Dynamic Market Profile

Author: Optuma Team Last updated: Jul 25, 2020 05:40
Included in Trader Services Included in Professional Services Included in Enterprise Services

Overview

The Dynamic Market Profile is a variant of Peter Steidlmayer’s original Market Profile tool. The dynamic version calculates the standard deviation zones based on the previous ‘x’ bars, and is the basis for the Optex Bands tool.

MASDMPA Large
To add the tool to your chart, select the tool from the Statistical tool group, and left-click on the chart or indicator on which you wish to add the tool. Optuma will then draw the tool using the default settings.

Scripting Function: DMPA()

For example, for scanning when the closing price crosses above the 22 day point of control:

CLOSE() CrossesAbove DMPA(BARS=22, DEFAULT=PointOfControl)

Actions & Properties

Actions

Actions

Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.

Add to Toolbar: Adds the selected tool to your custom toolbar.

Apply Settings to All: When multiple Dynamic Market Profile tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Dynamic Market Profile tools in the chart, page or entire workbook to be updated instantly.

Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.

Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.

Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.

Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.

Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Dynamic Market Profile to a chart, the tool will display using the new settings.

Delete: Deletes the tool from the chart.

Properties

Properties

Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.

Bars: Sets the number of bars that are used in the Dynamic Market Profile calculation.

Price Unit: The value in this field determines what one unit of price is equal to. This may require adjustment depending on the data file that the Dynamic Market Profile is applied to. To change the value, simply click in the field and enter a new value.

Start Date: Nominate the start date for which the tool will apply from on the chart.

POC Line: Expands to display the following properties:

  • Line Style - When the plot style is set to line, you are able to adjust the appearance of the line. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
  • Line Width - Allows you to adjust the width of the line. Moving the slider bar to the right increases the thickness of the line.
  • Line Colour - Allows you to adjust the colour of the line.
  • Transparency - Use this slider bar to adjust the transparency of the line. Moving the slider to the left will increase the transparency.

First Deviation: Expands to display the following properties:

  • Line Width - Allows you to adjust the width of the First Deviation. Moving the slider bar to the right increases the thickness.
  • Line Colour - Allows you to adjust the colour of the First Deviation.
  • Transparency - Use this slider bar to adjust the transparency of the First Deviation. Moving the slider to the left will increase the transparency.

Second Deviation: Expands to display identical properties as the First Deviation.

Third Deviation: Expands to display identical properties as the First Deviation.

Offset: Moves the tool forward or backwards in time. The offset is measured in bars, so a value of 2 will push the tool forward 2 bars and -2 will move the tool back 2 bars.

Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.

Visible: Un-tick this checkbox to hide the tool from the chart.

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