Find the high and low volume areas that point to future support and resistance. This will show high probability levels of interest.
It helps day- and swing traders to quickly identify areas that often become significant support and resistance levels.
MarketProfile can be used in the charting platform NinjaTrader 8 [FREE].
MarketProfile supports 2 profile types:
- Volume profile: The profile is based on volume distribution by price. For example, a volume profile row of 100 means that there have been 100 contracts traded at that price. Recommended for instruments with true volumes, such as futures and stocks.
- TPO profile: The profile is based on TPO distribution by price. TPO stands for “time price opportunity”, but we removed the time element to maximally simplify it for everyone to understand: a TPO is now just a “hit” of the market at a price. For example, a TPO profile row of 100 means that the market has traded at that price 100 times. Recommended for instruments without true volumes, such as forex.
- Build and print a COMPOSITE volume profile or TPO profile
- Build and print a DAILY volume profile or TPO profile
- Give total control on resolution configuration
- Allow specifying the lookback period in bars
- Allow specifying the lookback period in days
- Print volume or TPO number at each price
- Print important profile levels (POC, VWAP, VAL, VAH) with professional price labels (support fractional price format for ZB, ZF, ZN…)
- Allow painting profile with color gradient to highlight where volume/TPO distributes most or least
- Allow defining value area with custom percentage
- Allow quick on/off switch via a draggable & customizable toggle, WITHOUT reloading chart
- Instruments: CFDs, forex, futures, indices, options, stocks
- Interval types: timebased or non-timebased, standard or custom
- Chart styles: any
- Ready to use out of the box
- Fully configurable & customizable with ease
→ Works with NinjaTrader 8
→ Fully customizable coloring
→ Build and print a COMPOSITE Volume profile or TPO profile
→ Build and print a DAILY Volume profile or TPO profile
→ Free template files
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