The concept of value area is one of the most basic, and yet most important in volume profile analysis. From Markets and Market Logic, by Peter J. Steidlmayer (inventor of Market Profile):
In order to read market activity in the futures market, we will isolate, extract and categorize other timeframe activity, focusing in on and monitoring four portions of each profile:
1 – The value area and how it changes, both directionally and in terms of its high-low range. Monitoring this indicates how the market is facilitating trade. The range of value area as defined by 70% of the day’s volume and its location (higher or lower than the previous day) are illustrated in the lower left hand portion of each profile. This information is important when one is considering whether or not the market is facilitating trade. Continue reading “Insider Bars Basics: Value Area”
Those of you who have been TradingApp Store subscribers for a while no doubt understand that, while it is very convenient, the Store can be a pain in the butt sometimes! Its technology comes with added restrictions, and does not allow developers nearly the flexibility we have ordinary EasyLanguage, ELD files, etc. This post is about changes coming soon which will greatly enhance the user experience for OF-G products. Continue reading “Coming Soon: Improved Reliability with ELD Subscriptions”
Attention OF-G Users: Commencing today, release notes for software updates will be provided via the OF-G Blog rather than by email. Please subscribe by email or RSS to keep up with the latest developments for your product.
All of the OF-G premium products are receiving updates this week, to address some “back office” changes made by the TradeStation. There are two primary issues:
- In recent TradeStation updates, input screens for tradingapps like Time Sales Pro have been opening behind the platform, rather than on top as they historically have. This has been fixed.
- TradeStation fixed a long-standing (7-8 years old) EasyLanguage bug, and this affected how OF-G default settings were saved and retrieved. Changes were needed to address the update. If you have saved your personal default settings for any of the indicators which permit this, you will need to resave them once you get this week’s update. (This is not TradeStation version-sensitive; the changes apply equally to all TS versions.)
Insider Bars Users: There is also a little bug fix in the market depth display of Price Vol Pro. In some instances where market depth updated before the first trade of a new bar, market depth had some display irregularities; these should be fixed now.
Also, I am still anticipating a fix for the Insider Bars tick/volume chart – streaming data optimization issue later this month. So stay tuned.
Most of the OF-G indicators have the option to save and restore default settings. This may be used to transfer favorite settings to new charts, or to transfer your settings from one product to another. For example, if you upgrade your subscription from Insider Bars to OF-G Suite, you can copy the settings from your old Insider Bars charts to your new OF-G Suite charts without having to manually recreate them.
To save the current settings, check the box on the Input Form or choose Save Defaults from the right-click menu.
To restore saved defaults to a chart, chose Restore Defaults from the right-click menu.
Note: Blog posts like this one offer basic information. For more details, see online help.