TJ,
Thanks.
"True", or "Classic" Market Profile if you like, works like this...
Clasically a day is split into 30 min segments. Each "letter code"
represents a 30 min segment. You can also define each 30 min segment
by a graphical block of a different color as per,
http://fin-alg.com/MPSmall.png
But truthfully "letter codes" are much better because they form a
chronological order which is important. A letter is placed on the
histogram at each price point which traded during that 30 min period -
from the leftmost column forward. Thus building a typical bell shaped
horizontal histogram.
I am not sure about the full functionality offered by the NinajTrader
plug-in that Pete uses... Pete, can you comment on this...?
But I can imagine that it would allow such things as user defined
periods (i.e. the 30 min segment is variable), the ability to form
composite Market Profiles... i.e. you can combine a number of
concurrent days (still with 30 min segments) to appear in one market
profile that way building a bigger picture of the market place,
returning information about he profile built such as the width (in
number of segments) of the widest point of the profile etc...
I think if you look at this diagram you will see what I mean...
Again, love to be able to achieve this on AmiBroker. The more
experince I get as a trader, the greater my desire to move away from
the vanilla price charting. Maybe that's a trend that will grow more
widely.
Would this be hard to implement TJ?