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How To Add a Technical Indicator Reference Line to Market Profile

Trevor Harnett
posted this on October 26, 2010 16:50

With MarketDelta you have the ability to create reference lines on a Market Profile chart based off technical indicators. A line is drawn as a horizontal reference line on a Market Profile showing the last value recorded for the technical indicator.

Here is an example showing how to add a VWAP to a Market Profile Chart

  1. Create a new Quotepage.
  2. Right click a column and choose "Add Custom Column". Choose "New" from the popup.
  3. Choose Type tab and then Technical Indicator
  4. 10-26-2010_3-12-44_PM.png
  5. Now choose the Calculation tab and check the box to record the indicator into a V# variable.  Click "Add to Quotepage" button then click OK.
  6. 10-26-2010_4-37-27_PM.png
  7. Now open a Market Profile chart and double click it to open the preferences. Choose the Reference Lines tab. Enter a label and the V# number you associated with the technical indicator. In the screenshot below it shows the VWAP and another technical indicator we are plotting (a 10 period simple moving average)
  8. 10-26-2010_4-41-38_PM.png
  9. Here is what the resulting chart looks like showing the moving average line that is plotted in V#19.
    10-26-2010_4-49-06_PM.png