Market Profile Software Checklist

The following Market Profile software checklist is offered as a support tool to help you in your evaluation process:


Data Requirements:

Do you require real-time data?

Will delayed data satisfy your requirments? (for example, there are providers who offer 10 minute delay data covering most of the predominant exchanges and markets. Obviously, the advantage here is that you don't have to pay the real-time eschange fees.)

Will end-of-day work for you if you only look at the arket after it is closed?

Is there some combination of the above that will fit you better? (for example, real-time for the acive contracts you trade and delayed data for those that don't require real time data

Market Requirements:

What markets do you trade?

What exchanges are they on?

What specific contracts do you trade or invest in?

Historical Data Requirements:

How far back do you want to look at data?

Do you want to use it for back testing?

Do you need it for long-term analysis?

Chart Display Requirements:

What are the smallest time increments you want displayed on your charts?

How do you want then displayed -- by tics? By minutes? Volume?

Chart display requirements in addition to traditional Market Profile: Volume Profile? Cumulative Profiles? Merged Profiles? Expanded Profiles? Multiple Profiles? Multiple Time Templates? Overlay Charts? Bars? Candlesticks? Point'n Figure? Equi-Volume? Line? Kagi? Remlp? Range Bars?

Technical Analysis Indicators/Oscillators: Moving Averages, Bollinger Bands, Keltner Channels, MACD, Average True Range, RSI, Stochastics, CCI, Advance-Decline, VIX, Accumulation-Distribution, Money Flow, etc.

Chart Display Enhancement Requirements:

Colors? Colors by Time, Period, Volume? Veretical Lines? Horizontal Lines? Trendlines? Shaded Areas? Crosshairs? Support/Resistance Lines (manual and automatic)? Zoom? Docking? Orphan Windows? Multi-Level persistence (saving)? Customizable object positioning?

Mouse-over tips on navigation, toolbars, and menus? Drop-down and right-click menus? Access to property management configuration options?

Trading Methodology or System Requirements:

Make a list of ALL of the display features and functionality required to provide you with an 'edge' in your identification, interpreation, evaluation, and execution of high probability trading opportunities.

Risk/Money Management Requirements:

Does the software provide any risk or money managemen features or functionality? If so, what are they and how can you benefit from them?

Order Management Requirements:

Does the software support on-screen order entry, position management, and position termination? What brokerage firms are compatible with the application?


Expectations of a Subscriber: What does the provider expect from their subscribers? Can you meet these expectations? If you do, will the relationship be a win/win?

End-User-License Agreement (EULA): What does the provider's EULA require from their subscribers? Can you agree to these requirements? If you do, will the relationship be a win/win?


Alerts: Does the application have visual alerts based on both time and location? Does the application have audio alerts based on both time and location?

Back Testing: Does the software offer back testing capabilities? How does it work?

Cancellation: What is the provider's policy regarding cancellation?


Is the application compatible with other applications such as Microsoft Excel and Google Docs?

How easy and straight forward is the importing and exporting of information?

Can the process be automated to maintain reports in a current state?


One time fee? Monthly? Annually (discounted)? Lifetime payment (discounted)? Does it fit your budget?


Onine Demos? Webinar Tours/Demos? Personal Demos?


Can you add third party apps? If so, to what extent are they available? What do they cost - one time or on going? Are there reviews by current users?


Can it be configured to meet your concept of an 'ideal' chart? If so, how and can you do it or does it take a third party? If not, can it provide workable alternatives? How manageable?


How easy is it to install and set up? Are there easy-to-follow printed materials? Are there helpful videos? Is there personal assistance for the installation and initial configuration?

Invalid Entries:

Procedure for handling?


Boot up, execution, configuration and display refreshing?

Print Options:

Does the application support printing?

Replay Functionality:

Does the application support replayng of previous sessions? What are the limitations?


What types of training are available? Is it free -- if so, for how long? Are there different levels of training -- if so, what are they and what do they cost?

Trial Period:

Terms? Conditions? Full version or trial/sample version?

Saving work:

What is the procedure for saving charts and workspaces?


Add to or delete features and/or functionality as wants and/or needs change?

Scripting Language:

Does the application provide user a user scripting feature for the designing, configuring and implementing of custom indicators, oscillators, and studies?

How easy is it to learn, make changes to, and become proficient in using? Are there training sessions available? Does support cover individual scripting?

Support Channels:

Phone? eMail? Chat? Forum? Blog? Knowledge Base? User Videos? Bug Reporting? Support Ticket? On-demand? FAQ? Remote Connectivity?

Support Team:

Availability (days and hours)? Accessibility (how to contact or access)? Responsiveness (policies per channel)? Technical proficiency? Trading experience?

Is the support team availale to help configure the application to the user's methodology? Glossery? Links?

Are there different levels of support? If so -- what are they and how much to they cost?

System/Hardware Requirements:

What are the minimum hardware requirements? If your hardware is below the minimum requirements, what would it cost to meet the minimum requirements?

Processor/Speed? RAM? Video Card(s) Types? HardDrive Capacity? Internet Connection? Other applications?


Costs? Frequency? Procedures? Ability to go back to prior version? Manual Process? Automatic Process?

User Education:

Does the provider offer educationa support to help the user maximize the application's capabilities? If so, how?

User Interface:

How 'friendly' is the user interface in regards to both learning how to use it and using it?

How 'friendly' is the navigtion? How easy is it to navigate to or find the control to configure it the way you want your chart to look?


How long has the company provided software for traders? What do their subscribers say about them?

What do their operating values and mission statements communicate?