For this week’s free trading tool, we turn our attention to the Market Profile Calculator provided by the good folks at MyPivots. It’s free, available online (i.e. nothing to download or install), and a breeze to use. This tool is a pretty nice way for those not currently using the profile to painlessly tinker with the concepts. This particular profile generator uses time-based TPOs to build the profile, which means the POC and Value Areas will be calculated using whatever period of time you choose. I put this out there simply because you’ll commonly find profiles get built using one or a combination of the following methods – time, volume, or tics. We will discuss these methods further, but in a separate article 
Using the calculator is pretty straight forward. Pick your instrument, get some high/low data for whatever timeframe you’re interested in, paste it into the data box, set your parameters, and click “Generate”. Presto! Insta-profile. Here’s a visual aid:
Market Profile Calculator
How you get the data to paste into the calculator will depend on your data feed or broker feed. You can also go to Google or Yahoo! for free historical data. Not aware of free intraday data, so if anyone does let me know and I’ll update with a link.
So there ya go, take a few minutes, throw some data at MyPivot’s Market Profile Calculator, and check out some profiles for different instruments, days, and timeframes. If you are new to the Market Profile, be sure to check out our list of MP related resources. Enjoy and have a great weekend
