MP on excel

[gomes 10]

Hi, everybody.

First of all I want to thank you people who started this forum and all the participants that contribute.

I have a question about MP software. I want to be able to have MP on the excel spreadsheet. If anyone knows where I can find the MP code for excel I appreciate if you would share it. I have a MP software. I am looking for this learning and testing purposes. Thanks in advance.

[TinGull 10]

Hi Gomes,

 

I've known only one other person who's had Market Profile in an excel spreadsheet, and that was inputted by hand. Out of curiosity....what learning and testing are you looking to do? There may be things that either I or others can run for you.

 

Chris

[gomes 10]

Hi, Chris

thank for your fast reply.

What I am looking to do with excel spreadsheet is front running the numbers and before it happens I want to see how the MP will look like. It is kind of a projections. things that I don't see on the software. exp If I have the excel spreadsheet I can run the market price higher or lower and can see the changes in the profile before the bracket ends. Things like that would be very beneficial for my understanding of MP. Looking for your responds

Humberto

[TinGull 10]

Very interesting idea...I've never heard of anyone wanting to do that sort of thing. So...if I'm understanding correctly, you want to be able to input prices that haven't yet traded, just to see what the profile would end up looking like if the prices do trade there? What insights would be gained from this sort of thing? I'm intrigued

[bobajob 10]

OK I have a number of Market Profile tools for excel having studied it for about 3 years. If you're still interested I will elaborate.

[bobajob 10]

OK Here is my MP excel file. It has a number of features:

 

Sheet one is for data - only for reference in this version - mine has a dynamic link to quote.com so it will plot market profile in real time.

 

Sheet 2 is the 30 minute analysis. Cut and paste the high and low prices from your data and then paste special transpose. The profile will be created lower down.

 

Sheet 3 is very interesting. Here I have a 5 minute analyser. This plots half hour profiles with 5 min data. It also has a composite that shows how the profile is building up with each new half hour.

 

I am currently doing a kind of simulation with this to learn how to trade properly. It is going really well.

 

I am trying to put this into another language for a stand alone program.

 

The file is quite big - I have got MP for the whole of 2003 in the last sheet.

 

Regards,Nick

[bobajob 10]

Here's the link:

 

MEGAUPLOAD - The leading online storage and file delivery service

[gomes 10]

Hi Nick,

I don't know how to thank you. I can't tell you that when I saw your reply that you are sharing your 3 years work (easy to say) and this is so much for me. I think this is something that I don't forget. You are very nice person. I will download it right away. Thanks a million.

Best Regards

Humberto

[Soultrader 12]

Thank you very much Nick. This is amazing.

[bobajob 10]

small point lads - there is a slight error in the code - you will have to download it again I'm afraid. the small problem is that the bottom tick of the 5 minute profile did not show. I have corrected this.

 

MEGAUPLOAD - The leading online storage and file delivery service

 

Obviously if you want help on how to use this tool just give me a shout. I'm glad it's helpful.

 

Regards

[bobajob 10]

Out of interest for all of you to be converted from pivot points to Market Profile I have attached a file showing the high and the low only of each day. The red lines on the left side show the pivot levels. The market on the left are the same days as on the right, but on the right they are market profile. You can clearly see the support and resistance at work instead of the arbitrary pivot numbers.

 

Regards

 

MEGAUPLOAD - The leading online storage and file delivery service

[gomes 10]

Hi, Nick

I downloaded your excel file. On first sheet (ES data) I didn't see MP, I think this is because I don't have a real time data feed into excel thats why I wasn't able to see MP. Correct me if I am wrong. And I have a question whenever you have a time to answer. On second sheet (daily analyze) I was able to create a MP with yesterdays data and I was amazed. But I couldn't see the Value Area numbers. I think I looked at everywhere on the sheet. If you please point me where and how I can see Value Areas I will appreciate. Thanks again for your hard work and sharing.

Best Regards Humberto

[ryker 10]

I'm working on MP with Excel and have developped a spreadsheet to be able to see MP in it. I'm using Bloomberg as a datafeed so if some other people have BB and are interested in it, I could give you a version of the spreadsheet.

 

If others are interested, let me know maybe I could do some quick changes in the spreadsheet to allow you to work with it from a csv file.

 

I'm interested in sharing it cause the spreadsheet is still in development and I would like to have some feedback concerning calculations and also for improvements.

