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Special FeaturesChapter 4: Market Profile

User Guide

CQG Client Version 7x1

Information in this document is subject to change without notice. No part of this document may be reproduced in any form or by any means, electronic or mechanical, for any purpose without the written permission of CQG, Inc. Information in this document refers to Release 7x1 of CQG software. Your features may vary, depending on your installed release.

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Contents

The Supplemental Services Window 1-1 What is the Supplemental Services Window? ........................................................................1-1 GovPx, Inc. Government Securities Prices.............................................................................1-2 Adding a Supplemental Services Window..............................................................................1-3 The Supplemental Services Toolbar .......................................................................................1-3 Launching a GovPx, Inc. Government Securities Prices Window..........................................1-4 Adding a Supplemental Services Window with Spot Currency Quotes ................................1-5 Adding a Supplemental Services Window with Spread Quotes ............................................1-5 Adding a Supplemental Services Window with LME Quotes...............................................1-5 Changing to a Different Supplemental Services Display........................................................1-6 Displaying a Supplemental Services Price Chart....................................................................1-6 Displaying a Supplemental Services Yield Chart ...................................................................1-7 Supplemental Services Flash Text ..........................................................................................1-7 Changing the Look of a Supplemental Services Window ......................................................1-8

Displaying the Fonts Dialog.....................................................................................1-8 Using the Fonts Dialog.............................................................................................1-9

The Supplemental Services Color Dialog.............................................................................1-10 Displaying the Select Supplemental Services Colors Dialog .................................1-10 The Color Palette....................................................................................................1-11 Using the Select...Colors Dialog ............................................................................1-11

Printing a Supplemental Services Window...........................................................................1-12 Printing to the Clipboard ........................................................................................1-13 Using the Print Setup Command ............................................................................1-14 Printing the Current Page .......................................................................................1-14 Black on White Printing .........................................................................................1-15

Saving the Current Supplemental Services Window to a Page.............................................1-15

Using the CQG Web Browser 2-1 The CQG Web Browser..........................................................................................................2-1 Accessing the Web with the Web Button ...............................................................................2-3 The CQG Web Browser Toolbar ............................................................................................2-3 Establishing Preferences for The Web Display ......................................................................2-4

Establishing a Default Page......................................................................................2-4 Using the Forward and Back Button.......................................................................................2-5 Using the Home Button ..........................................................................................................2-5 Using the Search Button .........................................................................................................2-5 Stopping a Search ...................................................................................................................2-5 Using the Refresh Button........................................................................................................2-5 Using the Faves Button...........................................................................................................2-5

Adding a Page to your Favorites List .......................................................................2-6 Organizing Favorites ................................................................................................2-7 Managing Subscriptions ...........................................................................................2-7 Updating all Subscriptions .......................................................................................2-8

Changing the Font Size of Web Pages....................................................................................2-8

Software Version 7.1 Contents • i

Saving a Web View to a Page.................................................................................................2-9 Printing a Web Page ...............................................................................................................2-9

The Alerts Application 3-1 Alerts in CQG.........................................................................................................................3-1 Adding an Alert Window with the Alert Button.....................................................................3-1 The Alerts Toolbar..................................................................................................................3-2 Entering Symbols in CQG ......................................................................................................3-2 Methods for Finding a Symbol ...............................................................................................3-2 Setting a Price Alert................................................................................................................3-3

Adding a Symbol to the Price Alert Window...........................................................3-3 Setting the Above and Below Trigger Price .............................................................3-3

Alert Actions...........................................................................................................................3-7 Using Sound Actions to Signal a Triggered Alert ....................................................3-8 Using Display Actions to Signal a Triggered Alert ................................................3-11 Sending an E-mail when an Alert triggers..............................................................3-13 Additional Alert Actions ........................................................................................3-14 Showing/Hiding Alert Actions ...............................................................................3-15

Adding a Note to an Alert.....................................................................................................3-15 Inserting and Deleting Rows in Alert Windows ...................................................................3-15 Displaying a Chart or Time & Sales from an Alert Window (without the Alert triggering)..........................................................................................................................3-15 Viewing Filtered Price Alerts ...............................................................................................3-16 Setting a Time Alert..............................................................................................................3-17

Designating the Alert Trigger Time .......................................................................3-18 Time Alert Actions .................................................................................................3-19 The Occurs Column................................................................................................3-19 Resetting a Time Alert............................................................................................3-19

Setting a Study Alert.............................................................................................................3-20 Adding a Study Output to the Alert Window .........................................................3-21 Setting the Above and Below Trigger Value..........................................................3-22 Study Alert Actions ................................................................................................3-23 Resetting a Study Alert...........................................................................................3-23

Setting a Price XLine Alert...................................................................................................3-24 Selecting the Pointer Tool ......................................................................................3-24 Price XLine Alert Actions ......................................................................................3-24

Setting a Condition Alert ......................................................................................................3-25 Adding a Symbol to the Condition Alert Window .................................................3-25 Setting the Condition Alert Signal..........................................................................3-26

