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No laughing - it's much aprreciated!
(If you saw the formulas I have THEN you'd laugh!
As the saying goes:
"Crazy- yah crazy like a fox!" LOL
So one shifts yesterday's profile with the o/n gap - that is if Close to Open is minus 3 then slide it down 3 pts, ie a -3 pt adjustment.
So today's est POC is yesterdays adjusted POC, correct?
--- Part 2---
I haven't use Market profile (MP) much. I did start at one time, but concluded that:
A: I would need to read the book to use it properly
B: if everyone was using it then it, then it was so widely known that it probably had little value for me.
(About point B I'm not saying this is true "little value" - I'm just relating where I am coming from in the question below.)
Question
1. Is the POC usually equal the midpoint? , that is if someone told you what today's POC would be before the start of the day, would that level be equal today's RTH midpt?
..........
peace, love and joy to you
.........
Can you help answer these questions from other members on NexusFi?
I read the first paragraph and asked myself: "how am I - a non-programmer - going to test this?" and then reading on found you went off and did it. Thank-you. Your professionalism is noted and appreciated!
Summarizing your findings:
1. yest close is within 6 pts of today's
2. yest midpt is within 4 pts of today's
No laughing - it's much aprreciated!
(If you saw the formulas I have THEN you'd laugh!
As the saying goes:
"Crazy- yah crazy like a fox!" LOL
So one shifts yesterday's profile with the o/n gap - that is if Close to Open is minus 3 then slide it down 3 pts, ie a -3 pt adjustment.
So today's est POC is yesterdays adjusted POC, correct?
--- Part 2---
I haven't use Market profile (MP) much. I did start at one time, but concluded that:
A: I would need to read the book to use it properly
B: if everyone was using it then it, then it was so widely known that it probably had little value for me.
(About point B I'm not saying this is true "little value" - I'm just relating where I am coming from in the questions below.)
Questions
1. Is the POC usually equal the midpoint? , that is if someone told you what today's POC would be before the start of the day, would that level be equal today's RTH midpt?
step 1 take take yesterdays RTH run the fib extentions in both direction to the 127% of the RTH both ways. step 2 run the fib ruler from yesterdays RTH high low to the 127 extentions both ways.. mark of the 50% retracemente of both swings . then set yesterdays range on top or bottom of the 50% retracements. now you have projected range and path of price both ways... half of the range would the mid point. you are saying you will have a brake out of range to the 127 ex then a 50 % pull back then another swing in the direction of the trend ... that is the way markets tend to move...stair stepping,, it would just be a place to start,,,
Based on these I made the summary for the week just finished (ES RTH)
Note POC isn't the true MP POC of the prior day- which I don't know.
ongap= o/n gap and is the amount used where is says "AdJ .."
Abs= absolute of Diff
so as an example: the pivot point for Monday based on Friday (using the classic PP calculation on Friday's RTH numbers) is: 2290.50
and its difference to Monday's midpt of 2259.75 is 30.75
The Adj PP is 2264 and its difference to Monday's midpt of 2259.75 is 4.25
So the total of the abs differences of the Adj PP is 23.50 which divided by 5 would be 4.70
step 1 take take yesterdays RTH run the fib extentions in both direction to the 127% of the RTH both ways. step 2 run the fib ruler from yesterdays RTH high low to the 127 extentions both ways.. mark of the 50% retracemente of both swings . then set yesterdays range on top or bottom of the 50% retracements. now you have projected range and path of price both ways... half of the range would the mid point. you are saying you will have a brake out of range to the 127 ex then a 50 % pull back then another swing in the direction of the trend ... that is the way markets tend to move...stair stepping,, it would just be a place to start,,,
you have time based an volume based profiles the larger the range the less center the pocs are for the most part ,,the smaller the range the more centered the pocs are. i would google range projection ...it is about 16 points on the es i think. you would have to project the range and direction to get the mid point ..you will have your work cut out for you...you might get some insight from JS services they put out a market map on bloomberg and for banks...it cost 1000 a month but they have it now on ninja and bookmap ,,they have a free trail two weeks...the way they are mapping may help you in your research...hope it helps
Try Open+.2. It should improve it ever so slightly. Be sure you can view all the decimals. This one outperforms over most of the entire history I've looked at, most.
aquarian1
From the limited cals in the prior post, the Open as an estimate of the midpt is the winner at 3.25.
(Naturally, this isn't good enough for the perfectionist in me so ideas to improve this anyone??)
For quite some time I worked with PP and different versions of them.
I was looking at matches to H and L
Some days one would match some-days others but not enough to make it worthwhile
(Perhaps your floor pivots are different from regular pivot points? - they seemed to be the ones I calculate - which I called "classic" as opposed to Woody, Camila, etc...)
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
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aquarian1
Thanks Ron,
For quite some time I worked with PP and different versions of them.
I was looking at matches to H and L
Some days one would match some-days others but not enough to make it worthwhile
(Perhaps your floor pivots are different from regular pivot points? - they seemed to be the ones I calculate - which I called "classic" as opposed to Woody, Camila, etc...)
Try Open+.2. It should improve it ever so slightly. Be sure you can view all the decimals. This one outperforms over most of the entire history I've looked at, most.
Do you adding a constant of 0.2 will improve it?
Is this constant the same amount as the average daily trend rise over the period you examined?
BTW the benchmark to exceed is 2.90 (current error of my default formula). This isn't good enough and I want to get it to 1.5.