Volume profile market profile indicators and strategies for NinjaTrader
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A Market Profile is an intra-day charting technique. on its own it does nothing - you would take an approach to how to use it.
If you are new to Market Profile and Volume Profile here is some good places - for the traditional usage - for disrectionary trading.
http://www.jdaltontrading.com/tpo-versus-volume-profiles/
For semi and fully automated trading -
In the MicroTrends NinjaTrader Framework there are several derived offerings of market and volume profile.
It is a vastly simplified method which i use myself. I have removed the complexity which i do not require - and ahve built rules that work for me in addition to price analysis of higer time frames on weekyl and daily time scales.
The strategy we have on offer can utilise Market profile if you select it to or Volume Profile. The strategy rules are to trade the signals based on a breakout/levels crossover from the POC or value areas.
Point of Control and Value Area Top, Median, Bottom prior session and current session evolving.
The creation of the POC and Value areas can be based on: VOC, TPO, VWTPO, VTPO - the market profile would be traditionally the TPO method.
Perhaps the strategy should be called VolumeMarketProfile or split out into 2 etc...
if you use a strategy on a live account you need to purchase a live trading license
it is free for demo account/sim account usage.
what trading rules were you looking for?
Currently Offered are:
Trade Setup Mode -
:Long/Short Cross Above Prior VAH/ Below Prior VAL,
:Long/Short Close Above Prior VAH/ Close Below Prior VAL,
:Crossover Prior POC,
:Crossover Prior VAM, :
Crossover or Close above/below Current POC
Strategy More Details
The Strategy is made up from several components that can be examined separately as indicators - and as a strategy.
In this context of the Strategy with rules based around Market Profile or Volume profile
an indicator "MT Signals Volume Profile Breakout" provides graphics on a chart and signals -
You can see this in the indicator list from you chart and add it to your chart - it is derived from the indicator - "MT Volume Profile" - which also includes the TPO Market Profile technique.
You can add that to a chart to see it in isolation:
To see the indicator:
Open a 30 minute 24/7 or RTH chart for example Futures ES or CL etc
15 days of data or more is preferable.
Then click the Indicators menu item on the top or right click the chart and select indicators
Wait for the indicators list to populate and display
From the list you can then search down the indicator names and select "MT Volume Profile"
For Market Profile mode set the parameters it to TPO for Volume Profile Type
Click Ok
The indicator will show the Value areas and POC - the graphics do not show all the traditional chart graphics it is distilled into a breakout zone -
Also related are the following "Market Profile/Volume Profile" indicators:
MT Volume Profile Bias
MT Volume Profile Bias Power
This simply show when there is a bias long or short according to the position of price and and the POC or as you configure it.
"MT Signals Volume Profile Breakout"
You can also then add the signals "MT Signals Volume Profile Breakout" indicator if you wanted trading signals based on a breakout/levels crossover from the POC or value areas - set the Trade Setup Mode =1 in the parameters list
For details of what a Signals indicator is please see here:
Please click here to view how to Get Started with MTNT7 Signals Indicators
Strategy
A strategy auto trades - signals from the indicator - The strategy we talked of is called the "MT Volume Profile Breakout" It will be listed in your strategies.
To use the strategy
Start NinjaTrader
Connect to a datafeed
Open a 10 Range 24/7 or RTH chart for example Futures ES or CL etc
15 days of data or more is preferable.
Then click the strategies $ menu item on the top
Wait for the strategies list to populate and display
From the list you can then search down the strategies and select the Strategy "MT Volume Profile Breakout" - click new then apply.
For details of getting started with a MTNTF7 NinjaTrader Strategy please see here:
Getting started with MicroTrends NinjaTrader Framework Strategies
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