Condition Alert Actions........................................................................................................3-28 Restoring a Condition Alert ..................................................................................................3-28 Setting a Trading System Alert.............................................................................................3-29

Selecting the Trading System.................................................................................3-29 Adding a Symbol to the Trading System Alert Window........................................3-29 Indicating Trading System Preferences ..................................................................3-30 The Position Column..............................................................................................3-30 The Reset Index Column ........................................................................................3-30 The On Checkbox...................................................................................................3-30

Resetting an Alert .................................................................................................................3-30 Disabling an Alert.................................................................................................................3-30 Deleting an Alert...................................................................................................................3-31 Changing the Fonts in an Alert Window ..............................................................................3-31

Displaying the Fonts Dialog...................................................................................3-31 Using the Fonts Dialog...........................................................................................3-32

The Alerts Color Dialog .......................................................................................................3-33

ii • Contents Special Features

Software Version 7.1 Contents • iii

Displaying the Select…Colors Dialog....................................................................3-33 The Color Palette....................................................................................................3-34 Using the Select…Colors Dialog ...........................................................................3-35

Printing an Alert Window.....................................................................................................3-36 Printing to the Clipboard ........................................................................................3-37 Using the Print Setup Command ............................................................................3-38 Printing the Current Page .......................................................................................3-38

Saving an Alert Window to a Page .......................................................................................3-39

The Market Profile Window 4-1 What is a Market Profile.........................................................................................................4-1 Adding a Market Profile with the Study Button .....................................................................4-2 Adding a Market Profile using the Pop-up Menu ...................................................................4-2 Adding a Market Profile with the Market Profile Button .......................................................4-3 The Market Profile Toolbar ....................................................................................................4-3

The Trade Button......................................................................................................4-4 Entering Commands ...............................................................................................................4-4 Entering Symbols in CQG ......................................................................................................4-5 Methods for Finding a Symbol ...............................................................................................4-5 Understanding the Market Profile Window............................................................................4-6

Market Profile windows contain the following elements .........................................4-6 Volume Profiles ....................................................................................................................4-10 Changing the Tick or Price Scale of the Market Profile .......................................................4-13

Manually adjusting the Price Scale ........................................................................4-13 Inverting the Price Scale.........................................................................................4-13 Using the Auto Scale Feature .................................................................................4-13 Resetting the Vertical Scale to the Default.............................................................4-14

Changing the Position of Market Profile Distributions.........................................................4-14 Using the Market Profile Cursor...........................................................................................4-15 Changing Market Profile Parameters....................................................................................4-16 Combining Market Profile Distributions ..............................................................................4-17 Splitting Market Profiles Without Combining Distributions ................................................4-18 Using the Scrolling Arrow Keys in a Market Profile Window.............................................4-19 Displaying a Yield Market Profile........................................................................................4-20 Returning to a Bar Chart.......................................................................................................4-20 Changing the Fonts in a Market Profile Window .................................................................4-21

Displaying the Fonts Dialog...................................................................................4-21 Using the Fonts Dialog...........................................................................................4-22

The Market Profile Color Dialog..........................................................................................4-23 Displaying the Select… Colors Dialog...................................................................4-23 The Color Palette....................................................................................................4-24 Using the Select…Colors Dialog ...........................................................................4-25

Printing a Market Profile Window........................................................................................4-26 Printing to the Clipboard ........................................................................................4-28 Using the Print Setup Command ............................................................................4-29 Printing the Current Page .......................................................................................4-29 Black on White Printing .........................................................................................4-29 Hi Resolution Print .................................................................................................4-30 Printing a Portfolio .................................................................................................4-30 Auto Print Manager ................................................................................................4-32

Saving a Market Profile Window to a Page..........................................................................4-33 Bibliography .........................................................................................................................4-33

Markets and Market Logic .....................................................................................4-33 Steidlmayer on Markets: A New Approach to Trading..........................................4-33

Special Features

iv • Contents Special Features

Special Features

The Market Profile Window

What is a Market Profile Market Profiles® display price distributions over a period of time. The Market Profile feature in CQG includes Market Profile® distributions and CQG Volume Profiles™.

Exchange Volume Profiles breakdown the Exchange volume figures to show the percentage of volume that occurred at each price, and Tick Volume Profiles show the distribution of trading activity over the contract's price range.

J. Peter Steidlmayer, formerly of the Chicago Board of Trade, developed the Market Profile concept. Several books are available on Market Profiles including Markets and Market Logic and Steidlmayer on Markets. Market Profile is a registered trademark of the Board of Trade of the City of Chicago.

Software Version 7.1 The Market Profile Window • 4-1

Special Features

Adding a Market Profile with the Study Button When a chart is displayed, you can display a Market Profile using the Study button, the Add Study dialog or the Market Profile button on the Chart toolbar.

To display a Market Profile window using the Study button:

Left click on the Study button on the chart toolbar. This displays the Add Study dialog.

If you are in Tab View in the Add Study dialog:

Left click on Market Profile under the Chart Types tab.

Left click Add to display a Market Profile window.

Or

If you are in Full View in the Add Study dialog:

Left click on the MP button abbreviation in the Button column of the Add Study dialog.

