TAS Market Profile Charting Package For Tradestation

User’s Guide, ver 1.2

Table of Contents

Introduction Page 3

Installing the TAS Market Profile Charting Package Page 4

Overview Page 9

TAS Boxes Page 11

TAS Vega Page 12

TAS Navigator Page 13

TAS Ratio Page 14

TAS PCLs Page 16

TAS Market Map Page 18

Support Information Page 18

Introduction

The TAS Market Profile Charting Package is a suite of technical analysis chart indicators that allow

users (with no need of advanced chart data) to see the market in completely new ways. There are

seven indicators in all, most of which use volume data to create graphics right on the chart that show

various useful information.

The TAS Market Profile Charting Package is now on Tradestation as part of its TradingApp store.

The indicator package is made up of these seven indicators:

TAS Market Map delivers a visually-appealing Market Profile layover that reveals volume gaps,

congestion and breakout trades.

TAS Boxes expose the "fair auction" supply and demand value areas. Trade in breakout mode when

outside of these levels or play the range inside. Use them to set volatility-adjusted trailing stops.

TAS Vega powers up your price bars in REAL-TIME by replacing traditional coloring with TAS

directional bias cues (green = bullish, red = bearish). You'll know when markets are in or out of

balance.

TAS Navigator is a versatile indicator that identifies when momentum is increasing or decreasing.

Know when trend exhaustion is likely and prepare for market turns.

TAS Ratio shows price divergence and when markets may be overbought or oversold. It’s an

exceptional tool for early identification of counter-trend trading opportunities.

TAS PCLs (price compression levels) are two related indicators that provide 3 or more levels of

support and resistance. "Statics" PCLs remain set for the day and "Floaters" adjust dynamically.

Installing the TAS Market Profile Charting Package on Tradestation

You’ll install the indicator suite through Tradestation’s TradingApp store. Your possession of this guide

likely means you’ve already completed this process but it is described here for those who may need it.

1. After logging into your Tradestation account on

https://tradestation.tradingappstore.com/featured, search for TAS Market Profile or simply

click here to be taken to our product page:

https://tradestation.tradingappstore.com/products/TASMarketProfile7-IndicatorImmersionPa

ck

This URL is subject to change, so we recommend using the TradingApp store’s search function

to find us.

2. On our product page, choose either the free trial or the subscribe option to optain access to

the indicators. As shown below, it’s on the top right of the page, below the price.

3. Agree to the terms if you wish, and the site will begin the download process. It will present

you with the button to download the actual files the next time you use the Tradestation

software.

Inserting and Modifying the Indicators on a Chart

We have included a sample workspace in your TradingApp store package. We recommend reviewing it

when you begin using our software as this will give you a good starting point for building your own

workspaces. Recommended input parameters and indicator combinations have been included to give

you an idea of common usage of TAS Market Profile indicators. Click on the "Launch" button in the

TradeStation TradingApp Store Dashboard to launch a sample workspace for the product.

To insert an indicator into a chart, follow these instructions:

1. Right-click in any chart and select Insert Analysis Technique

2. In the “Indicators” tab, select the TAS Market Profile indicator you wish to insert, like in the

image. Then click “OK.”

To modify an indicator:

1. Right-click the chart again and choose Format Analysis Techniques. When that window

opens, select the indicator to modify and choose the “Format” button.

2. From here you can adjust colors and parameters, like shown in the image below. You can

also adjust scaling of the indicator, which for some indicators (not just TAS) can be used to

display the indicator either on the price bars themselves or another axis.

Overview

Market participants know the value of accurate, timely, responsive, and ―distilled‖

market-generated data. By distilled, we mean data that has been stripped of the unwanted market

noise and presented to traders as information in a screen-based format that’s clearly presented,

intuitive, and most importantly—actionable.

At TAS Market Profile, we believe there are few chart-based market presentation formats that

effectively present what a market is trying to do—and either succeeding or failing to do—as those

developed by J. Peter Steidlmayer in his creation of Market Profile® in the 1980s.

Market Profile® is a statistically based method of aggregating market-generated data and presenting

it in an informational ―profile‖ format that reveals the true auction that is taking place in a market.

This flexible format allows a two-dimensional view of the markets that clearly illuminates the

relationship of two mutually exclusive phases of market activity taking place:

Horizontal price development which is a fair price area in the market where supply and demand are in

relative balance, accommodating both buyers and sellers

Vertical price non-development which is an unfair price area in the market where either supply or

demand are in relative imbalance, accommodating either buyers or sellers—but not both

At TAS Professional, we instinctively knew that Market Profile® provided the right answers we wanted

to know about the market. But one of the challenges inherent in Market Profile® was the steep

learning curve associated with gleaning the right information from the profiles. And there was an

additional subjectivity in its interpretation that left us wondering: Is there a better way to use the core

concepts of Auction Market Theory and Market Profile® and yet simplify the presentation to its

actionable components?

