Besides the integrated Volume Profile of StereoTrader, an outstanding and unique Add-On is availabe: The MarketProfile by Oliver Klemm.
What´s so special?
When trading CFDs or Forex, the broker´s server will support you only with tick based volume. One can say, with every change of the price, a new „tick“ is generated. The more the traders trade in a market, the more ticks are generated. This is very useful and used to calculate the integrated volume profile, but not accurate.
When trading futures, your broker also provides real volume. This means, not only the price changes are taken into account, the traded volume, the number of traded contracts is recognized as well. And based on this information, its possible to calculate an accurate profile.
It´s an edge!
The Value Profile addOn is based on real volume, taken by the underlying future and calculates the so called Value Area (VA) and the Point of Control (POC), both intraday and for previous days. The Value Area displays the price range where usually 70% of the contracts were traded, the Point of Control is the price where most contracts were traded. The Value Profile is not an indication, probably it´s rather the most important information you can have to get a real edge for daytrading.
The ValueProfile not only gives you exact price levels which will react in most cases, it gives you clear information about if the markt is trending or if it is currently just going sidewards.
Price difference between futures and CFDs
The addon is designed like that, that the price difference between future and CFDs is already taken into account. The levels that you see in your CFD based chart, will always be correct and of course different from the original levels of the future.
He´s got a background of more than 20 years as portfolio manager at Deutsche Bank, BNP Paris etc.. Meanwhile he works as trading coach and he is known as the first address for Market-Profile trading and supervises a community with several hundred active members.
Free edition vs. Pro edition
The installation manager will install both versions. You will find them in the navigator of MetaTrader under Indicators->StereoTrader->OliverKlemm as MarketProfile and MarketProfileLT.
The professional edition is connected to a server and is updated every minute for providing intraday values, while the free edition displays only the data of the previous day(s).
StereoTrader with Pro-Edition of MarketProfile
Blue (DVAH/DVAL) – Valuea area high/low prev. day, Magenta (DPOC) – Point of control prev. day
Blue dotted (iVAH/iVAL) – Value area high/low intraday, Gold dotted (POC) – Point of control intraday
Blue/red curve (VWAP) – Volume weighted average price