Left click on the Add button. This will display a Market Profile window and add an MP button to the chart toolbar.

To return to the Chart window and close the Add Study dialog:

Left click on the Close button at the bottom of the study list menu.

Adding a Market Profile using the Pop-up Menu To display the Market Profile using the pop-up menu:

Right click in the Chart area to display a menu.

Left click on Add Study to display the Add Study dialog:

Select Market Profile from the list of studies (under Chart Types).

Select the MP Button on Toolbar checkbox to put a Market Profile button on the chart toolbar.

Left click on Add.

4-2 • The Market Profile Window Software Version 7.1

Special Features

Adding a Market Profile with the Market Profile Button

The Market Profile button allows you to display a Market Profile window for the symbol that is on the current chart. The Market Profile button may not appear on the Chart toolbar initially.

To put an MP button on the toolbar and display a Market Profile window:

Right click in the chart area to display a menu.

Left click on Add Study to display the Add Study dialog.

Left click on Market Profile listed under chart types, near the top of the list.

Select the MP Button on Toolbar checkbox.

Left click on Add.

Left click on the Market Profile button.

The Market Profile Toolbar

The Market Profile toolbar consists of 7 buttons:

<IntD> button. For information, see "Using the Intraday Button to Change Time Intervals" in the Charts chapter of the CQG Basics book.

<Hist> button. For information, see "Using the Historical Button to Change Time Intervals" in the Charts chapter of the CQG Basics book.

ExchVol button. For information, see "Exchange Volume Profiles" on page 4-11.

TickVol button. For information, see "Tick Volume Profiles" on page 4-12.

Split button. For information, see "Splitting Market Profiles Without Combining Distributions" on page 4-18.

MP button. For additional information, see "Adding a Market Profile with the Market Profile Button" on page 4-3.


Special Features

The Trade Button

The Trade button is used to activate and de-activate order trading mode in a Market Profile. If you are not logged on to the order routing server and you click on the Trade button to activate it, the Logon Order Routing dialog is displayed. After you logon, you can right click in the Market Profile chart area to display the HeadsUp Display, from which you can place trades.

Entering Commands

The Command Entry Box is located in the lower left corner of the Market Profile window. Use it to change the time interval of a chart or to change to a different market.

To change the time interval of a Market Profile:

Input a comma followed by a number representing the desired time interval. For example: ,30 would change the displayed Market Profile to a 30-minute time interval.

To change to a different market:

Enter the symbol in the command entry box as you would in any other chart.

Like standard price charts, you can plot Market Profiles as continuation charts.

For information on plotting a continuation chart, see "Selecting Continuation Characteristics" in the Charts chapter of the CQG Basics book.


Special Features

Entering Symbols in CQG The method of entering a symbol varies depending on whether you are specifying a futures contract, a stock issue, an option contract, a cash instrument, a bond, or a spread.

For details about entering symbols in CQG, please refer to the CQG Basics book's Introduction chapter, in the topic "Entering Symbols in CQG."

Methods for Finding a Symbol To enter a symbol in CQG, you must know what the symbol is. If you don't know CQG's symbol, you can find it easily.

To learn how to find a symbol in CQG, refer to the "Introduction" chapter of the CQG book, CQG Basics. The topic is called Finding a Symbol.


Special Features

Understanding the Market Profile Window

Market Profile windows contain the following elements

Market Profile Distribution(s)

Market Profile distributions are constructed of TPOs (Time Price Opportunities). Each TPO letter identifies a time period when the market traded at the price indicated on the vertical axis.

Example: In a 30-minute Market Profile, TPO letters are assigned to each 30-minute period, as described in the following table. Upper and lower case “u” and “o” are not used to identify TPOs.


Special Features

30-Minute Bar Construction

A 800 M 1400 a 2000 m 200B 830 N 1430 b 2030 n 230C 900 P 1500 c 2100 p 300D 930 Q 1530 d 2130 q 330E 1000 R 1600 e 2200 r 400F 1030 S 1630 f 2230 s 430G 1100 T 1700 g 2300 t 500H 1130 V 1730 h 2330 v 530I 1200 W 1800 I 2400 w 600J 1230 X 1830 j 30 x 630K 1300 Y 1900 k 100 y 700L 1330 Z 1930 l 130 z 730

When a contract opens during a particular TPO, the first 30 minutes of trading for that contract is plotted using the letter of the TPO that was in progress at the opening. Subsequent trades are plotted using the letter of the TPO in progress at the beginning of the corresponding 30-minute interval.

Example: The opening time for the FF (30-day Federal Funds, traded at the CBOT) day session is 0720 CT. The first 30-minute period runs from 07:20 through 7:49. The “y” TPO identifies the trades that occur during this period. The second 30-minute period runs from 07:50 through 08:19. The “z” TPO identifies trades that occur during this period, etc.