It was the need to overcome these inherent challenges that lead us to develop the TAS Market Profile

Charting Package. After years of ongoing development, we developed this suite of trading tools that

have allowed us, market analysts, and clients around the world to make some very good market calls.

Properly reading and interpreting the market is an endeavor that is as unique of an experience to one

person as it is to another. However, when it comes to trading tools, market participants want them to

timely and accurately perform six main functions:

• Provide intelligence and insight into the broader market structure while at the same time, helping us

pinpoint precise entries

• Speed up analysis of trading conditions in multiple time frames (and quite often in multiple trading

instruments)

• Improve accuracy in reading the market’s subtle clues of imminent change in market activity,

regardless of time frame being observed

• Improve decision making ability by offering multiple and simultaneous views and perspectives of

varying market conditions and environments

• Tightly manage risk in all trades while preserving profits in both directional and non-directional

trades

• Help market participants relax, observe, analyze, interpret, and make good decisions about high

probability situations while the computer does the laborious background analysis of trading levels,

volume, volatility, and the like

Specifically, the TAS Market Profile Charting Package will help you to:

• Clearly read, interpret, and understand where the concentration of crowd activity is located to make

incisive interpretations and timely decisions that are suitable to your application

• Read, understand, and make decisions based on the two phases of market activity—the only two

events that repeatedly occur in the market

• Make better decisions by properly interpreting volume-at-price, volatility, pivot levels, momentum

characteristics, and other key market attributes and characteristics in all time frames

• Avoid neutral, low-odds areas in the market—saving time, money, energy and frustration on

―go-nowhere‖ situations

• Improve market timing and reward-to-risk by understanding where the crowd is lending

demand-support in a declining market or supply-capping a rising market

• Analyze and trade the market on your terms according to your tactics, strategies, and

methods—which can now be supplemented by the TAS Indicator Suite.

TAS Boxes

TAS Boxes displays a dynamic representation of developing balance and imbalance areas by

measuring volume-at-price, a statistical method for aggregating trading data that has its roots in

Auction Market Theory and Market Profile®. Profiles are displayed as a series of three horizontal

lines. The profiles are calculated based on the price action from the previous profile and new profiles

are derived from a proprietary swing and momentum algorithm that dynamically calculates the next

Boxes profile.

● Specifically designed for profiling securities that have a volume component.

● TAS Boxes is usable on all time frames

● The longer the time frame, the more robust the support and resistance areas are that are

identified by the unfair low and unfair high

● Use to identify low risk, high probability areas to trade while measuring relative volatility

● The top/bottom lines of TAS Boxes profiles are the interim unfair high and unfair low areas,

respectively. The middle line represents the high volume node or point of control which is the

area where the most volume occurred in that balanced area.

● When price is trading inside TAS Boxes profiles, it depicts an interim state of market balance,

an area of trade that is deemed fair to both sides. New profiles form after the market moves

away from balance to imbalance when new valuations are detected from market data. When

price goes into imbalance, either a new set of TAS Boxes profiles will form or price will be

pulled back into the existing profiles.

TAS Boxes Applications

● When price is bracketed inside a TAS Boxes profile, the top line is considered a supply area

(resistance) and the bottom line is considered a demand area (support).

● When price moves outside the top of a TAS Boxes profile (a) a breakout has occurred; (b) the

market bias is directional to the upside; (c) and the relative vertical speed of movement

through price levels will likely increase.

● When price moves outside the bottom of a TAS Boxes profile (a) a breakdown has occurred;

(b) the market bias is directional to the downside; (c) and the relative vertical speed of

movement through price levels will likely increase.

● When breakouts and breakdowns occur above and below TAS Boxes profiles, there is a high

probability that the new directional move will remain intact until a new TAS Boxes profile

occurs.

● Previous TAS Boxes profiles to the left in the chart are support or resistance areas where the

market will either pause and reverse—or pause, consolidate, and then resume the current

directional move.

Input Parameters:

1. MinSignal_123: Sets the signal strength to be considered when forecasting market swings. 1 = weak; 2 = medium; 3 = strong.

2. Length: Sets the look-back period for the momentum oscillator from which swings are derived. 3. MapLength: The length, in bars, of the internal profile map that TAS Boxes creates to

determine the three key value areas it displays.

