My only concern is that the "money zone" is actually calculated by using the market profile. You are using the Volume by price indicator here, which will have a different "zone" and levels as a result.
The market profile does not account for volume and is simply showing at what price the stock was traded at any given time.
I guess you know this and use this method for the purpose described above, it will still work and will give you a bias for the next days session.
I would love to hear more how you use it and how helpful these levels are.
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Using the "Money Zone" to help predict your trades.
in Day Trading Strategies
Posted
Hi Honeyman. Thanks for sharing this.
My only concern is that the "money zone" is actually calculated by using the market profile. You are using the Volume by price indicator here, which will have a different "zone" and levels as a result.
The market profile does not account for volume and is simply showing at what price the stock was traded at any given time.
I guess you know this and use this method for the purpose described above, it will still work and will give you a bias for the next days session.
I would love to hear more how you use it and how helpful these levels are.