OmniTrader Pro Resource Forum
OmniTrader Pro Technical Support
Market Profile Indicator
7 replies, 983 viewings
|
OmniTrader Pro Resource Forum
OmniTrader Pro Technical Support
Market Profile Indicator
|
Last Activity 4/16/2025 3:28 AM 7 replies, 983 viewings |
|
|
|
| Printer friendly version |
Boris Lund Regular  Posts: 59 Joined: 12/9/2021  User Profile |
I need to look at volume at a lower timeframe so I can see the lower timeframe price and volume distribution. If I look at the one hour timeframe I would look at the underlying 5min intervals. But first I need to be able to address the underlying timeframes correctly. In the simple example it should look at the 30min timeframe while I am on a 60min. The volume of the last 30min plus the 30min before should add up to the current 60min bar volume. But it doesn't... #Indicator dim a,b,d as single a=mt(v,"30m",1) b=mt(v,"30m",1)[1] d=a+b plot("a",a,black) plot("b",b,green) plot("d",d,blue) Return 0  Attached file : Market Profile2.png (7KB - 164 downloads) | ||
| Barry Cohen Idol   Posts: 2305 Joined: 1/1/1900 User Profile |
#Indicator dim a,b,d as single a=mt(v,"30m",3) b=mt(v,"30m",3)[1] d=a+b plot("a",a,black) plot("b",b,green) plot("d",d,blue) Return 0 | ||
| Boris Lund Regular Posts: 59 Joined: 12/9/2021 User Profile |
Also the vol is unchanged for several consecutive bars so something else must be wrong. Attached file : 30minVol.png (38KB - 169 downloads) | ||
| Boris Lund Regular Posts: 59 Joined: 12/9/2021 User Profile |
But this picture clearly shows that I only get the total 60min volume even addressing the 30min timeframe. a=mt(V,"30m",3) plot("a",a,black) This should give me the last 30min volume. Instead it gives me the whole 60min. It is also clear that the green is one 60min timeframe shifted, and also showing the whole 60min volume. b=mt(V,"30m",3)[1] Shows the volume one hour ago for the the whole hour. [Edited by Boris Lund on 7/10/2022 3:46 PM] Attached file : Lower timeframe not working.png (37KB - 166 downloads) | ||
| Boris Lund Regular Posts: 59 Joined: 12/9/2021 User Profile |
Sorted addressing lower timeframes from a higher timeframe perspective. Attached file : timeframes explained.png (142KB - 190 downloads) | ||
| Barry Cohen Idol Posts: 2305 Joined: 1/1/1900 User Profile |
| ||
| Boris Lund Regular Posts: 59 Joined: 12/9/2021 User Profile |
On a 15min lower timeframe it is easier to see. a=mt("V","15M",2)[0]. The offset refers to the current timeframe. The second parameter has no influence here since we are referring to a lower timeframe. b=mt("V","15M",2)[1] The offset will point us to the last 60min timeframe and give us the last 15min data. The offset point to the current (60min) timeframe and not the 15min referred lower timeframe. Then I tried a workaround changing the timeframes, since the 15min[1] is equal to 30min minus 15min like this mt("V","30M",2)-mt("V","15M",2) That works. So now I have 15min[0] and 15min[1] the two last 15min component. So now it should only be a matter of adding timeframes of bigger sizes in steps of 15. Thus we need the 45M. Adding that, the 3. 15min timeframe (15min[2]) should be the 45M-30M like this mt("V","45M",2)-mt("V","30M",2) But that doesn't work. Something messes up due to the 45M offset not being a whole fraction of 60M. So I am back to not being able to refer to the individual smaller timeframe offsets. Attached file : timeframes 15min_b.png (179KB - 175 downloads) | ||
| Steve Johnson New User Posts: 3 Joined: 4/29/2020 Location: Olathe, KS User Profile |
You are correct that the value returned for OLHCV is the last lower timeframe bar within the larger timeframe. Then it hit me to try this: MT(V[1],"5M",0) to get the previous 5 min bar. Unfortunately, OT didn't like that syntax and wouldn't compile. But wait! Wrap V[1] inside an indicator and maybe... ExtractV.txt #Indicator #Param "Barsback", 0 Dim mydata As single mydata = V[Barsback] Return mydata Then: MT(ExtractV(2),"5M",0) will give you the first 5 min volume bar from the 15 min bar. I tried to build an elegant solution where I could pass in the data type (OLHCV), bars to look back, lower timeframe number (e.g. -1) and # of lower timeframe bars covered by the current timeframe, but the ExtractV indicator would not work using variables in the MT formula. It just would not compile unless I inserted a simple number for the Barsback parameter. My only solution idea is a large select case structure for each data type and bar position. If you want to cover looking at say 5 min bars from a 60 min current timeframe, you need 12 select case statements for each data type you want to cover. Hopefully that gives you enough to continue your original idea. |
|
|
|
|
Administrator
Forum Moderator |
Registered User
Unregistered User |
 E-Mail this thread to a friend |
Toggle e-mail notification |
