Market Generate Information (MGI)


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Market Generate Information (MGI) by Trinitas Trading

 Many thanks to Trinitas Trading for this great free tool tool for Ninja Trader

This free MGI (Market Generated Information) indicator automates the process of adding useful information on your chart to help identify trading opportunities, market context and areas of interest to help guide decision making. Three indicators are offered for daily, weekly and monthly time frames.

MGI Market Generate Information (MGI) is a set of key data points and metrics used by traders and analysts in Market Profile analysis. These metrics provide valuable insights into the price and volume distribution within a specific trading session. Here’s a quick description of some common MGI components:

  1. Initial Balance (IB): The IB represents the price range established during the initial trading period of a session, often the first 30 minutes or 1 hour. It’s a crucial reference point for traders to assess market sentiment and potential trading opportunities.
  2. High of Initial Balance (IBH): This is the highest price reached within the Initial Balance range. It can signal resistance if the market fails to break above it or a bullish sentiment if it does.
  3. Low of Initial Balance (IBL): The lowest price within the Initial Balance range can indicate support if the market doesn’t breach it or bearish sentiment if it does.
  4. Opening Range High (ORH): Similar to HIB, ORH represents the highest price reached during the initial trading period but can be used for a broader time frame (e.g., the first 1 hour).
  5. Opening Range Low (ORL): Like LIB, ORL represents the lowest price within the initial trading period but over a broader time frame.
  6. Regular Trading Hours (RTH): This refers to the primary trading hours during a trading day when the majority of trading activity occurs. It’s typically the time between the market’s official open and close.
  7. Market Profile Midpoint (MID): The MID is the midpoint of the Initial Balance range and can be used as a reference point for assessing market direction.
  8. Value Area (VA): The Value Area is a range within the Market Profile that contains approximately 70% of the day’s trading volume. It helps traders identify where the majority of trading activity occurred.

These MGI components are used in Market Profile analysis to create a visual representation of price and volume distribution over time. Traders often use Market Profile charts and these metrics to make informed trading decisions, identify support and resistance levels, and gauge market sentiment. Different time frames (e.g., daily, weekly) can be analyzed to gain insights into longer-term trends and short-term trading opportunities.

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