Using Other Time Intervals When a Market Profile is displayed for a time period other than 30 minutes, the TPO letters indicate different information. For example, monthly Market Profiles use the letter "A" to plot the trading activity that occurred during January, "B" plots February, "C" plots March, etc. For a daily Market Profile, the letter "A" represents the first day of a given month, "B" the second day, etc. Since U and O are not used, after the 24th of the month, lower-case letters are used. For example, "a" would represent the 25th , "b" the 26th, etc.

For time periods shorter than 30-minutes, the same TPO letter is used for each of the smaller time periods that occur during a 30-minute period. For example, when a 5-minute Market Profile is displayed, the letter "A" would be used to plot each separate 5-minute period that occurs during the "A" 30-minute period. Therefore, the "A" distribution on a 5-minute Market Profile would contain 6 5-minute "A" plots.

Session Separators Session Separators are dotted vertical lines that appear in the background on a Market Profile window. For contracts that trade during multiple sessions, Session Separators identify the beginning of each trading session. For longer period Market Profiles, for example monthly, they mark the beginning of each distribution, for example the beginning of each year when monthly distributions are shown.


Special Features

Opening Price Markers

Opening Price Markers are small arrows that point to the right and appear immediately left of the Initial Balance Range Indicator. These markers identify the opening price of each trading session displayed.

See "Initial Balance Ranges" on page 4-8.

Current Price Markers

Current Price Markers are small arrows that point to the left and appear to the right of each Market Profile distribution. These markers identify the current price for an active session or the closing price for each closed session, in addition to the TPOs that occurred at that price.

Mid-Point Markers

Mid-Point Markers are small arrows that appear immediately to the left of the first column of TPOs for each Market Profile distribution displayed. The markers identify the mid-point of the trading range for each distribution

Initial Balance Ranges

By default, the Initial Balance Range (IBR) represents the first two trading periods of a distribution. A thin vertical line at the beginning of each distribution identifies the IBR. The line is drawn using the same color as the TPO text. The number of trading periods identified by the Initial Balance Range can be adjusted in the Market Profile setup as follows:

Right click in an empty area of a Market Profile distribution.

Select Adjust Study Parameters.

Enter the desired number under IBR Period.

Date Stamps

Date stamps appear at the bottom of each session separator. They identify the beginning date and the first TPO letter of each displayed distribution.

Tick or Price Scale

The tick scale or price scale appears on the left side of the Market Profile window. The tick scale is initially set to display the entire Market Profile distribution in the Market Profile window. You can change the tick scale to expand or compress the distributions by Left clicking in the scale area.


Special Features

Value Area Indicators There are two types of Value Area indicators: TPO Value Area indicators and Volume Value Area indicators. TPO Value Area indicators are available for all contracts. Blue vertical lines identify Value areas.

TPO Value Areas

TPO Value Area indicators identify the range where 70% of the TPOs occurred. They appear as thin vertical lines to the right of each TPO distribution.

TPO Value Area indicators are available for all contracts. Volume Value Area indicators replace the TPO Value Area indicators when the exchanges transmit volume breakdowns.

Volume Value Areas

Volume Value Areas identify the range in which 70% of each contract’s actual volume occurred. They appear as thick vertical lines to the right of each distribution.

The exchanges that provide actual price-volume information typically do so after the trades have cleared. TPO Value Area indicators appear until the exchanges transmit actual volume information.

Note: Custom sessions cannot be applied to Market Profiles.


Special Features

Volume Profiles

Volume Profiles are horizontal bar graphs that appear to the right of each Market Profile distribution. There are three types of Volume Profiles: Tick Volume Profiles, Actual Volume Profiles and Exchange Volume Profiles. Tick Volume Profiles report the number of trades, ignoring the number of contracts and the prices that occurred in a specified futures contract. Actual Volume Profiles not only report the prices, but also the volume that occurred at each price. Exchange Volume Profiles report not only the price and volume, but also report the CTI type. Actual Volume Profiles are available for all contracts. Exchange Volume Profiles are available only for contracts traded on exchanges that provide actual volume breakdowns, such as the CBOT and CME.


Special Features

Exchange Volume Profiles

To Add an Exchange Volume Profile to a Market Profile:

Left click on the ExVol button.

Each horizontal bar in an Exchange Volume Profile represents the percentage of actual exchange volume that occurred at each price in a contract’s trading range. CQG indicates the percentage of volume attributed to CTI2 (Commercial) separately by shading a portion of the Exchange Volume Profile horizontal bars.

The CBOT provides volume information through the Liquidity Data Bank. The Liquidity Data Bank breaks down the contract volume by price level and customer trade indicator (CTI) category. The Chicago Mercantile Exchange's Volume Analysis report provides the same information for contracts traded at the CME.

Note: The CTI indicator is not available for all commodities.

The exchanges that provide actual price/volume information typically do so after the trades have cleared. Exchanges provide actual volume breakdowns according to their own schedules. Currently, the CBOT provides volume information twice each day at approximately 13:00 and 20:00 CT. The 13:00 volume report includes trades that were sent to clearing between 10:30 and 11:45. The CME provides volume information once each day, early the following morning.

