Further evidence of the huge gap between fundamentals and technicals hit me as I tried to understand the dialect (or maybe it is even a different LANGUAGE than English) surrounding a branch of technical analysis that was new to me. Market Profile charts display price on the vertical axis, just the same as conventional charts, but for the horizontal axis they use volume over the couse of a specified trading period. In addition, numbers or letters are used to indicate at what time of day (in blocks of time) the trading happened. What different language/dialect?
Peter Steidlmeyer or James Dalton is credited with the concept. The CBOT trademarked the term Market Profile. Value area. Dual aucton process. Acceptance or rejection of price. TPO (time-price opportunity). Establishing parameters. Advantageous versus fair prices. Pioneer range. Price reoccurence. Different kinds of days (normal, trend, netural, normal variation). Distribute. Balanced and imbalanced markets. Control price.
Thinkorswim just rolled out a new charting feature they call "Monkey Bars" (in what seems like an attempt to be playful, but probably actually to avoid infringing the CBOT trademark).
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