Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

PointHarvester

Historical MP Day Types and Open Types?

Recommended Posts

Hi,

 

Does anyone know of a database of historical day types and opening types for the ES and maybe other symbols? I would like to use it to support some statistical analysis.

 

Similarly, has anyone tried to create a measurable definition of each of the types so that day type / open type identification can be automated?

 

This site starts to articulate some rules, but stops short of a set of rules that could be implemented:

http://www.mypivots.com/investopedia/details/116/market-profile-day-types

 

 

Thanks,

pH

Share this post


Link to post
Share on other sites

I have the data but regret it is only available to my website members. I am always willing to learn from those with greater statistical analysis skills and especially from those whom have programming skills but am open to suggestions

Share this post


Link to post
Share on other sites

Everyone always thinks that if they can get some type of statistical edge on the number of days that we get certain day types that he will have a trading edge. it would be better to come to an understanding about the forces that cause the days to look the way that they do... namely the order flow that changes the structures. And to be more precise, to see the imbalance in the order flow because that is what caused the price movement.

Share this post


Link to post
Share on other sites

pH, is there a statistical hypothesis you're trying to prove? A correlation of serial day types?

 

I can download about 5 months of 30-min OHLC bars from eSignal (I think CQG users can get longer history).

 

Do you have IF-THEN-ELSE-like programmable rules that define the classic MP day types?

 

Do you need something more detailed than 30 minute OHLC bars?

Share this post


Link to post
Share on other sites

I am also working on the same concept. I have coded few open types but those codes I found are little rough especially those types where we need to see previous support/resistance areas. EX. Open Test Drive, here market test previous support to check if there is any buying interest remain and afterwords it goes up. Now to see what was the support area previous day is challenging to code. So I have just added today's opening price action. Here is an example for open drive

 

inputs:timeopen(0945);
vars:od(0);
od = (h-l)*4/5 ;
condition1 = (h-l) >= ((o - l) + od) and
time<= timeopen;
condition2 = close>open and (h-l)> average((h-l),10);
condition3 = low> low[1] + ((h[1]-l[1])/2) and c >c[1];
if condition1 and condition2 and condition3 then
value1 = text_new ( date, time, open, "OD");

 

It's coded in MC. When you apply on the chart and open drive conditions are true then Text will print below the bar ( Text : OD )

See if the logic is correct, would post other codes for other open types.

 

While going through statistical details about type of open and market trend I have found market takes at least 2 hour to establish which type of open is it. If we tried to make assumptions based on first half an hour then it is not that accurate ( Theory says first half or 1 hr )

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • @sxiqxx, Well done on making your first post a promising strategy. @everyone, post up if you want this coded into an EA. Although I switched to TradeStation, I still have an active MT5 demo with MetaEditor. I can code it without referencing object oriented programming which should be retroactively compatible with MT4. Let me know...
    • Please allow me to retort (in jest): RESPONSE 1 : Get a job supervising others where you're in control of performance reports and ride those others 100%. This makes your performance 100% with little to no effort.   RESPONSE 2: Feel free to piss off your boss but stay nonviolent. When the side effects of his viagra and testosterone boosters cause him to physically assault you, you have the legal upper hand. This can result in a boatload of trading capital.   RESPONSE 3: Feel free to have intimate relations with your boss if she finds you attractive. Rest assured that mum's the word because once again, you have the legal upper hand. This can also result in a boatload of trading capital.   RESPONSE 4: Don't be fake friends with any enemies... unless you need information from them. Being fake friends with everyone will cause you to become an empty shell of a person with no direction in life.   REPONSE 5: Get your boss to become reliant on your performance (really, just the performance of your subordinates), and then plan an "overheard" conversation wherein you fake an interview with another potential employer. You'll probably get a pay increase or a promotion.   RESPONSE 6: If you can give your 75% percent to a project, give 50% and rely on your legal upper hand(s). Learn to write trading algo's during your other 50%.   RESPONSE 7: Take all of the office boys out to nightclub where you merely sip soft drinks on a weeknight. Upon your return to the office in the morning, inform the security guards that all of the office boys are intoxicated. Your boss will love you for it.   RESPONSE 8: Never try to prove your client wrong or find faults in their processes, but do secretly collect their information in case you jump ship or "someone you know" decides to start his own company.   RESPONSE 9: Never stay in a firm for too long. Instead, use your ill-gotten capital to exit the rat-race and start trading.   RESPONSE 10: Trading pays more than your career. Interpersonal skills are now irrelevant. Use your technical skills for trading. Never stop learning and keep updating your technical skills.😁
    • There are a lot of trading strategies like elliot waves, wyckoff etc so we need to apply those who best suited to our need and are understandable too.
    • Scalping can be good during the high volatile markets however the new traders should be careful while entering and exiting the markets too quickly since they can make losses as well. If the broker support news trading we can make most out of the scalping in my opinion.  
    • In my opinion these candlestick charts are more easier to understand as compared with the other charts.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.