VOLUME PROFILE - playing with Value Area
The original market profile was developed mainly using 30 minute intraday charts.
However, I find that volume profile is very helpful in shorter timeframes, though I cannot post them here as ideas (though lower down I will as a comment with snapshot).
Here I have changed the Value Area from the default 70 to 38.2, which I find creates a channel around the POC and often is very helpful at showing breakout areas. Generally speaking, the shorter the time period of the chart, the tighter this band can be, though I prefer Fibs. For the 30 min I would use the 61.8, though to be honest I tend not to use the Value Area much when it is that fat.
Anyway, that is the idea: try using a tighter Value Area with a shorter time-frame chart.
However, I find that volume profile is very helpful in shorter timeframes, though I cannot post them here as ideas (though lower down I will as a comment with snapshot).
Here I have changed the Value Area from the default 70 to 38.2, which I find creates a channel around the POC and often is very helpful at showing breakout areas. Generally speaking, the shorter the time period of the chart, the tighter this band can be, though I prefer Fibs. For the 30 min I would use the 61.8, though to be honest I tend not to use the Value Area much when it is that fat.
Anyway, that is the idea: try using a tighter Value Area with a shorter time-frame chart.
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