 

I joined a screenshot of EURUSD market profile.

 

Ryker

[dalby 10]

this is one of the things i dislike about MP - is that people get so dogmatic about it.

 

i use MP. i also use floor traders pivots.

 

they BOTH work.

 

but so many times, I see adherents of MP theory saying that various NON MP levels are "arbitrary" or some such

 

floor trader pivots were invented, and have been used by floor traders for decades.

 

 

i could sit and cherry pick charts that would (falsely) "prove" that MP levels don't work either.

 

fwiw, despite many claims, MP also has "arbitrary" aspects to it. why should 70% be the value area? why not 75% 65% 50% etc.?

 

it's just as arbitrary.

it works, that's the point

[bobajob 10]

Ok dalby - first to your point - you're right maybe I should keep my trap shut with regard to pivots - but I must add that I give no credence to the 70% value area either. Go with what you know. That is why - gomes - you will not find any value area on my chart. Plus they are a nightmare do mechanically. Also gomes the first sheet is just data, that's it there should be nothing else. In my sheet that will update from quote.com - I have to add that ryker's sheet looks far better than mine in plotting MP. My sheet is for MP training offline and can be used to determine how the trading day is developing. I have used it for pattern recognition of MP instead of bar charts.

[bobajob 10]

by the way ryker - i'd be interested in your sheet too - it looks very impressive

[TinGull 10]

70% is because it's the closest round number to 1 standard deviation of a bell curve, which is what a perfectly balanced profile is. 70% is by no means an arbitrary number. It represents a statistical figure.

[dalby 10]

thegull i am aware of that - but it makes all kinds of assumptions about price variation in a "normal" curve vs. gaussian distributions

 

like i said. i USE market profile

 

i LIKE market profile

 

i also use floor trader pivots, and they both work

 

MP adherents ime are among the most dogmatic (just go to cisco-futures for examples) of traders, because I just see this constant "market profile is scientific and stuff and other methodologies are arbitrary" repeated time and time again.

 

there is no holy grail, there is no one best way.

[ryker 10]

Ok, I joined the spreadsheet.

 

Please note:

• You can plot many days as long as you have data (not too much because of restrictions in excel).
  
• This is note the last version but as I'm still working on it and have made a lot of changes in it, I can't share it for now. Probably in the near future .
  

 

Waiting for your feedbacks,

Thanks

MP - 0.024.xls

[TinGull 10]

I completely agree with you. You had just mentioned in a previous post that 70% was arbitrary. There is no one way, thats what is awesome about the markets. MP gives a great way to look at the markets, and I do use MP levels for my trading. I also use floor trader pivots and the basic hi and lo of the current and previous day. I don't use fibs or anything else, though. That stuff starts to get a little esoteric for my palette, but lots of people have success with it.

 

Didn't mean any offense, so hope none was taken.

[dalby 10]

no offense taken. the issue with arbitrary is that it is a loaded word, and one that "sets me off" cause i see it so much from MP adherents.

 

floor trader pivots are established using a formula

 

the value area is established using a formula.

 

whether or not either formula is "arbitrary" is frankly, a matter of opinion.

 

also, the 1 standard deviation thing is solidly dependanty on the assumption that equity markets distribute price in a normal curve. there is a fair bit of evidence that this is not the case in many respects.

 

this is similar to how some people say the bollinger bands correctly establish a X standard deviation, when i think it is relatively clear that markets do not distribute prices normally.

 

if they did, market events like 1987 would have less than a one in a million chance of occurring (approximately) as is the case with several other market events that occur much more frequently

 

the markets are a chaotic feedback system, and there ARE many ways to succeed - i agree.

 

MP does not have the stranglehold on market understanding or methodology, and that was my point.

[bobajob 10]

To clear this all up I will retract the statement - pivot points are arbitrary. Sorry for the offence.

[bobajob 10]

I don't care what you say though - adding the high low and close and dividing by 3 is arbitrary!

[dalby 10]

lol

 

boba, you sound conflicted.

 

first you retract the statement, then you reassert it.

 

"I voted for it before I voted against it"

 

or something

 

...

 

[bobajob 10]

i'm just having a laugh with ya dalby - problem with forums is you can't get over subtle points. No really no offence just kidding. Pivots work because people watch them - I understand that.