I'm still fine tuning my chart. The original Market Profile is unchanged - splitting the Profile into distributions is what is important. The bar chart is being tweaked as I find settings in MarketDelta that give me more information. The new concepts of Pete Steidlmayer have proven to be quite revolutionary when translated into the functionality available in MarketDelta. My new normal allows me to track order flow intimately just like we did in the pits - perhaps even more closely.
The chart below uses a volume breakout bar with the order flow bars: Volume Imbalance. A new bar is created when
| The range of the bar is determined once the volume level specified is achieved. Then when price breaks out of this range a new bar is formed. The whole chart is very volume related and very visual. The way I think when I trade has returned to the way that I thought when I was on the floor - which way is the order flow and how strong is it? My win rate is pretty high and as I get more screen time with this chart I'm confident that my average profit size will grow - this was my goal in making the change to my charts. The "was" works pretty well but the new normal will more than double my average profit per trade, trades like buying the low area on the bar chart and selling it at the expected target at the magenta line when order flow lost it's power. |
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