Wikipedia:A Market Profile is an intra-day charting technique (price vertical, time/activity horizontal) devised by J. Peter Steidlmayer, a trader at the Chicago Board of Trade (CBOT), ca 1959-1985. Steidlmayer was seeking a way to determine and to evaluate market value as it developed in the day time frame. The concept was to display price on a vertical axis against time on the horizontal, and the ensuing graphic generally is a bell shape--fatter at the middle prices, with activity trailing off and volume diminished at the extreme higher and lower prices. In this structure he recognized the 'normal', Gaussian distribution he had been introduced to in college statistics.
Important : The market profile tool is designed to be used on the 30min timeframe, however, you can modify its parameters and use it on lower timeframes (15/10/5min)
This indicators displays the following information
Session open
TPO
Value area calculation zone
POC
Highlight of Single prints
Session High/Low
The current price (TPO Profile is often used isolated without any candlesticks on it)
Parameters
Session beginning configuration (not coded with a session input yet)
Number of candles to use for calculation (default 13 for a single session)
Extend yesterday's levels (VAH/VAL/POC)
Show/Hide Market profile calculation area (background color)
Bars number (number of rows that will be used to draw the profile)
Show/Hide TPO's
TPO Colors customization (For in/out of VA, VAL/VAH/POC/High/Low levels and single prints)
Show/Hide High/Low levels
Show/Hide VAL/VAH/POC Levels as lines
Enable/Disable Single prints highlighting
Value area size (as percent)
Show/Hide current price (corresponding to a line scaled on the "close" price)
Additional Notes
Each session is drawn when the day is over
To use as much space as possible, TPO's are not directly drawn on the area of their calculation (which can be confusing if you use candlesticks directly over it)
This script will probably be updated in the future (especially concerning its implementation which is a bit spaghetti coded for now).
If you have interesting suggestions about new features that are usual within market profile tools and missing from this script , don't hesitate to suggest it.
Informacje o Wersji
⋅
Update:
Letters numbers
The session calculation is now based on an extended characters set -> "ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789{[|]}@$€£*", in order to support longer sessions on timeframes lower than 30min
Informacje o Wersji
⋅
Update:
Extended charset ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789@$€£{}[]()*+-/=%&?! , allowing the script to calculates profile with up to 78 candlesticks in the history
"Display TPO as bars" parameter
New display mode :
Informacje o Wersji
⋅
Update
Opening price of the configured session is now correctly scaled with a dedicated line
Informacje o Wersji
⋅
Update:
TPO size can now be defined by a ticks number
On option to scale TPO on a rounded value corresponding to the ticks number is set by default
You can now change the size of TPO letters (Tiny, Small, Normal) (default: Small)
Informacje o Wersji
⋅
Default ticks size now set to 25
Informacje o Wersji
⋅
Update:
Single prints can now be extended
Informacje o Wersji
⋅
Update:
- A basic initial balance implementation has been added (Only consider A and B periods, undepending on your timeframe for the moment) - Closing Price mark - Customizable Spacing between Letters - VA zone is now highlighted
@g0ldl10n, ignore that question, i figured it out man!
LeveredUp
⋅
@g0ldl10n, How did you adjust the setting to show the most recent day?
g0ldl10n
⋅
@LeveredUp, Had to adjust the time as it defaults to CT, and im ET.
vinikumar72
⋅
@g0ldl10n, what ct and et। This script doesn't show current session।what to do। Can you tell me bro।
Adamtrader99
⋅
@vinikumar72, you simply change the session time to your timezone and it will show on the most recent day. The default session time on the indicator is 9:30 - 4:00 but for me that would start the ind. at 10:30. so i changed it to 8:30-3:00 and now it fits perfectly. hope this helps.
eojinmah
⋅
@Adamtrader99, I changed mine to my time zone but it still doesn’t show me the current day’s TPO until the end of the day. How did you fix that please. Thanks
Adamtrader99
⋅
@eojinmah, honestly i forgot, i dont use this any more. You're better off using Volume profile, not market profile. Tradingview has perfect indicators for it.