Value Area for DIA

[Trader_JG 10]

Hello, I just started trading DIA and was wondering if there is a website that publishes the MP levels? The YM on mypivots.com is obviously way off.

 

Also, where is a good place to get the volume info for the DIA? I use esignal.

 

Thanks,

Jonathan

[TinGull 10]

Hi there,

 

Out of curiousity, are you trading options on the DIA intraday? Or the actual shares? And why not trade the futures?

 

Anyhow...the levels for tomorrows trading are :

 

VAH - 126.65

POC - 126.53

VAL - 126.41

[Trader_JG 10]

I am trading the actual ETF shares.

I trade at a prop firm and just started getting into the indices after the NYSE went hybrid. Starting out with the ETF and then once I have a proven strategy will go to futures.

 

Thanks for the levels, is there anyplace I can get them daily like mypivots.com?

 

Jonathan

[notouch 10]

If you use eSignal you can subscribe to Market Profile for $50. Volume is available on eSignal charts.

[Trader_JG 10]

What is the best way to get the volume per price on the charts? Is there a study I can use or just change the chart to a 1min and start adding?

[TinGull 10]

What do you use for a charting program?

[Trader_JG 10]

esignal pro. I did some reading in this MP forum and came across some esignal studies but I didn't understand what the heck to do with them or what they were for.

 

Just a newbie coming up the ranks!

[TinGull 10]

Oh sounds cool. I don't know anything about esignal, so hopefully someone will be able to lend a hand. Also...remember that a proven strategy on an ETF may or may not work the same on the futures. Strategies that work on the Russell futs don't work the same on the DOW futs....so something to take into consideration.

[notouch 10]

ESignal has some great videos on their website to help newbies. To get volume it's just right click, basic studies, volume.

[Trader_JG 10]

Thanks guy, I am pretty familiar with esignal but if I use the standard volume bars wont it give me more of a range of price per volume which is less accurate or is this the way people do it by hand? What time increment should I use for the volume bars to get the best representation for the MP?

1min, 2min, 100Tick?

[notouch 10]

It would be easier just to pay the $50.

[Trader_JG 10]

I think you're right notouch. The time I'd be adding I should be studying MP books.

 

Thanks guys.

[TinGull 10]

30 minute for MP

[Soultrader 12]

You can add market profile on esignal for a small fee. I use to use esignal for my market profile charts.

[Trader_JG 10]

TinGull, those levels you gave me for the DIA worked amazingly well.

As soon as it broke VAH it tanked and I made a quick 15points!

Thanks!

 

But I have a question. I have YM quotes and put the mypivots.com MP levels on that chart which was at different times on the chart patter,

For example on the DIA price bounced off VAH (levels TinGull gave me) before going down, whereas on the YM #F and levels from mypivots the prices ripped through this level then came back and retraced to it before heading down.

Now, to me this looks like an edge knowing the YM penetrated that level whereas DIA hadnt yet. Knowing the YM was heading lower I could simply short DIA once it goes below the VAH because YM already did. Is this common or is this an anomaly. This is my 1st day looking at this.

 

Also, how correct are the mypivots.com MP levels and are they for the YMH7 or YM #F. TinGull, are your YM levels the same as mypivots.com?

 

Thanks in advance! It was a great day trading with these MP levels.

I know it's a lot of questions but there is a lot I am thinking about after noticing this reaction.

Jonathan

[TinGull 10]

Hey Jonathan,

Great to hear they worked for you. My levels always differ from mypivots.com. I'm not sure how he gets his levels, but I dont always find them to be as accurate.

 

Look at these levels today, and see what happens...

 

VAH - 127

POC - 126.92

VAL - 126.64

 

Best of luck to you

 

Chris