MarketProfile Targets

Green lines are High Value Areas (HVA) and Red lines are Low Value Areas (LVA).
This MarketProfile indicator plots Volume to Price Distribution.

Free MarketProfile code is a couple post below this one.

I discovered another use for it, you can find the market or sector leaders, when applied to a basket of symbols. I would like to make a video, as it's way to difficult to convey with words and a simple picture, even that will be difficult.

It's tricky to setup, I added some setup notes below this post.








How to use it:
1) Green levels are areas where price found value in the past, ie these levels become targets.

2) Red levels are areas where price didn't feel the love.
Potential levels to enter and aim for a high volume level target. Seems to me more often
than not price will either blast through or quickly chop before continuing on to the green
value level.
And some times the red levels are just as strong as the green levels, so buyer beware.

3) The histogram shows the bigger picture. Larger peaks are major value levels and where price
could end up at any time, typically price will chop around a bit before heading off to re-test
another level.
I like to smooth out or decrease the volume to price resolution "DeltaPrice" to
reduce the number of levels and make it easier to interpret the chart.

4) Breadth symbols seem to respond as well. Look for price and breadth to synchronize and then
find a leading indicator or indication such as divergence to enter.

MarketProfile Setup Notes

Setup Notes:
1) $VALSPD:
1) DeltaPrice: 250000
2) daybac: 11
2) $VOLSPD
1) DeltaPrice: 20000
2) daybac: 66
3) $ADSPD
1) DeltaPrice: 25
2) daybac: 66
4) $VXV.X
1) DeltaPrice: .1
2) daybac: 66
3) Volume: Tick count
5) @ES.D, 30 min:
1) DeltaPrice: 1
2) daybac: 180
6) @ES.D, 12 min:
1) DeltaPrice: 1
2) daybac: 66
7) @ES.D, 4 min:
1) DeltaPrice: 1
2) daybac: 66
8) @ES.D, 1 min:
1) DeltaPrice: .25
2) daybac: 66
9) EURUSD, 1 min:
1) DeltaPrice: .001
2) daybac: 66

MarketProfile Code With Target Levels

[SameTickOpt = True]
[LegacyColorValue = true];

{
Indicator Name: !!AmasterMarketP6
This code originally was coded by ghkramer and then added to by owen, and lookn4ddeal has added to it as well. I made a few tweaks to it as well, and cleaned up the code so it's easier to read.

Code originally posted in the TradeStation forums.
Links:
https://www.tradestation.com/Discussions/Topic.aspx?Topic_ID=93008
https://www.tradestation.com/Discussions/Topic.aspx?Topic_ID=50398
https://www.tradestation.com/Discussions/Topic.aspx?Topic_ID=51450
}


inputs:
PlacFirststartTLonchart ( 1 ) {,RetracePct(5)},
DeltaPrice ( .25 ),
//highVolColor ( green ),
lowVolColor ( red ), {lightgray}
color ( green ), {was cyan}
{mostrecent ( true ),}
SinDistVol ( false ),
Daysver ( true ),
daybac ( 3 ),
seetext ( true ),
alerts ( false ),
scalelocationpercent ( .5 ) ;

variables:
barsend ( 0 ),
Startid ( 1 ),
EndId ( 0 ),
seeDotlines ( true ),
mostrecent ( true ) {,realtimeend(true)},
endatdate ( true ),
deletpast ( false ),
FivLines ( false ),
seeplots ( false ),
HiV1LowV2Both3non0 ( 3 ) ;

variables:
PercTpointF ( false ) {, HistoWindowType(0)},
delettls ( true ),
deletpeaks ( true ),
seedots ( false ),
textLoc ( 100 ) ;


///////////////////////////

variables:
{maxhistoprev ( 0 ),}
prevyprice ( 0 ),
PrevEndDate ( 0 ),
PrevEndTime ( 0 ),
prevypricex ( 0 ),
PrevEndDatex ( 0 ),
PrevEndTimex ( 0 ) ;
{ prevypricedif ( 0 ),
PrevEndDatedif ( 0 ),
PrevEndTimedif ( 0 ) ;
}

