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TPO and forex

  #18 (permalink)

Legendary Market Wizard
Georgia, US
 
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Grantx View Post
Youre right. The volume by price is a basically the same profile. If dont use TPO to make trade decisions then there is no point paying for the extra functionality. I can still apply most of the market profile principles that I am interested in. Ill continue the evaluation (30 days free with sierra) to see if there are any advantages of one over the other that are applicable to me.
Thanks for the suggestion.

Market Profile was used back in the days of the CME when volume was not available in real time. Using it today as a replacement for volume profile is like using an analog clock for accurate time when a digital one (with sub-second accuracy) is available. It really doesn't make any sense at all.

I still keep open a TPO chart on one of my screens instead of a 30 minute chart (which it effectively is), but it's an addition to VP, which is my main tool.

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