Market Profile Indicator?

[daedalus]

Hey everyone. Sorry if my first post here is a stupid one, but i've searched up and down the TradeStation forums, every google link I could find, and every thread on here I could see, but i've been unable to locate a decent Market Profile .eld indicator that uses a POC.

The stuff on the TS Forums is basically crap with many of the original links to threads with posted indicators now deleted or missing.

While this isn't within the methodology I trade, i'm always open to new ideas about reading market direction and strength and I was watching some of the free TTM videos, and last night was one on market profile. Seems like an interesting concept that I would like to look further into, but i've been unable to come up with the needed indicator to do so.

Anyone have anything similar to this? http://www.tradethemarkets.com/public/899.cfm

Thanks for your help. Happy Trading!

[dbw451]

You didn't see this thread?:

https://www.tradestation.com/Discussion ... selMatch=2

The reason you won't find free market profile indicators is because the layout of Market Profile is copyrighted (maybe patented?) by the creator Steidlmayer and the CBOT. The CBOT guards it's rights. They do not allow any commercial software to sell or display market profile without a monthly royalty. Most software vendors charge a monthly surcharge to cover the CBOT monthly royalty. Here is a list of charting packages that are certified for Market Profile by the CBOT:

http://www.cbot.com/cbot/pub/page/0,3181,1183,00.html

Many charting packages (including TradeStation) have volume profiles which are very similar in shape to Market Profile (which is price based rather than volume based). You can easily eyeball a volume profile chart and estimate the 70% value areas of the bell curves formed by volume profiles.

Market Profile is an interesting subject. You can find some free information about it here:

http://www.cbot.com/cbot/pub/page/0,3181,1184,00.html

Also, the best MP books are:

Mind of Markets by James F. Dalton
Markets in Profile by James F. Dalton
Steidlmayer on Markets by J. Petter Steidlmayer

Best of luck with your learning.

Regards,

David

[Patch]

Hi David

Fabulous post.
Thanks Very Much !!!

Patch
In VA
USA

[dbw451]

You're welcome Patch. I see I made a typo with the Dalton book title; the title is "Mind Over Markets" not "Mind of Markets".

Regards,

David

[daedalus]

I appreciate your post. I was aware it was copyrighted, but in the video I thought I was seeing a TS chart, when in fact in a later video that week it turned out to be an entirely different charting package, and one that pays CBOT royalties.

Oh well, it was worth a shot! Thanks again!