{
Input:
TextVertPct ( 81 ) ;
}


variables:
jBar ( 0 ),
jCol ( 0 ),
jPrice ( 0 ),
jLow ( 0 ),
jHigh ( 0 ),
NbrPriceRows ( 0 ),
MinPrice(1000000),
MaxPrice ( 0 ),
HistoPrice ( 0 ),
dPrice ( 0 ),
dP2 ( 0 ),
lx ( 0 ),
dVol ( 0 ),
TotVol ( 0 ),
dVolx ( 0 ),
TotVolx ( 0 ),
dp ( 0 ),
DisplayIntensity ( 0 ),
MaxHisto ( 0 ),
MaxHistox ( 0 ),
EndDate ( 0 ),
EndTime ( 0 ),
EndVal ( 0 ),
{
EndDatex ( 0 ),
EndTimex ( 0 ),
EndValx ( 0 ),
}
EndDatedif ( 0 ),
EndTimedif ( 0 ),
EndValdif ( 0 ),
jDate ( 0 ),
TLRef ( 0 ),
TLRefx ( 0 ),
TLRefdif ( 0 ),
TLRefdif2 ( 0 ),
j ( 0 ),
{
Temp ( 0 ),
}
yPrice ( 0 ),
yPricex ( 0 ),
MaxPriceRows ( 1000 ), {v2.4 Must be = dim(Histo[]) - 1}
FirstTimeThru(true),
NbrTLs ( 0 ),
iTL ( 0 ),
NbrTLsx ( 0 ),
iTLx ( 0 ),
iTLdif ( 0 ),
NbrTLsdif ( 0 ),
xProfileLength ( 0 ) ;

variables:
barnum ( 0 ),
startbar ( 0 ),
xhistobars ( 0 ),
d15 ( 0 ),
dum ( 0 ) ;


array:
Dates[1500] ( 0 ),
Times[1500] ( 0 ),
Histo[1500] ( 0 ),
iTLRef[1050,5] ( 0 ),
LisTLs[1050] ( 0 ),
txt[1050] ( 0 ),
TLval[1050] ( 0 ) ;

variables:
dumsr ( 0 );

variables:
Swingdir ( 0 ),
SwingBar ( 0 ),
SwingPrice ( 0 ),
SwingDate ( 0 ),
SwingTime ( 0 ),
id ( 0 ),
x ( 0 ),
xbar ( 0 ) ;

variables:
Swingdirj ( 0 ),
SwingBarj ( 0 ),
SwingPricej ( 0 ),
SwingDatej ( 0 ),
SwingTimej ( 0 ),
idj ( 0 ) ;

variables:
DD ( 0 ),
TT ( 1 ),
PP ( 2 ),
barNo ( 3 ),
Dir ( 4 ),
VolUDT ( 0 ),
xend ( 0 ),
xxend ( 0 ),
xvalue1 ( 0 ),
colored ( 0 ) ;
{
array:
SW[42,9] ( 0 );
}
array:
Hj[1501,9] ( 0 ) ;

variables:
LisID ( 0 ) ;
{color(0)};

variables:
stopbar ( 11111111111110 ),
Hilo ( 0 ),
xavg ( 0 ) ;
{dir ( 0 )}

variables:
reset ( false ),
newnum ( 0 ),
xx1 ( 0 ),
md ( 0 ),
mt ( 0 ),
HLs ( c ),
EL ( 0 ),
lbar ( 0 ),
lbar2 ( 0 ),
enbar ( 0 ),
Lb ( false ),
Lb2 ( false ),
nDaysBack ( 0 ),
MinutesPerSession ( 0 ),
BarsPerSession ( 0 ) ;

var:
ex ( 0 ) ;

var:
xa ( 0 ) ;

{
array:
tlval[40] ( 0 ) ;
}


barnum=barnumber;

if
date<>date[1]
and
lbar2=0
then
begin
lbar2=lbar;
lbar=barnum[1];
end;

if
date<>date[1]
then
enbar=barnum[1];

if
Daysver
and
lboc
then
begin
if
daybac=1
then
xHistoBars = {barnum-}((barnum-enbar));

if
daybac>-1
then
xHistoBars = {barnum-}(((lbar-lbar2)*daybac)+barnum-enbar);

if
lb2 = false
then
begin
plot12[xHistoBars+2](c+5);
plot13[xHistoBars+2](c-5);

dum = text_new(date[xHistoBars+2], time[xHistoBars+2], close-6,"start location of referenced volume");
lb2=true;
end;
end;

if
(Daysver=false
and
TL_Exist(PlacFirststartTLonchart) )
then
begin
if
(Daysver=false
and
TL_GetBeginDate(PlacFirststartTLonchart)=date
and
TL_GetBeginTime(PlacFirststartTLonchart)=time)
then
stopbar= {FindBar(BD, BT)}barnum;
end;

if
barnum = stopbar
then
begin
plot10[2](c+5, "plot10", darkred);
plot11[2](c-5, "plot11", darkgreen);
end;

if
Daysver = false
and
barnum > stopbar
then
xHistoBars = barnum - stopbar;
xxend = 0;
//color = colordn ;

{------------------- (Main: Compute Histogram and plot)-------------------}
{------------------- (Calculate Histogram parameters)-------------------}

if
(xHistoBars > 0)
and
(CurrentBar >= xHistoBars)
{and
lboc}
then
begin
MinPrice = Lowest(L, xHistoBars);
MaxPrice = Highest(H, xHistoBars);
end;

