There is no lack of ideas as well as the desire to refine the strategy. Lately I have been trading successfully using Boxprofile together with laguerre RSI, STLM and fractals trend line. The results are very good for the indications of the "Market profile" which makes it clear where the sales and purchases are positioned. It could be an interesting implementation for CP or even for a new project. I await subscriptions of interest
thanks, i have downloaded it.
I would not like to do a course on the Market profile, but only some indications of use. Let's look at the daily that develops on the weekly one. There are three types of scenarios. 1) initial balance that is formed within that of the previous week and that will create a swing situation with the return to the POC 2) Exit from the initial balance for a new rising or falling trend 3) return to the previous initial balance with the possibility to reverse the trend
Let's see the current situation of EU. If the price breaks through the area of 1.206, it drops to 1.197 and possibly 1.187. If it breaks 1.2205 it goes up to 1.2266, then to 1.2295 and then to 1.2325. If it breaks that area it goes up more :)
The operation should be that if it goes above the POC it sells, if it goes below it buys as long as it remains within 1.206 and 1.233
Inserting the trading logic in CP using the market profile could be very wasteful of energy and variables, I propose some concepts of strategies to simplify everything. 1) the possibility to buy or sell if the price is higher than the POC, which should also correspond to the VWAP, which will act as a price magnet !!! ?? 2) this second is more particular. If the opening at 8 o'clock is within the opening balance of the previous day, move sideways and perform countertrend trades. 3) the opening at 8 am is beyond the initial balance of the previous day, it only goes in trend. 4) If the trade goes towards large volumes, when they are reached it closes.
Dante, thanks for the details!
I don't like the idea of implementation of indicator from market to the CP (it can become paid sometime).
But I found some free indicators (https://www.mql5.com/en/code/501) and even the article about Market Profile (https://www.mql5.com/en/articles/17)
Can you please check them and let me know if some is OK to use in our EA?
Nice information, thanks. I tried the EA that Dmitry attached but it has errors and it doesn't work for me !!! sin. Already at discretion interpreting some Market Profile signals is not easy, I think how complicated it can be to program it. We could go step by step with the POC or the VWAP. In the graph you see it at 30 minutes
In this second daily test you can see that if the POC remains in the area it always attracts and is always retouched, but if it changes a lot, a new trend starts
box profile dint appears as an attachment, im with Sai, wondering how to use these, seems interesting and i was seen it many times, but i cant catch up. Can you give more explanation?, please! thanks!!!