The ExchVol profiles default to "Netted Volume" for contracts sent with cumulative volume and trades. Netted will be displayed on the time scale. If cumulative volume is not available, it will display either Actual or Summary. If both ExchVol and TckVol buttons are applied, Actual, Netted, or Summary will display, unless none exists; then Tick volume will be displayed.

A Tick Volume Profile, identified at the bottom of the profile by the word TICK, appears until the actual volume information becomes available. At that time, the word Exchange replaces the word Tick.

To Remove an Exchange Volume Profile:

Right click on the ExVol button.


Special Features

Tick Volume Profiles

To add a Tick Volume Profile to a Market Profile:

Left click on the TVol button on the tool bar.

Or,

Right Click in the Market Profile workspace.

Left click on Volume.

Each horizontal bar represents the percentage of ticks (price changes) that occurred at each price in a contract’s trading range.

For some contracts only cumulative volume is available. In those instances, Netted Volume is used as a proxy for tick volume. Netted volume is calculated by taking the difference between successive cumulative volumes.

Tick Volume Profiles are available for all contracts. The Tick Volume Profiles are replaced by Volume Profiles when actual volume information becomes available from those exchanges that transmit volume breakdowns.


Special Features

To Remove a Tick Volume Profile:

Right click on the TckVol button.

Changing the Tick or Price Scale of the Market Profile CQG sets the initial Market Profile scale to display complete distributions. If the distributions are relatively tight, the scale may be shown in one-tick increments. When large distributions are displayed, the scale is often displayed in multiple tick increments, allowing the distributions to fit within the Market Profile window.

Manually adjusting the Price Scale Left drag up on the Price Scale to refine the scale up to the maximum of a one-

unit increment. The unit increment is set in the Adjust Study Parameters dialog, and does not need to be the same as the tick size. . You can also set the price scale to show one-unit increments by pressing the [Enter] key twice.

Left drag down on the Price Scale to compress the scale.

Right Click on the Price Scale to return the scale to its default size

Or

Left click on the ReScl button.

Or

Press [Enter].

You can also adjust the price scale by entering a number that represents the desired number of units in the Command Entry box.

Example: Entering a 5 would change the price scale to reflect minimum increments of 5 units.

Note: Entering a comma before the number (,5) changes the Time Period of the chart, not the unit price scale increment, in this case to a 5-minute chart.

When the price scale is manually adjusted, the resulting scale is centered around the price previously at the center of the price scale. However, if the price cursor is displayed when the scale is manually adjusted, the resulting scale is centered around the price identified by the cursor.

Inverting the Price Scale Like a bar chart, users can easily invert a Market Profile, so that the vertical scale values are 1/price.

To do this:

Right click on the price scale.

Select Invert.

Using the Auto Scale Feature The auto scale feature takes all the profiles visible on the current screen and scales them vertically so that each profile is completely visible and all the visible profiles completely fill the screen.


Special Features

To use the auto scale feature:

Right click on the price scale.

Select Auto Scale.

Resetting the Vertical Scale to the Default Resetting the vertical scale to the default moves the display the most current profile and activates the auto scaling feature, i.e., takes all the profiles visible on the current screen and scales them vertically so that each profile is completely visible and all the visible profiles completely fill the screen.

Changing the Position of Market Profile Distributions You can change the position of the Market Profile distributions within the Market Profile window.

To change the Market Profile position:

Left click in the Market Profile workspace. The movement of the mouse determines the position of the Market Profile distributions on the screen. Dragging up and down moves the distributions up and down. Likewise, dragging left and right moves the distributions left and right.

These actions can be used to show past Market Profile distributions that may not initially appear.

To bring the Market Profile back so the most recent item is displayed:

Left click on the red arrow at the bottom of the screen.


Special Features

Using the Market Profile Cursor

When the Market Profile cursor is activated, detailed information about each distribution appears at the bottom of the Market Profile window.

To Display the Market Profile Cursor:

Left click once in the Tick or Price scale.

Move the mouse to reposition the Market Profile cursor. Do not drag the mouse, that is, do not press any mouse buttons.

Left click in the cursor box to lock the cursor.

Right click in the Cursor Box to remove the cursor and the information at the bottom of the screen.

The detail information in the Market Profile window changes to reflect the information for the cursor location.

Without a Volume Profile displayed The detail information below each Market Profile Distribution includes:

TPH Time Price High

TPL Time Price Low

TPO TPO counts above and below the cursor. However, tails that are only 1 TPO long are not counted.

TPL to TPH

The range that encompasses 70% of the TPOs

With a Volume Profile displayed The detail information below each Market Profile Distribution includes:

VAH Value Area High, the top of the thin blue line.

VAL Value Area Low, the bottom of the thin blue line.

VOL Total Volume, in other words, the length of the horizontal bar.

CTI2 Percentage of total volume attributed to CTI2 9Commercail Accounts).

TPO TPO counts above and below the cursor. However, any tail only 1 TPO long is not counted, and there can be multiple one TPO tails.

The detail information below each Exchange Volume Profile includes:

Time Time of last Exchange volume update.

Vol Percentage of total volume for each price.

CTI2 Percentage of CTI2 volume for each price.


Special Features

The detail information below each Tick Volume Profile includes:

Vol Percentage of Total Volume for each price.

