Dynamic Market Profile Script

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  • #51431
    Fabien
    • Topics: 7
    • Replies: 3
    • Posts: 10

    I’m trying to create a script using the Dynamic Market Profile (DMPA) but I can’t seem to make it work. Maybe my problem is the OFFSET function doesn’t seem exist within the DMPA, so I’m unsure how to proceed. Here is my thinking followed by my script – perhaps you can enlighten me on what I’m doing wrong.

    BUY when:
    The last three Closes are above the last three Opens (e.g. 3 white candles); all of the Opens and Closes are above the DMPA Point of Control (bars=20).
    SELL when:
    The last two Closes were below the DMPA Point of Control (bars=20) (regardless of whether they’re white candles or not.

    My BUY Script:
    var1 = CLOSE() > OPEN();
    var2 = CLOSE(OFFSET=1) > OPEN(OFFSET=1);
    var3 = CLOSE(OFFSET=2) > OPEN(OFFSET=2);
    CLOSE(OFFSET=2) > DMPA(DEFAULT=PointOfControl, BARS=20); and
    CLOSE(OFFSET=1) > DMPA(DEFAULT=PointOfControl, BARS=20); and
    CLOSE() > DMPA(DEFAULT=PointOfControl, BARS=20); and
    var1 + var2 + var3 ==3

    My SELL Script:
    CLOSE(OFFSET=1) < DMPA(DEFAULT=PointOfControl, BARS=20); and
    CLOSE() < DMPA(DEFAULT=PointOfControl, BARS=20)

    Cheers
    Fabien

    #51435
    Matthew
    • Topics: 5
    • Replies: 481
    • Posts: 486

    Hi Fabien,

    Thank you for your post.

    Rather than using Offsets i would suggest using the ACC() function.  I’ve included an example of the adjusted buy script below:

    The shaded green vertical zones show bars that pass the above criteria:

    Ex7

    You can use the ACC() function to create a similar Sell script.

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