TAS Vega

TAS Vega is a combination indicator that takes several key TAS concepts and wraps them into one

easily read indicator. It doesn’t get much easier than TAS Vega’s stop/go, red/green system. We’ve

boiled down the best of Market Map, Boxes and other classic TAS algorithms and created Vega to plot

trade ideas that are as easy to follow as green for longs and red for short.

You’ll find TAS Vega in the Paintbar section of Tradestation’s indicator list.

Input Parameters:

1. SIGNALSTRENGTH: Use this input like TAS Boxes. Enter 1 for quick movements; 2 if you’d like

to wait for stronger signals; 3 if you’re only interested in the strongest signal

2. BOXESLOOKBACK: How many internal Boxes to look back on to find signals. (Note: Boxes are

not shown on Vega – they are internally calculated and used as part of the algorithm)

3. ATRLOOKBACK: Another factor in creating Vega’s internal Boxes, this input determines the

length, in bars, you want each box to use in its calculations

4. NUMOFBOXES: Since Vega uses internally-drawn boxes, this input tells Vega how many boxes

to use in its calculations when analyzing historical data. Higher number here denotes a longer

look back in history

5. COMPTHRESHOLD: Higher numbers here mean you’re looking for breakouts (or breakdowns)

to be more severe before you’re ready for a long or short signal

6. ATRSTOP: Related to Vega’s built-in stop functionality. Higher numbers make stops tight

7. ATRPROFITS: Higher numbers make Vega’s built-in target system greedier

8. ATRLENGTH: This is used in Vega’s calculation of its targets and stops algorithm. Higher values

take more historical data into consideration

9. STOPONTOUCH: Since Vega has a built-in stop function, making this 1 will stop Vega out even

if a tick hits its stop. Setting to 0 will cause Vega to stop out only if the bar closes beyond its

stop price

TAS Navigator

TAS Navigator is a versatile indicator that combines several signals to provide multiple types of

actionable information about underlying trading conditions. Navigator is a composite indicator that

combines classic trend and volatility indicators to highlight trend, non-trend, momentum, potential

exhaustion, and reversal points.

● Rich colorful display of multiple algorithms that is usable on any time frame

● Indicates which side of the trade to be on where there is the highest probability of going in

the direction of capital flow—and which side to avoid where there is lesser capital flow

● Measures momentum and relative strength or relative weakness of underlying trend

● Indicates price divergence and peak conditions

● Shows shifts in market conditions from one phase to the next: uptrend, countertrend short,

downtrend, and countertrend long

Key Concepts:

● When the Navigator histogram is green or red, a long or short trend, respectively, is in place. ● When the Momentum Histogram switches color from green to dark green—or red to dark red,

trend momentum is slowing and countertrend trade opportunities may be indicated. ● Magenta bars indicate trend exhaustion / peaking trend conditions and potentially indicate

that the end of the present trending move is a high probability even. ● Use the color-coded zero line to quickly assess relative volatility as well as identify broader

areas of support and resistance. Yellow indicates a market that is supply balanced; cyan indicates a market that is supply imbalanced.

● Relative peaks of the Momentum Histogram will provide further insight on momentum. Consecutive histogram peaks further away from zero line indicate increasing momentum where consecutive peaks closer to the zero line indicate decreasing momentum.

Input Parameters:

1. Raw: Sets the lookback period for the histogram

2. Smoothed: Sets the slow-smoothing factor for the histogram

3. MABars: Sets the number of historical bars to use for the moving average line

4. SLength: Sets the look back period for calculating market consolidation state which is

displayed on center line

5. SDevs: Sets the standard deviation for calculating market consolidation state which is

displayed on center line

6. SATRs: Sets the standard deviation for calculating the average true range used

7. PLEN: Another averaging input. Longer periods take more historical data into account

TAS Ratio

TAS Ratio is a leading indicator which helps with the forecasting of short-term price movements. It is

best used for gauging target areas for entry and exits points.

● Ratio was designed to identify when price movement is confirmed by volume and volatility

and when market moves lack momentum, conviction, and follow through

● Ratio levels are determined using daily data or a defined time range within a 24-hour period,

however

● Ratio is applicable for intraday charts only Ratio provides helpful information for determining

potential day trading targets in either direction

Key Concepts:

Ratio is most helpful at confirming when price may be at an area of divergence to locate and target

higher probability entries and exits. As a rule of thumb, price should move freely in same direction of

the indicator and in proportionate range of movement. When price fails to move proportionately, as

much as Ratio moves or stalls, this divergence alerts you to focus on immediate areas of support or

resistance using other TAS Indicators such as Navigator, Statics, Market Map, etc. When price stalls

and Ratio does not stall, this is a good indication to seek other confirming factors for a counter-trend

trade. Use other TAS Indicators for confirmation such as Navigator, Statics, and Market Map.