Note: You can elect to always display the horizontal cursor information, even when the horizontal cursor is not being used. To do this: Left click on the Setup button. Select Preferences. Select the Labels and Values tab. Select the Always Display button in the Cursor Value Box section.

Changing Market Profile Parameters You can change several Market Profile parameters using the Market Profile menu.

To change Market Profile parameters:

Left click on the Setup button.

Select Market Profile Preferences.

Or

Right Click in the Market Profile workspace to display the Market Profile menu. The Market Profile menu can be used to show Volume, Cursor and Current Daily Value; to Split Profiles; and to change Market Profile Parameters.

Select Adjust Study Parameters....to display the following menu items:


Special Features

Parameter Description

Determines the type of volume displayed with the Market Profile.

Tick Only displays Tick volume only.Exch Only displays Exchange volume only.

Exch & Tick displays tick and exchange volume. Exchange volume, when it exists, receives priority over Tick volume.

None disables volume display for the Market Profile.

IBR PeriodDetermines the number of Time Price Opportunities (TPOs) used for the Initial Balance Range.

Line Spacing Determines the TPO Vertical Line spacing as a percentage of the specified font size.

Value ScaleDetermines the scale of the Market Profile by setting the number of minimum price ticks represented by each TPO.

Tick Size Allows you to enter a tick value, which represents the minimum price move.

Resolution* Determines the resolution of the TPOs.Choices are: High , Medium and Low .

Volume

*Resolution refers to how the bars are built, and it only applies to spread Market Profiles. The following table describes how the bars are built for each time frame within the High, Medium and Low resolution classifications.

Intraday Daily Weekly Monthly Quarterly Semi-Annually Annually

HighResolution 1 5 60 Daily Weekly Monthly Quarterly

MediumResolution 5 30 Daily Weekly Monthly Quarterly Semi-Annually

LowResolution 10 60 Weekly Monthly Quarterly Semi-Annually Annually

In other words, the bars for a daily spread chart with High Resolution selected would be built by examining the differences in the closing prices for the respective contracts at each 5-minute interval and constructing the High, Low and Close for that bar based on those differences. Likewise, for a spread Market Profile with a Medium Resolution, the bars would be built from the closing values for each 30-minute interval.

Combining Market Profile Distributions Users can combine Individual Market Profile distributions to produce composite distributions.


Special Features

To combine a 30-minute Tuesday Market Profile distribution with the prior day's (Monday's) distribution:

Place the mouse cursor over the Tuesday date.

Left drag this date over to Monday's date. Drag the cursor slowly until the profile shows the desired letter indicating the time frame when the split-up profile started.

Note: You can maintain the merged session display by saving the merged profile to a page. Otherwise, the next time the Market Profile for that instrument is displayed, the split/merge will not be shown.

To separate Market Profile distributions:

Right Click in the Market Profile workspace to display the Market Profile menu

Select Default Profiles.

Splitting Market Profiles Without Combining Distributions

Splitting Market Profiles allows you to potentially see every price a contract traded at during each time period.

To View Split Market Profile Distribution:

Left click on the Split button. Each Left click will split the preceding distribution until each TPO is broken out, producing a charted Market Profile.

Or

Right click on the Market Profile distribution for the desired time.

Left click on Add Splits.

Market profile splits can be removed all at once or individually.

To Remove all Split Market Profile Distributions:

Right Click in the Market Profile workspace to display the Market Profile menu.

Select Remove All Splits.

To Remove individual Split Market Profile Distributions:

Right Click in the Market Profile workspace in the time frame of the split to be removed.

Select Remove Splits.


Special Features

Using the Scrolling Arrow Keys in a Market Profile Window

The right/left button functions the same way in a Market Profile window as it does in a chart window.

Left click to scroll to the left in a Market Profile window.

Right click to scroll to the right in a Market Profile window.

The up/down button functions the same way in a Market Profile window as it does in a chart window.

Left click to scroll up on a Market Profile window.

Right click to scroll down on a Market Profile chart.

Additionally, you can use the Page Up and Page Down keys to move the Market Profile distribution.

The Time Compress/Expand button makes the fonts in a Market Profile window bigger or smaller.

Left click to increase the font size.

Right click to shrink the font size.

The Price Compress/Expand button.

Left click to expand the Market Profile value/price scale vertically, thereby giving the display more definition.

Keyboard equivalent: [Shift] +[Up arrow]

Right click to compress the chart value/price scale vertically, thereby giving the display less definition.

Keyboard equivalent: [Shift] +[Down arrow]

Or

Left drag up or down anywhere in the Value/Price Scale Area to expand or compress the data, respectively.


Special Features

Displaying a Yield Market Profile Market Profiles can be displayed using Price or Yield.

To display a Market Profile using yield:

Type Yield(contract symbol) on the command line.

Example: Yield(USM) would produce a 30-minute yield Market Profile for the June Treasury Bond contract.

Or

Launch a Market Profile chart from a Yield chart.

Returning to a Bar Chart

Left click on the Bar button to return to a bar chart, if it is on the toolbar.

