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Q/A: Volume Profile Pack For NinjaTrader 8


FEATURES


LICENSING

How do I get the Volume Profile Pack?
Can I get a FREE trial before I make the purchase?
  • Yes, there is a 5-day free trial. Just install the Volume Profile Pack and it will run for free for 5 days (all features unlocked).

In your volume profile and licensing guide, you state that you require the Machine ID. Does this mean it will only work on this machine?
  • Yes, every Machine ID is unique, and the profile will only work on the computer (s) I authorize for you. If you have more then one computer, I will authorize them as well (for free).
What to do if I want to operate on more than one machine?
  • You send me Machine ID of another computer you want to authorize. I will authorize this one as well (for free).
What happens when we replace our computer?
  • When you replace or upgrade your computer, you need to send me the new machine ID so I can authorize your computer again (for free).

GETTING STARTED

I bought the Volume Profile Indicator Pack. What do I do next?
  • First, you need to install NinjaTrader 8 software. You can get it for FREE here: https://ninjatrader.com/
  • Then you need to install the Volume Profile Pack. Installation file can be downloaded on this page: Volume Profile Pack Installer
  • After the installation is complete, you will need to email me your Machine ID. I will use it to authorize your computer to use the TD Volume Profile Pack. To learn your machine ID go to your NinjaTrader control panel and press Help → About…
  • After that, I will authorize your computer to use the TD’s Volume Profile Pack. This could take few minutes, few hours, but usually no more than one working day. I will let you know via email when your computer has been enabled to use the TD’sVolume Profile Pack.

DATA

Do I need CME futures data for NinjaTrader to accurately pick my levels? My concern here is what additional costs will I need to consider?
  • You don’t need futures data! Even though forex is not a centralized exchange, forex data from a big broker (for example FXCM) is surprisingly accurate, and you can rely on them in your analysis. This is why there is no additional cost. You can get FXCM free data feed here: FXCM free data feed. You can also try futures data and compare. There is a free demo (email bound, time-limited) here: CQG futures – free demo.
How can you rely on FX volume seeing there is no central exchange. Won’t different brokers show different volumes?
  • You are right; different forex brokers show different volumes because the forex market isn’t centralized. Best thing to do is to use big forex broker (for example FXCM). Big brokers usually have quite reliable and accurate volume data. I use FXCM forex data, and I must say that when I compare this data to futures data (CME), it is very close.
I noticed that the FXCM data is a trial limited to 30 days so I am not sure what happens after this period. 
  • You can get an unlimited demo here: Unlimited FXCM data (demo).
  • For some users it doesn’t work and the data trial is limited. Here is a guide how to renew the datafeed for free (the video is for NinjaTrader 7, but the process is very similar to NinjaTrader 8):

I downloaded NinjaTrader 8 platform, and it opened up without me entering the username and password. I clicked on File and then Connect, but I did not have FXCM as one of the options. So how do I connect to the FXCM data-feed?
  • Go to this page: Unlimited FXCM data (demo) and register there to get the data (free and not time-limited). After that, you will receive your credentials. Then you go to your NinjaTrader 8 platform and click: Connections– configure and there you can add FXCM data and fill in the username + password from the email you received. After that, you should be able to connect through it.
My FXCM data expired after 30-day trial period. What do I do?
  • Some users (excluding me) experience this problem. I suggest you apply for new FXCM data using this link: Unlimited FXCM data (demo)
  • You will probably need to use a different email address.
  • After you received your new Username and Password go to your NinjaTrader 8 platform and click: Connections– configure and there you can change your FXCM data settings. Fill in the new username + password from the email you received. After that, you should be able to connect to data again

OTHER PLATFORMS/BROKERS

Will this indicator work on a standard  MT4 platform?
  • The Volume Profile Pack works only with NinjaTrader 8. The standard MT4 platform doesn’t have tick volume data (the most precise data).
Can I keep my current broker & MT4 platform?
  • Yes, you can! You only need to do your analysis on NinjaTrader 8. Then you can execute your trades on your  MT4 platform or with any other broker and trading platform you like.
Do I need an additional broker that NinjaTrader recognizes to continue?
  • You don’t need any additional broker. You simply do your analysis with NinjaTrader 8 (for free), and then you execute your trades with your current broker. Just like you are used to.
If you guys have any questions, please shoot me an email to contact@trader-dale.com and I will be glad to help you. I will also answer the new questions I receive in this Q/A section.
Happy trading!
-Dale

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