Volume Profile

Questions about MultiCharts and user contributed studies.
Pipscalper
Posts: 74
Joined: 28 Jul 2006

Volume Profile

Postby Pipscalper » 24 Aug 2007

in the symbol window there is the possibility of setting the volume profile to
screen
entire data series or
number of bars.

Would it be possible to add a setting of number of days back , with 0 being the currentdate.

Furthermore can the plotting be changed to
plot on pricechart at startsession and not besides the chart.
And no plotting on indicators as is the case now.

thanks in advance
Cees

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Marina Pashkova
Posts: 2758
Joined: 27 Jul 2007

Postby Marina Pashkova » 24 Aug 2007

Hello,

Below are the answers to your questions:

"Would it be possible to add a setting of number of days back , with 0 being the currentdate?"
Yes, this function will be available in the future versions of MultiCharts. However, at the moment I cannot provide any ETA.

"Furthermore can the plotting be changed to
plot on pricechart at startsession and not besides the chart.
And no plotting on indicators as is the case now?"

You can do that with the help of EasyLanguae indicators. They were discussed on the forum at some point. I am sure you'll be able to find what you need if you browse the forum.

Pipscalper
Posts: 74
Joined: 28 Jul 2006

Postby Pipscalper » 24 Aug 2007

Thanks Marina for your quick answer.

Good news that Nbr of days will be included in the future.

The easylanguage MP's on the forums have all their specific kind of problems and I suppose that especially on lower time frames thay are very CPU intensive, while an MP code directly in the program could be more stable and uses less CPU time.

Thanks anyway.

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Marina Pashkova
Posts: 2758
Joined: 27 Jul 2007

Postby Marina Pashkova » 24 Aug 2007

I would still recommend browsing the forum. Some of the indicators posted by other users work really nicely.

As for implementing this feature directly in the program, MC is flexible but there is a certain flexibility coefficient to it. Every user has his own unique demands. Including mechanisms to meet all of these demands directly into MC would not be possible or for that matter even desirable. Therefore, instead we designed the program in such a way that users can tailor it to their needs (with the help of indicators etc.)

Nick
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Postby Nick » 29 Aug 2007

Yes please!! number of days back would be great! Zero should mean just today as was requested. This is how most people use volume profile.

The posted studies are OK (ghKamer for example) but as was mentioned have numerous issues. The most obvious (again also mentioned) is that they are hugely processor intensive. For every tick they re process the whole volume and price matrices in an iterative fashion. They look quite nice if you just place them on a chart but to actually use them real time, in real trading they are not too practical.

Cheers,
Nick

Pipscalper
Posts: 74
Joined: 28 Jul 2006

Postby Pipscalper » 29 Aug 2007

Thanks Nick for backing my request,

I think that MC,s VolumeProfile has a lot of potential , but that its a little bit left behind.
I understand that stability of the platform should be Number one.
But since MC now seems very stable , it would be nice to see some things which are not looakalikes to TS, as is the Volume Profile.
Its also a very nice salesitem , which is always positive.

regards
Cees

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Marina Pashkova
Posts: 2758
Joined: 27 Jul 2007

Postby Marina Pashkova » 29 Aug 2007

I am not sure if those volume profile indicators are hugely heavyweight.
Could you please give us a specific example illustrating that the indicator is that processor intensive?

As for including this functionality into MultiCharts, we usually try to add functionalities that are not readily available elsewhere. If there is an indicator that does the job we do not see why it should not be used in MC.

Nick
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Postby Nick » 30 Aug 2007

The indicators are highly re-iterative looping through arrays on every single tick. Not only that they erases and draw hundreds of trend lines every tick. You can see in the code.

To fully illustrate the point open 3 days worth of ES single tick data in a chart. (actually a 1 minute chart will have problems) Add ghkramers poormans market profile indicator (the best available). It will take 15 minutes or so to load. Once loaded the display can not keep up and your PC will just 'stutter'.

Now add the same indicator for half a dozen of your other favourite instruments. The machine will grind to halt before you are able to.

As traders we use these things day in day out not just in the office under ideal conditions :D It is very different if you have money on the line you need complete faith in your tools, freezing for a few seconds can cost big money. My favourite instrument is the DAX it can move 20 points in a second or two thats 1000 euro per contract, in fact I have seen it move double that in a couple of seconds. This is precisely the time these things lock up...when the market gets fast and volume spikes.

If you would like to remotely connect I can easily demonstrate these things only work under ideal conditions.


Please consider these fairly minor additions that Pip requested. Essentially they simply deal with the sample yu use to build the profile.

Cheers,
Nick

P.S. Not sure if he asked but colouring PoC (point of control) and 1 and 2 standard deviations a different colour would be nice too.

P.P.S. Extending the horizontal part of the cross hair cursor into this area would be very useful too. (To make it easy to see what level volume peaks and troughs occured).

Pipscalper
Posts: 74
Joined: 28 Jul 2006

Postby Pipscalper » 30 Aug 2007

I actually asked to place the profile on the chart at the beginning of the session(possibly adjustable), and we don't have to see the profile of the indicators.

Adding POC and Coloring of SD's would be very welcome.

Hope that Mc realizes the importance of an indicator which they have already in their software, but just needs some finetuning to be a useful one for traders.

regards
Cees

Pipscalper
Posts: 74
Joined: 28 Jul 2006

Postby Pipscalper » 30 Aug 2007

I actually asked to place the profile on the chart at the beginning of the session(possibly adjustable), and we don't have to see the profile of the indicators.

Adding POC and Coloring of SD's would be very welcome.

Hope that Mc realizes the importance of an indicator which they have already in their software, but just needs some finetuning to be a useful one for traders.

regards
Cees

Nick
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Postby Nick » 31 Aug 2007

As you say it is a shame as the feature is there its just needs a few small changes. The most important thing is being being able to set the parameters for Data Range to 'N days'. Currently Offered is N bars Screen or whole series. N should be settable to zero just to display today's developing profile too.

This is how I use it - I am interested in today's developing profile and where peak levels are developing. To do this I select 'screen only' for the range of bars and by squashing or stretching the display try to get just todays bars on the screen. This has two main problems 1) I have to constantly keep adjusting the charts just to show today's bars 2) The bars are often to squashed or stretched out to actually trade from.

Actually I post charts to a couple of forums and have had numerous enquiries about what i am using to display volume profile. I of course tell them MC but have to add that its really not an ideal tool for this :cry: wouldn't take much to make it usefull and only a little more to make it state of the art. Volume Profile seems to have taken over from MD as the current 'hot topic'.

Cheers.


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