wHERE IS THE VOLUME PROFILE

Hi

The new volume profile functionality is great, but... I always had a simple volume profile on an hourly chart for a long timeseries. I can't find this functionality in the new VP settings. I use IB and the tick data is only for a few days, so this is too short to create the longer back volume profile I want.

appreciate any help!! Thx

Hello aczk,

In the current implementation of Volume Profile ask and bid tick data is required for VP calculation. Such data gives the most precise output. We are going to add ability to utilize minute data for Volume Profile in the next version of MultiCharts.

not great, not great ta all!

I always had a simple volume profile on an hourly chart for a long timeseries.

It was built out of 1 minute data. That is what we are going to have in the next version of MultiCharts.

I always had a simple volume profile on an hourly chart for a long timeseries.

It was built out of 1 minute data. That is what we are going to have in the next version of MultiCharts.

Will this be optional? Like for example one option being: allow using tick data if available and minute data otherwise and another one: only use minute data.

Regards,
ABC

What MC needs to do IMHO is the following.

1. Add a rule that specifies the maximum amount of tick data to keep in the database. Should be global and per symbol based.
2. Give users the option to specify how many days should attempt to use tick data. And if an Automatic rollover to non tick data should be made if it is not available. For example, if I don't care about more than 10 days of tick data, don't spend a ton of time trying to download it to create my profiles.

I don't like the idea of "all or nothing" (all profiles being built based on minute data or tick data). It all depends on how good the algorithm that will distribute the volume on the minute data is.
I'm with davewolfs on this, an option on QM where we specify how many days of tick data we want to retain and past that it will all be based on minute data. This way the user would from the start choose how he want to collect his data.
Naturally that we are talking about profile building. An option on QM per symbol, dedicated to the profile data would be an interesting idea.

All profiles are being automatically built using tick data (bid/ask data) for accuracy which is a solid option, but not everyone uses IQFeed so instead of building this automatically give the option on the symbol settings. If you want to use profiles, which data do you want? If only minute data is available then the algorithm kicks in and distribute the volume, if we want the last 2 weeks to be based on tick data than that will be the period retained in the database for tick data and every data called past that period will be minute based and the algorithm will kick in for that data.

But above all, and the most important thing for me now, prior to know how all this will be applied, is to know if the algorithm is capable of mimic the tick based profiles.
Only from there we can discuss the best way to apply this and how to choose between tick and minute data.

The algorithm MUST be capable of calculate identical VPOC's and VA's when compared to tick data otherwise... I'm afraid that its usefulness will be very limited.

Dear users, thank you for your contribution. We are considering all of the provided suggestions.