Input Parameters:

1. RangeBars: Overall historical bars you’re considering for calculation

2. AvgBars: A smoothing average is applied based on this number of bars

3. MABars: A second level of moving average is applied using this number of bars

4. ExtremeLvl: denotes how far above or below the zero line you want to consider extreme; the

color changes for extreme movements

TAS PCLs

TAS PCLs (price compression levels)use price-volume analysis and multiple time frame confluence to

calculate and display areas that have a high probability of providing support and resistance, as well as

intraday targets.

● TAS Statics levels are set upon the open of the trading session and remain at the same levels

(hence, “static”) throughout the session

● TAS Floaters use the exact same algorithm but determine the start and end of a trading period

based on swings in price. For example, the beginning of the last swing is considered the

beginning of the day.

● The PCLs algorithm determines levels using daily data or a defined time range within a

24-hour period

● TAS Statics are applicable only to intraday charts; TAS Floaters can be used on any timeframe

● Provides information for determining support and resistance levels, as well as potential

intraday trading targets in either direction

Key Concepts:

When price is trading inside Center Lines, a market is said to be balanced

When price is trading below Center Lines, market bias is anticipated be to the downside

When price is trading above Center Lines, market bias is anticipated be to the upside

Use PCLs as a guide to multiple intraday support and resistance levels for both entries and targets Red

PCLs are projected rotational highs and lows.

When price is trading outside red PCLs, markets are considered to be trending

A tightly compacted concentration or overlapping of Center Lines designates an area of particularly

strong support/resistance level that provides a high probability, lower relative risk area for entries of

extended directional moves

When Center Lines are spread out over a wider range, watch for a more rotational and less directional

trading session If a Center Line is plotted

Input Parameters:

1. MinSig123: (Floaters only) This is used like Boxes in that it determines the strength of the

price swings that are used to determine the beginning and end of the trading session

2. Length: How much historical data, in bars, you want to consider when detecting price swings

3. PlotR1: Show this line, true or false

4. PlotR2: Show this line, true or false

5. PlotR3: Show this line, true or false

6. PlotS1: Show this line, true or false

7. PlotS2: Show this line, true or false

8. PlotS3: Show this line, true or false

9. PlotC1: Show this line, true or false

10. PlotC2: Show this line, true or false

11. PlotC3: Show this line, true or false

12. PlotC4: Show this line, true or false

TAS Market Map

TAS Market Map dynamically calculates and displays a sideways, color coded frequency distribution

histogram by measuring Volume-at-Price, a statistical method for aggregating trading data and

measuring probability that has its roots in Auction Market Theory and Market Profile®.

● Market Maps are set to a user-definable fixed number of look back bars and can either remain

fixed in place or move forward one bar at a time as new bars are printed on a chart

● Provides key insights about where the market is likely to move slowly and develop horizontally

through time versus where the market is likely to move rapidly and vertically through price

levels

● Adaptable to any time frame or tradable instrument that has volume

● Ability to place multiple right-facing and/or left-facing Market Maps of different look back

lengths on the same chart or repeat a set look back period. To make it face the opposite

direction, just switch the values for Bar1 and Bar2

● Customizable profile line density (horizontal line resolution) with key-area highlights

Key Concepts:

Market Maps reveal that markets have the tendency to trade slowly and horizontally while within the

red areas of the Market Map and trade rapidly and vertically while outside the developed red areas.

Market Maps are especially intuitive in large time frames in terms of orienting traders to the general

“tone” and “tempo” of the market. When price is inside the red areas, the market bias is horizontal

and we anticipate strong support and resistance at the extremes of the value area.

Input Parameters:

1. Bar1: The bar number of one end of the Market Map. Uses the Tradestation system of 0 being

the current bar. So, for example, Bar1 = 0 and Bar2 = 50 will have one Market Map from the

current bar going back 50 bars to the left.

2. Bar2: The bar number of the other end.

3. NumPriceBins: How thick, in number of lines, you want the Map to be. Pure aesthetic option.

Support

If you need support, please visit our support page: http://tasmarketprofile.com/wp/support/

Toll-Free: +1.855.4.TASHELP

U.S.: +1.312.985.7920

HelpDesk@TASMarketProfile.com

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