Support Board
Date/Time: Mon, 03 Feb 2025 10:02:46 +0000
Post From: New Feature to Profile Charts
| [2016-12-24 14:47:18] |
| BenjaminR - Posts: 172 |
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I would second this request, and here's why: 1) Poor highs/lows (weak highs/lows) are an established Market Profile concept, like 'single prints'. 2) They more often than not, represent a level where the market auction process is incomplete: therefore foreshadow a return through these levels. I would posit that moreso than single prints. 3) The poor high or low represent a significant data point of 'market memory' and represent 'poor structure', which is an edge to a trader who carries this information forward over several days. 4) Poor highs/lows in the structure become exponentially more significant and likely to be revisited if there are several over a span of time (a few weeks, even), and they have not been "repaired". 5) Poor highs/lows can get obscured or lost, and an automatic marker would be very helpful to keep track of which have been repaired, or which have not - especially if the profile with the poor high is off-screen. 6) A Poor High or Low is not just formed in the day time-frame. A Poor High or Low exist if the following day's high or low is equal to or within a tick +/- of the prior day's high or low. These kind are often overlooked even by those who know profile trading - but are extremely important to be aware of. 7) I'm not sure what other profile software currently does this yet - but there can't be many, and would be another selling point for Sierra Chart (a strong one for profile traders). If and when this feature is implemented, I would request two parameters for the user to set: a) the number of ticks +/- from 'equal' to define a poor high/low. In the YM and CL, for example, a low 2 or 3 ticks from the prior low, I might consider a 'poor low'. These markets are not as exact as others and a buying or selling tail of only 2 or 3 ticks is not a "good high" or "good low" that is likely to hold over time. b) allow the user to disregard the overnight session as 'repairing' the poor high or low. Unless the market gaps up or down out of range on the open, the poor high or low is not considered repaired by the overnight trading. So to have the 'line' or marker remain in place although the overnight session has traded through it, would be extremely useful. Date Time Of Last Edit: 2016-12-24 16:23:09
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