Download MetaTrader 5

Indicators: Day Trader Market Profile

To add comments, please log in or register
They are already making profit using the Market. You can join them!
MetaQuotes Software Corp.
Moderator
181164
MetaQuotes Software Corp. 2014.02.17 13:09 

Day Trader Market Profile:

The indicator ыimulates the full structure of the market profile system that described by "James Dalton" in his book "Mind Over Markets".

Author: Bassam Maamoon

MQL4 Comments
16319
MQL4 Comments 2014.02.21 07:02  

Please explain of TPOs, POC, RL, VA and IB.

Thank you

Bassam Maamoon
43
Bassam Maamoon 2014.02.21 08:27  
dpro123:

Please explain of TPOs, POC, RL, VA and IB.

Thank you

TPOs refers to "Time/Price Opportunity" means opportunity created by the market at a certain time at a certain price.

POC refers to "Point of Control", means the fairest price to all the traders in the market this day and concentrate the most of the opportunities at it.

RL refers to "Range Line", means the range of the prices of the day may be narrow, normal or wide rang.

VA refers to "Value area" means the area that accumulate 0.7 (standard percentage) of volume of trades executed by the market that day and the some wait its formation to sell top of it and buy bottom of it.

IB refers to " "Initial Balance". means the initial opening of the market ( the first tow half-hours) and give you good impression of the nature of the market that day before its formation and the some waiting after the IB completed and if it strong and carried away IB then they enter the market directly to catch the opportunity from the start of it .


i hope i help you, you may need to read the J. Peter Steidlmayer book.

MQL4 Comments
16319
MQL4 Comments 2014.02.21 09:58  

hi mr basim

exclent indicator

but i dont know why it dont works on CFD like DAX

please update it we can use too

thanks for your

Bassam Maamoon
43
Bassam Maamoon 2014.03.06 11:24  
dowjonestrader:

hi mr basim

exclent indicator

but i dont know why it dont works on CFD like DAX

please update it we can use too

thanks for your


Don't run it on any TF but 30M.
pjephraim
13
pjephraim 2014.04.09 06:30  
Hi Kindly explain how to identify entry and exit points using this indicator
Bassam Maamoon
43
Bassam Maamoon 2014.04.10 20:42  
pjephraim:
Hi Kindly explain how to identify entry and exit points using this indicator

MP is not an indi, it is a complete system to expect when/where the next direction of price starts and when/where it ends (the holy grail trend),

you should have your own way to catch profits by it.

I will give you an example (today in the USA session)


pjephraim
13
pjephraim 2014.04.12 12:16  
Hi thanx for the effort but I have to agree I have not managed to understand how exactly yo use it, if you do not mind kindly explain again in detail step by step. If you can give directions how to identify potential bearish or bullish trend is about to begin
Bassam Maamoon
43
Bassam Maamoon 2014.04.12 18:20  
pjephraim:
Hi thanx for the effort but I have to agree I have not managed to understand how exactly yo use it, if you do not mind kindly explain again in detail step by step. If you can give directions how to identify potential bearish or bullish trend is about to begin

Ok, another example for your eyes,

but to to fully achieve this and understand how to use it, plZ read "James Dalton" book "Mind Over Markets", download from here

http://www.4shared.com/office/7nVkPOic/Mind_over_Markets_J_Dalton.html

then apply and practice,, then you will have your own way of catching profits, then you won't meet the losses again.

Look this example,


MQL4 Comments
16319
MQL4 Comments 2014.02.21 07:02  

Please explain of TPOs, POC, RL, VA and IB.

Thank you

Bassam Maamoon
43
Bassam Maamoon 2014.02.21 08:27  
dpro123:

Please explain of TPOs, POC, RL, VA and IB.

Thank you

TPOs refers to "Time/Price Opportunity" means opportunity created by the market at a certain time at a certain price.

POC refers to "Point of Control", means the fairest price to all the traders in the market this day and concentrate the most of the opportunities at it.

RL refers to "Range Line", means the range of the prices of the day may be narrow, normal or wide rang.

VA refers to "Value area" means the area that accumulate 0.7 (standard percentage) of volume of trades executed by the market that day and the some wait its formation to sell top of it and buy bottom of it.

IB refers to " "Initial Balance". means the initial opening of the market ( the first tow half-hours) and give you good impression of the nature of the market that day before its formation and the some waiting after the IB completed and if it strong and carried away IB then they enter the market directly to catch the opportunity from the start of it .


i hope i help you, you may need to read the J. Peter Steidlmayer book.

12345
To add comments, please log in or register