologize. The System2 brain (conscious) does not work well under stress and when under stress the System1 brain (unconscious) influences it. So maybe your system one got you in the trade, but once in and you see your profit dwindling your subconscious alters it beliefs as now it has all these others factors affecting it (fear, greed, what the wife will say...) and starts to encourage bad trading habits. You are under time pressure to make a decision and system 1 ideas leak into your system 2 mind and you make a bad decision even though you had some rational reason for your decision. For me it comes down to this. The more subjective your trading strategy is the more difficult it is to trade it correctly once in a trade. The very fact that you are in a trade changes your subjective perspective and can cause doubt.

In J Dalton's book Mind Over markets he talks about TPO counts above and below the developing POC (not including single prints). He then uses this ratio to see if a short term balanced mkt is more likely to breakout to the upside or downside. Has anyone looked at this? I have just coded this and reversed the ratio so if it is above 1 the mkt should tend to break up. See pics Z

TPO Pro 5 should be able to do it. What I did was make a new indicator and then codied the code from TPO into it. So I had two copies of the same thing. Then I could experiment with code changes without messing up the original. For the Volume histogram I got rid of the letters in the code "ABCDEF.......... " and replaced them with *=*=*= . Then for the inputs I used 0.25 for compress and 15 for len. Z

Thanks for the offer, but where are your pics? Did I miss seeing the the attachment? What are you looking for? Z

Thanks BlowFish, will check it out. I'm also interested in the more traditional MP. Reading Markets in Profile by Jim Dalton and after I getting through the first 60 pages which was mostly review some great stuff followed. I'm happy with my short term charts but I would like to find an indicator to "compress" MP so that I can get several days into one profile. Sometimes when the mkt has been in a range for a few days it is helpful to put those days into one profile. Pic A MP10 is what I have created for Developing Value area (magenta lines) Z

I did not convert the TPO to Volume. What I do is put the TPO on a vol bar chart. The more vol there is at any price the more bars are created and counted. The results match up very well with the e-signals. The TPO ELD gives you the 70% (value Area) and the POC so if you put it on a vol bar chart you get these values for volume. Lower the vol per bar more accurate the results. The magenta lines in the second pic show the developing VAH/L. The dotted magenta line shows POC. Z

I was looking through this thread and was wondering if anyone uses developing VAH/VAL and developing POC for their trading. There are indicators that plot these values as they develope during the day. If this has been address already let me know and I will delete this. Thanks Z

Thanks garp and Crazynas for replying. This was probably not the correct thread to make this inquiry. As for posting the code TPO Pro6.0b, it is pretty much the same as TPO Pro5 and that has been posted to Traders Lab a few times already. If one can't change that to a weekly or multi day profile then it can't be done to TPO Pro6 either. I have some coding experience i.e I created all of Dr Elder's indicators for myself but the TPO is complicated and because I don't know all the limitations of TS or MCharts I don't even know if a weekly MP is possible. Before I spend many days (spent a few hours already) going through the code I would like to know that it is at least possible. The TPO Pro 5 can be easily modified to show developing POC and Value areas even if you don't understand 80% of the code. I went to that site garp and even there it was not clear to me whether or not they can do multi day compressed MP. Z

I was wondering if anyone has found a MP indicator that can create a mkt profile for an entire week. I can do mp for a day or 30 min and even on volume charts but I can't get one that does a whole week. Need one for Multi Charts or Trade Station Thanks Z

I have used a modified version of TPO Pro6.0b on a volume and time chart to get a pretty good market profile going. It even shows the developing VAH, VAL and POC. What I'm looking for however is an indicator that can give me the MP of the week and not just the day or intraday. I want the volume distribution of the entire week, not each day separately. Does anyone know if this has been done on TS or MultiCharts? Thanks Z

Thanks Tams, it was this TL_New_self that I was unaware of. Trade Station does not have this "self" option but as I see MultiCharts does. At least now I know in theory it can be done as I also have MultiCharts. Now I have to modify the indicator "Trendlines Automatic" to work on an indicator. Unless you know of one flying around that can already join the tops on an oscillation indicator. Thanks again. Z

Thanks Tams, Do you have an example of a MultiChart indicator that has that feature? Would love to see the code. Thanks Zardoz

TradeStation's Easy Language can draw (plot) trend-lines on a price chart automatically. I was wondering if TS can also automatically plot trend-lines on an indicator? For instance Is Easy Language flexible enough to allow one to code a trend-line joining two highs of a stochastic plot? If so does anyone have an example? I have coded indicators in Easy language but before I spend time tying to accomplish this I would like to know if it is possible. Any help would be much appreciated. Z