This is a temporary fix
While I do not offer anything better.
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dlouisbriggs wrote:The current market profile histogram only utilizes the current price data that appears on the screen. One has the choice to zoom out (and lose graphic detail) or limit the histogram to a smaller sampling. Would it be possible to create an option that would allow the user to designate the period of time for the histogram, independent of the zoom level of the currently displayed data? Thank you for a great indicator.
MARKET PROFILE QUICKLY GIVES THE TRADER A VIEW OF HOW THE MARKET IS DEVELOPING, WHAT PRICES ARE BEING ACCEPTED BY THE MARKET AND WHAT PRICES ARE BEING REJECTED.
Market Profile is a tool for organizing time and price data, graphically representing how volume builds at various prices over time. When we see most trades occurring within a relatively narrow range of prices, we know that the market is in balance. Price will probe the edges of this balance area--called the value area--as markets constantly update their estimates of value. If prices higher or lower than value cannot facilitate trade (i.e., if higher prices don't attract buyers or lower prices don't attract sellers), we will tend to trade back into the value area. If these probes to the edges of the value region do facilitate expanded trade, we will break free of the value area in a trending move. That trend will continue until sufficient sellers or buyers perceive value in the new prices and take the other side of the trade, beginning the process of forming a new region of balance.
My specific best practice is to be aware of value areas at one level larger than the timeframe you are trading. Very often, a breakout at a shorter time frame occurs within the context of a longer-term market bracket. Knowing where value is located on the longer timeframe helps you identify price targets for the shorter-term move. (via http://traderfeed.blogspot.com/2007/02/market-profile-best-practice-in-trading.html)
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