Or

Right click on the darkened MP button. It will turn gray when a bar chart is displayed.

Or

Right click on the Chart button.

Select Add Chart.

Select Bar.


Special Features

Changing the Fonts in a Market Profile Window

Displaying the Fonts Dialog The Fonts dialog facilitates changing the look of the characters within the currently displayed window. Additionally, the Fonts dialog makes it easy to either customize the fonts or keep the look consistent between displays.

To display the Fonts dialog for the active window:


Select Change Fonts… from the menu.

Or

Right click on the price scale of the Market Profile

Select Change Fonts....


Special Features

Using the Fonts Dialog The Fonts dialog provides access to over 40 font styles, which can be applied separately to different window elements within the same type of display. The Fonts dialog consists of six basic sections and a Restore Defaults button:

• The Font section allows you to easily scroll through all the fonts available on your system to choose the one appropriate for the selected part of the display.

• The Font Style section allows you to apply special characteristics to the fonts. You can make the fonts Italic, Bold, Bold and Italic or Regular style.

• The Size section allows you to select any font size from 8 points to 72 points.

• The Applies to: section allows you to apply different font characteristics to different parts of the same type of window. Specifically, within a Market Profile window, you can apply different font characteristics to the TPO and Value Scale characters, Daily Value Box numbers, Horizontal Scale numbers and the numbers and letters shown in the Volume Profile scale and Cursor Value Boxes

• The Select one the following: section allows you to choose how widely to apply changes within the particular type of window. Within a Market Profile window, changes can be applied to This Market Profile on This page or, All Market Profiles on This page, or All Market Profiles on All pages. In addition to selecting one of those choices, you may also opt to apply your font choices to ALL new MProfiles.

• The Sample section allows you to view selected the font before it is applied to the application window.

• The Restore Defaults button resets the Market Profile window fonts to the state before any changes were made. The defaults for a Market Profile window are CQG Swiss, Regular font and 10 points.

To changing the font of an element:

Select a Font, Font Style, and font Size.

Select the element(s) from the Applies to: section where the changes will be made within the display.

Select the scope for the changes in the Select one of the following section.

Left click on the OK button to apply the changes and close the Fonts dialog.

Or

Left click on the Cancel button to close the Fonts dialog and not apply the changes.

Or

Left click on the Apply button to apply the changes and not close the Fonts dialog.

Or

Left click on the Restore Defaults and Apply buttons to cancel any current or previous changes, returning the fonts to their original state.


Special Features

The Market Profile Color Dialog

Displaying the Select… Colors Dialog CQG designed the Select…Colors dialog to provide an easy and consistent method for changing the colors that appear in the current application. The content of the Select… Colors dialog depends on which window is active when the dialog is displayed

To display the Select…Colors dialog for the active window:


Select Change Colors… from the menu.

Or

Right click on the title bar of the active window.

Select Change Colors… from the popup menu.

The Setup button is available for all types of windows. The Change Color popup menu item currently may not be available for all window types.


Special Features

The Color Palette

The color palette provides one-click access to the 20 standard Windows® colors, allowing users to change the color of nearly every CQG element.

To use the color palette:

Left click on an item in either the Color Element or Color Preview sections of the Select…Colors dialog.

Select the desired color from the palette.

Left click on the […] button to add additional colors to the palette. .

If you choose a text color that is the same as the corresponding background, the text displays in parentheses in either black or white.


Special Features

Using the Select…Colors Dialog The Select…Colors dialog allows users to change many of the on-screen display elements for the application currently displayed. The content of the Select…Colors dialog depends on the type of window that is active when the command is given to display the Select…Colors dialog. Besides providing access to the color elements for the active window, the Select…Colors dialog allows users to select colors for several system-wide elements.

The Select…Colors dialog consists of three basic sections: Color Element, Color Preview and Apply to.

• The Color Element section lists the elements of the particular window that can be colored separately and accesses the color palette, allowing you to select a color for the particular element. The elements of a Market Profile window that can be colored separately are: Text, Background, Highlight (which includes the opening price markers, current price markers, midpoint price markers and the value area indicators), Daily Value Text and Daily Value Background.

• The Apply to section allows you to apply changes differently among the same types of windows. Specifically, within a Market Profile window, you can apply color selections to: This Market Profile Only or All Market Profiles on this page or All Market Profiles on all Pages. In addition to one of those choices, you can also apply your color selections to: All New Market Profiles.

• The Color Preview section allows you to refine your color selections further and to get a general idea how those changes will look before they are actually applied.

To change the color of a display element:

Left click on the color box next to the name of the Color Element.

Or

Left click on the color element in the Color Preview area. In either case, the floating color palette appears.

Select a color from the palette.

Select one of the choices from the Apply to: area.

Left click on the OK button to effect the changes and close the Select…Colors dialog.

Or

Left click on the Apply button to effect the changes without closing the Select…Colors dialog

Or

Left click on the Cancel button to close the Select…Colors dialog and not make any changes to the display.


Special Features

Printing a Market Profile Window

Left click on the Print button to print the active window.