{------------------- (xxx)-------------------}

if
(DeltaPrice <= 0)
then {v2.4 Change}
begin
NbrPriceRows = 100;
dPrice = (MaxPrice - MinPrice) / NbrPriceRows;
end
else {user specified DeltaPrice}
begin
NbrPriceRows = floor((MaxPrice - MinPrice)/DeltaPrice) + 1;

if
NbrPriceRows < 1
then {s/b >= 1, but test anyway to prevent divide by 0}
NbrPriceRows = 1;

if
NbrPriceRows <= MaxPriceRows
then
dPrice = DeltaPrice
else {constrain NbrPriceRows to array limits}
begin
NbrPriceRows = MaxPriceRows;
dPrice = (MaxPrice - MinPrice)/NbrPriceRows;
end;
end;

{------------------- (Initialize Histogram Cells)-------------------}

for
jPrice = {0}xxend
to
NbrPriceRows
begin
Histo[jPrice] = 0;
end;

{------------------- (Compute Histogram)-------------------}
{------------------- (dPrice must be > 0, otherwise exit without Plotting v1.1 fix)-------------------}
if
dPrice > 0
then
{end1} begin
TotVol = 0;
dVol = 0;
TotVolx = 0;
dVolx = 0;

for
jBar = {0}xxend
to
(xHistoBars-1) {changed for endid}
begin
jLow = floor((L[jBar] - MinPrice)/dPrice); {31Jan05, removed +1 , v2.2 fix}
jHigh = floor((H[jBar] - MinPrice)/dPrice); {31Jan05, removed +1 , v2.2 fix}
if
((jHigh - jLow) > 0)
then {31Jan05, case where all trades at 1 price, v2.3}
begin
if
(SinDistVol)
then
dp = 180/(jHigh - jLow); {30Jan05,chged * to /, moved out of loop, v2.1}

if
(SinDistVol )= false
then
dVol = ticks[jBar]/(jHigh - jLow);

{------------------- (scale by area of sin pedestal = 1/2.785)-------------------}

for
jPrice = jLow
to
jHigh
begin
if
(SinDistVol)
then
dVol = 0.35991*{volume}Ticks[jBar]*(sine((jPrice-jLow)*dp ) + 0.25);

if
(SinDistVol)
then
TotVol = TotVol + dVol;
Histo[jPrice] = Histo[jPrice] + dVol;

if
(SinDistVol) = false
then
TotVol = TotVol + dVol;
end;
end;
end;
{------------------- (Plot Histogram)-------------------}

{Volume must be > 0, otherwise, exit without plotting v1.1 fix}

if
(TotVol > 0)
then
{end2} begin
{------------------- (Normalize Histogram)-------------------}
MaxHisto = -100000;
MaxHistox = -100000;

for
jPrice = 0
to
NbrPriceRows
begin
Histo[jPrice] = Histo[jPrice]/TotVol;

if
(Histo[jPrice] > MaxHisto)
then
MaxHisto = Histo[jPrice];
end;

{------------------- (Plot Profile using trendlines v2.0 fix-)-------------------}

{---------Scale Histogram-----------}
for
jPrice = 0
to
NbrPriceRows
begin
Histo[jPrice] = (round((xHistoBars-xxend)*Histo[jPrice]/MaxHisto, 0)*.875);
end;


{------------------- (xxx)-------------------}
for
j = 0
to
NbrPriceRows
begin
Dates[j] = Date[round((xHistoBars - Histo[j])*scalelocationpercent,0)];
Times[j] = Time[round((xHistoBars - Histo[j])*scalelocationpercent,0)];
end;

if
lb = false
then
begin
plot10[round((xHistoBars - Histo[NbrPriceRows])*scalelocationpercent,0)](c+5, "plot10", red);
plot11[round((xHistoBars - Histo[NbrPriceRows])*scalelocationpercent,0)](c-5, "plot11", green);

if
scalelocationpercent <> 1
then
dum = text_new(date[round((xHistoBars - Histo[NbrPriceRows])*scalelocationpercent,0)],
time[round((xHistoBars - Histo[NbrPriceRows])*scalelocationpercent,0)],c-6,"scaled location smaller to fit chart");
lb = true;
end;

