market profile discovery

i've just discovered a little trick that i thought i would share with other users.

if you want to see how effective the market profile value area was in containing the following day's high and low you can try this little trick:

1. open a chart with the symbol that you want to study.
2. now load the dvatool
3. click on edit studies... and select the dvatool
4. remove the check marks next to the dvah, dpoc, dval and put check marks next to the vah, poc, and val
5. now set the time frame to something fairly compact like 15 minutes or 30 minutes and add a time template that restricts the data to rth.

now you can scroll backwards through the symbol that you are interested in and see how good the value area and point of control were at holding the extremes of the day or providing support and resistance points to trade off.

i found some very interesting results

You might also find it useful to export that data and examine it in excel. If you right click an advanced chart with a setup like phylup has described then you can select the data -> export (or something like that) menu options and then select which columns you want to export. All the Market Profile data will be in there to export as well. If you then save it as a CSV file you can then load it into Excel for further processing.

Another trick is to set the time template to 60 or 90 days when you do this and it will then fetch as much data as is available from eSignal and give you plenty of data to work with.

Phylup also forgot to mention that this is for eSignal users and you'd have to use other tools for other charting packages. But that's still an excellent bit of advice phylup - thanks!