Keyboard Shortcut: Ctrl+P

Right click on the Print button to display the Print menu.


Special Features

Elements of the Print Menu Menu Item Description

Print Prints the selected display.

Print to Clipboard… Prints the selected display to clipboard, allowing it to be pasted elsewhere.

Print Preview Enables the user to see how the printed item will appear on a page before it is actually printed.

Print Setup… Selects a printer and sets the printing characteristics.

Print Page… Prints all the displays on the selected page.

Print Page to Clipboard…

Prints the selected page to clipboard, allowing it to be pasted elsewhere.

Black on White Printing

Prints the selection in black text with a white background to save color and printing time.

Hi Resolution Print Prints the selection using the entire page.

Auto Print Portfolio

Prints the charts and any displayed studies for each issue in a user-defined portfolio at a user-specified time. For information on setting up a user-defined portfolio, see below.

Auto Print ManagerShows all the scheduled print jobs and allows the user to cancel the printing of individual charts, rather than the entire job.


Special Features

Printing to the Clipboard

Printing a window to the clipboard allows you to save images and use them in other applications. The Copy Image dialog also allows you to save an image of the window to a file or to print it on a printer.

To print a page to the clipboard:

Right click on the Print button.

Select Print Page to Clipboard.

Select the Target for the image. Select Bitmap to save the image in bitmap format.

Select PaintBrush object to save the image in a format that can be edited using the PaintBrush application.

Select GIF file to save the image in GIF format, which can be used in an HTML document.

Select a color scheme. Selecting a greater color depth increases the size of the file.

Select a destination for the image. Choices include:

Menu Item DescriptionClipboard Copies the image to the clipboard.

Save As… Saves the image in a user-selected file with a user-selected name.

Print Displays the Print dialog so you can print the selected image.

Cancel Cancels the copying and closes the dialog.


Special Features

Using the Print Setup Command

The Print Setup dialog allows you to:

Select a printer from the dropdown list.

Determine the status of the selected printer.

Select a paper size.

Select a paper source from the selected printer.

Select the paper orientation.

Select various document properties.

Printing the Current Page To print all the displays on the current page:

Right click on the Print button

Select Print Page…

Black on White Printing The Black on White printing option allows you to print displays using black text and black lines on a white background, even if the screen colors have been altered.

To use the Black on White printing option:


Select Black On White Printing.


Special Features

Hi Resolution Print When the high-resolution print option is selected, CQG prints the selected chart display over the entire page, thereby adding greater detail to the display.

To select Hi Resolution Printing:


Select Hi Resolution Print.

Printing a Portfolio

By selecting the Auto Print Portfolio option, you can set your printer to print a designated portfolio, either immediately or at a user-designated time.

For more information about creating Portfolios, refer to "Defining Portfolios" in the Market Scan chapter of the Using Formulas and Backtesting book.

To print the selected portfolio immediately:


Select Auto Print Portfolio.

Left click on the Portfolio button. This will display the Select/Define Portfolio dialog.

Select a portfolio from the Portfolio Names section.

Left click on the Print Now button to print the selected portfolio immediately.


Special Features

To print the selected portfolio at another time:


Select Auto Print Portfolio.

Left click on the Portfolio button. This will display the Select/Define Portfolio dialog.

Select a portfolio from Portfolio Names.

Left click on the Print at button.

Enter a date in the date box.

Or

Left click on the down arrow, next to the date, to display a calendar:

Left click on the left arrow to move back one month

Right click on the left arrow to move back one year

Left click on the right arrow to move forward one month

Right click on the right arrow to move forward one year

Enter a time in the time box

Or

Use the arrow buttons to enter the designated time.

Select the 2 hour digits.

Left click on the related up arrow to advance the time.

Or

Left click on the related down arrow to move to an earlier time.

Select the 2 minute digits.

Left click on the relevant up arrow to advance to a later time

Or

Left click on the relevant down arrow to move to an earlier time.

Left click on OK.


Special Features

Auto Print Manager

The Auto Print Manager dialog allows you to view the selected items scheduled for automatic printing. Additionally, you can remove a portfolio from the automatic print schedule using this dialog.

To remove a portfolio from the automatic print schedule:


Select Auto Print Manager. The Auto Print Manager dialog appears.

Select a portfolio from the list.

Left click on the Remove button.

Left click on the Close button to close the Auto Print Manager dialog.


Special Features

Saving a Market Profile Window to a Page

Pages are the mechanism in CQG for saving application workspace layouts and related information for future retrieval.

Right click on the Page button to display the page menu.

Left click on New Page to save the workspace contents of the current page and bring up a new page with an empty workspace.

For additional information on using pages in CQG, see "Using the Page Toolbar" in the Main chapter of the CQG Basics book.

Bibliography

Markets and Market Logic J. Peter Steidlmayer, Kevin Koy 1986 Porcupine Press, Chicago, IL ISBN 0-941275-00-0

Steidlmayer on Markets: A New Approach to Trading J. Peter Steidlmayer 1989 John Wiley & Sons, Inc., New York, NY ISBN 0-471-62115-3


Special Features


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