{------------------- (Ticks)-------------------}

{Delete prior set of TLs}
if
FivLines
then
d15=5
else
d15=1;

if
((FirstTimeThru = false)
and
(NbrTLs > 0))
then
begin
{if deletpeaks then }
for
iTL = 1
to
LisID
begin
if
deletpeaks
and
LisTLs[iTL]>0
and
xvalue1<>2
or
(deletpast
and
LisTLs[iTL]>0)
then
begin
if
seetext
then
text_delete(txt[iTL]);
TL_Delete(LisTLs[iTL]);
end;
LisID=0;
end;

for
iTL = 1
to
NbrTLs
begin
if
delettls
and
iTLRef[iTL,D15]>0
and
xvalue1<>2
or
(deletpast
and
iTLRef[iTL,1]>0)
then
TL_Delete(iTLRef[iTL,D15]);
{ iTLRef[iTL,5]= iTLRef[iTL,4];
iTLRef[iTL,4]= iTLRef[iTL,3];
iTLRef[iTL,3]= iTLRef[iTL,2];
iTLRef[iTL,2]= iTLRef[iTL,1];
if iTLRef[iTL,2]>0 and FivLines then
TL_SetColor(iTLRef[iTL,2], color+7); }
NbrTLs=0;
end;
end;

{--------Plot Market Profile-----------}

for
j = 0
to {round(}
NbrPriceRows{*.5,0)} {fix v2.2}
{end3} begin
yPrice = MinPrice + j*dPrice;
{BeginVal = yPrice;}
EndDate = Dates[j];
EndTime = Times[j];

if
j >0
then
begin
prevyprice = MinPrice + (j-1)*dPrice;;
PrevEndDate = Dates[j-1];
PrevEndTime = Times[j-1];
end
else
begin
prevyprice = yPrice;
PrevEndDate = Dates[j];
PrevEndTime = Times[j];
end;

TLRef = TL_New(prevendDate, prevendTime, prevyPrice, EndDate, EndTime, yPrice) ;
{Save TLRef}
NbrTLs = NbrTLs + 1;
iTLRef[NbrTLs,1] = TLRef;
TL_SetSize(TLRef, 0) ;
TL_SetStyle(TLRef, 1) ;

if
FivLines = false
then
colored = color+7
else
colored = color;

TL_SetColor(TLRef, colored);

{------------------- (xxx)-------------------}

if
HiV1LowV2Both3non0 > 0
and
j > 3
and
j < NbrPriceRows
then
begin {histo is}
condition1 =
(
Histo[j] > Histo[j-2]
and
Histo[j] > Histo[j+2]
and
(
Histo[j] >= Histo[j-1]
and
Histo[j]>{=} Histo[j+1] {peakes}
)
);

condition2 =
(
Histo[j] < Histo[j-2]
and
Histo[j] < Histo[j+2]
)
and
(
Histo[j] <= Histo[j-1]
and
Histo[j] <{=} Histo[j+1] {lows}
) ;

condition3 =
(
Histo[j] > Histo[j-3]
and
Histo[j] > Histo[j+3] {peakes}
);

condition4 =
(
Histo[j] < Histo[j-3]
and
Histo[j] );
end;

{ if 1=1 and (condition1 {or condition2} )and (condition3 {or condition4 }) then begin}

if
(
HiV1LowV2Both3non0 = 1
and
condition1
and
condition3
)
or
(
HiV1LowV2Both3non0 = 2
and
condition2
and
condition4
)
or
(
HiV1LowV2Both3non0 = 3
and
condition1
and
condition3
)
or
(
HiV1LowV2Both3non0 = 3
and
condition2
and
condition4
)
then
begin
{------------------- (xxx)-------------------}
LisID = LisID + 1;
if
seeplots = false
{and
id>1}
then
begin
LisTLs[LisID] = TL_New({Begin}endDate, {Begin}endTime, {Prev}yPrice, {SW[id,DD]}date, {SW[id,TT]}time,{Prev}yPrice);
TL_SetStyle(LisTLs[LisID], 1) ;
TL_SetSize(LisTLs[LisID], 1) ;
TL_SetColor(LisTLs[LisID], {yellow}color );

if
condition2
and
condition4
then
begin
TL_SetColor(LisTLs[LisID], lowVolColor ); {low volume level:lightgray}
TL_SetSize(LisTLs[LisID], 0) ;
end;
//text
if
seetext
then
txt[LisID] = text_new(date,time+textLoc*BarInterval,yPrice,NumT oStr(yPrice,2));

if
seetext
then
text_SetStyle(txt[LisID],1,2);
end;//seeplots
end;
{end3} end;

{------------------- (xxx)-------------------}

FirstTimeThru = false;
{end2} end; {LastBarOnChart}
{end1} end; {TotVol > 0}

{------------------- (xxx)-------------------}

if
(
LisID > 39
)
then
begin
for
x = 1
to
40
begin
LisTLs[x-1] = LisTLs[x];
LisID=39;
end;
end;

if
currentbar = 1
then
clearprintlog;

xvalue1 = 0;

{------------------- alert once per bar code -------------------}

if
alerts
then
begin
for
xa = 1
to
40
begin
if
LisTLs[xa] <> 0
then
TL_SetAlert( LisTLs[xa], 2 );
end;
end;//alerts