Scribd Logo
Upload

Welcome to Scribd!

  • 60 views

    Market Profile Tool Will Help You To Identify The Strongest Support and

    Uploaded by

    jadie ali
    The document discusses the Market Profile tool, which analyzes market data to identify strong support and resistance levels. It can help traders avoid being caught off guard by fake levels and provides information about the strongest levels for a given instrument and timeframe. The tool looks for areas with extremely high trading volume ("spikes") that have historically acted as magnets for price. It is best to use a range of data that includes the current trading area to determine relevant support and resistance levels.

    Copyright:

    © All Rights Reserved
    Download as RTF, PDF, TXT or read online from Scribd

    Market Profile Tool Will Help You To Identify The Strongest Support and

    Uploaded by

    jadie ali
    60 views3 pages
    The document discusses the Market Profile tool, which analyzes market data to identify strong support and resistance levels. It can help traders avoid being caught off guard by fake levels and provides information about the strongest levels for a given instrument and timeframe. The tool looks for areas with extremely high trading volume ("spikes") that have historically acted as magnets for price. It is best to use a range of data that includes the current trading area to determine relevant support and resistance levels.

    Original Title

    market profile advantages

    Copyright

    © © All Rights Reserved

    Available Formats

    RTF, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document discusses the Market Profile tool, which analyzes market data to identify strong support and resistance levels. It can help traders avoid being caught off guard by fake levels and provides information about the strongest levels for a given instrument and timeframe. The tool looks for areas with extremely high trading volume ("spikes") that have historically acted as magnets for price. It is best to use a range of data that includes the current trading area to determine relevant support and resistance levels.

    Copyright:

    © All Rights Reserved
    Download as RTF, PDF, TXT or read online from Scribd
    Download as rtf, pdf, or txt
    60 views3 pages

    Market Profile Tool Will Help You To Identify The Strongest Support and

    Uploaded by

    jadie ali
    The document discusses the Market Profile tool, which analyzes market data to identify strong support and resistance levels. It can help traders avoid being caught off guard by fake levels and provides information about the strongest levels for a given instrument and timeframe. The tool looks for areas with extremely high trading volume ("spikes") that have historically acted as magnets for price. It is best to use a range of data that includes the current trading area to determine relevant support and resistance levels.

    Copyright:

    © All Rights Reserved
    Download as RTF, PDF, TXT or read online from Scribd
    Download as rtf, pdf, or txt
    of 3

    Market Profile tool 

    will help you to identify the strongest support and


    resistance levels which the market does obey so that you wouldn’t be
    caught off guard by that nice level which proved to be fake again. This
    indicator is designed by AtoZ team to provide you information about
    the market profile and identify the strongest levels for a specific
    instrument and selected timeframe.

    Market Profile tool trading tips & tricks

    There are different ways to use a market profile. Usually, trader is


    looking for extremely high values (spikes to the right side) to
    determine the strongest market levels. These areas are also used as
    high probability Take Profit targets. They act statistically as magnets
    because price traded in the past larger periods of time in those areas.

    As a trading strategy, price tends to trade from one peak to another. S


    so if price leaves a peak, it usually cross easily the valley and climbs
    to the next one. To be relevant, the market profile should be computed
    with as much data as possible. The indicator automatically determines
    the best time frame available for the time range set by the user.

    For example, if the time range is 1 week, probably most brokers will
    provide data for TF 1 minute. Even if user is looking on 1 Hour TF
    chart, internally the indicator will grab data from 1 minute TF. The art
    to determine the relevant range is up to user experience. Normally, the
    user should select ranges that include the current area traded. It is
    useless to use the Market Profile tool for virgin areas, never traded or
    traded in the late past.
    It is supposed that any instrument tends to complete a Gauss
    distribution in one larger area before migrates to another area. This
    way, larger valleys (gaps) tend to be filled before migration.

    Using Market Profile tool

    Select the range on a chart to determine the market profile for (Blue
    Square) by dragging the corresponding vertical blue lines. Select the
    area where the profile will be plotted (Red Square) by dragging the
    corresponding vertical red lines. If after changing chart TF areas
    become irrelevant, please press Reset Range.

    The default range is 20 bars for the current chart time frame. The
    dimension of the red square will not affect the profile. The area acts for
    better visualization of the shape, a larger Red Square is
    recommended. You can press the minimize button to hide the profile.
    In this mode, the indicator does not use any resources for
    computation. You can also filter older data by selecting
    “OldnessMatter” to “Yes.”
    Download Market Profile tool

    You can download the Market Profile tool for free by clicking the
    “Download” button located at the top right corner.

    You might also like