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I'd like to know why the volume histograms in the Market Profile add-on aren't recording volume-at-price accurately. I watch volume accrue at various prices in the Market Profile while simultaneously watching a separate eSignal price/volume chart in the S&P e-minis. The difference is significant. I have seen volume at a given price differ by as much as 75%. I use the volume at price figures to assist in my trading decision process, especially the ability in the Market Profile to combine several days' activity to discover support and resistance points. This feature is available only in Market Profile as far as I know, and with such inaccuracy in the recording of volume data, the information derived is highly suspect -- garbage in, garbage out. I have called support at least three times with this issue without receiving an adequate response or follow-up-- one time even being told it wasn't an objective of the Market Profile to have accurate volume. I beg to differ. I'd like to get the Market Profile to record data accurately, like the Price/Volume chart that already exists within eSignal. Maybe this forum can be of use to get this issue resolved. Thanks in advance for your responses/comments.
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Loren_H
You may want to read through this thread on the same topic in which Jay Frank explains the discrepancy you are seeing
Hope this helps
Alex -
MP Reply
Thanks for the response. I will make suggestions to the Product Development Team mentioned in the thread you gave me. I know Steidlmayer's bias is toward time development rather than volume development because that is how he developed the Market Profile. It has worked for him for a long time, so why would he change. There are others, myself included, who look at the market with an eye toward refining the Market Profile tool. The most relevant factor with regard to that refinement is the placement of volume. Thanks again for the reply.Comment
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