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CL Light Crude Analysis TPO/MP/VWAP/VPOC
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CL Light Crude Analysis TPO/MP/VWAP/VPOC

  #731 (permalink)
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Does any one know of a indicator on futures.io (formerly BMT) thats plots TPO Dvalue area

I need it be able to set the compression setting so it matches my TPO value area levels

Basically i want to track the Dvalue area on my charts

But i want them to line up with my TPO value areas....

I am using a 3 tick per TPO so the TPO value area indicaor would need a comnpression setting so it matches

thanks in advanced

Ryan

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  #732 (permalink)
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greenr View Post
Does any one know of a indicator on futures.io (formerly BMT) thats plots TPO Dvalue area

Do you mean like a channel?

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CL Light Crude Analysis TPO/MP/VWAP/VPOC-intraday-30m-1m-tpo-cl.png  
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  #733 (permalink)
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trendisyourfriend View Post
Do you mean like a channel?

Yes...but a daily

I have one on the gom

but one i think it calculates a value area of 70% and im using 68.26

also i dont you cant set the compression, so it calculates on a 1 tick basis and not the 3 tick compression we use on the TPO profiles

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  #734 (permalink)
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greenr View Post
Yes...but a daily

I have one on the gom

but one i think it calculates a value area of 70% and im using 68.26

also i dont you cant set the compression, so it calculates on a 1 tick basis and not the 3 tick compression we use on the TPO profiles

With Rancho you can set the compression as well as the % levels as you wish. Gom is for volume not TPO profile.

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What method has the best "value area"?

Guys, there is very little difference in value areas when comparing TPOs, Volume or VWAP. You aren't going to find anything drastically different. Just wanted to give you a heads up on this as I've used them all. The TPO should be primarily used for its structure while VWAP helps with confluent trade locations. VWAP provides a smoother reference point because its an average but take your pick among the three as they will most likely provide you with somewhat similar results.

Here's a comparison of the three "value areas".

TPO developing value and poc

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VWAP developing value

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Volume Developing value and vpoc

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Cheers,
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Last edited by Private Banker; January 30th, 2013 at 09:16 PM. Reason: Typo
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  #736 (permalink)
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greenr View Post
Does any one know of a indicator on futures.io (formerly BMT) thats plots TPO Dvalue area

I need it be able to set the compression setting so it matches my TPO value area levels

Basically i want to track the Dvalue area on my charts

But i want them to line up with my TPO value areas....

I am using a 3 tick per TPO so the TPO value area indicaor would need a comnpression setting so it matches

thanks in advanced

Ryan


dvaluearea can be downloaded at ninjatrader.com in the indicator section
it can be customized to do what you need
I like it



shane

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greenr View Post
Does any one know of a indicator on futures.io (formerly BMT) thats plots TPO Dvalue area

I believe the Gom Profiling Toolkit will do it, and can be customized however you wish.

https://futures.io/elite-circle/24449-gom-profiling-toolkit-strategies-market-volume-profile.html

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Private Banker View Post
Guys, there is very little difference in value areas when comparing TPOs, Volume or VWAP. You aren't going to find anything drastically different. Just wanted to give you a heads up on this as I've used them all. The TPO should be primarily used for its structure while VWAP helps with confluent trade locations. VWAP provides a smoother reference point because its an average but take your pick among the three as they will most likely provide you with somewhat similar results.

Here's a comparison of the three "value areas".

TPO developing value and poc

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VWAP developing value

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Volume Developing value and vpoc

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Cheers,
PB

Hi Pb,

Thank you for sharing those comparisons, keen to understand how to use them though
no idea how to use them, I visually adapt, can you point out with arrows where the buy sell areas are please

Cheers ~a~

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  #739 (permalink)
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trendisyourfriend View Post
No more Fibonacci analysis!

@trendisyourfriend: The JacksonZones shown on the chart do include Fibonacci levels.

The analysis of the pivot range has the one advantage that it gives you an indication whether you may expect a trending day or a balancing day. If you use fibs this is quite similar. After an uptrending day (January 29) price must re

-> retrace to value which is the pivot range (in PivotSpeak)
-> retrace 38.2% to the prior confluence level (in FibonacciSpeak)

This is like the shower that you should take after a working day. When the value area has changed, the upper and lower end of the new value area must be tested and the reaction of traders observed. In FibSpeak you will look out for the 38.2% retracement and the 127.2% expansion as shown on the chart attached.

The larger picture for the fibs is more difficult to analyze than the weekly and monthly pivot ranges. To avoid that sort of analysis I just use confluence lines that indicate the area of support and resistance. Let us for example look at the upper resistance line, which is labeled "Fibonacci Confluence Line 1".

This line relies on 5 different Fibonacci lines that cluster in this area. In detail

-> calculate the 127.2% expansion from the October 10 high (95.48) and the November 7 low (85.45), which implies strong resistance at 98.21 (strongest cluster line)
-> calculate the 161.8% expansion from the January 23 high (96.92) and the January 23 low (94.95), which adds to the resistance at the 98.14 level
-> calculate the 200% expansion from the January 28 high (96.91) and the January 28 low (95.47), which adds to the resistance at the 98.15 level
-> calculate the 100% projection from the Janaury 25 low (95.43) and the January 28 high (96.81), which adds to the resistance at the 98.19 level
-> calculate the swing size from the January 4 low (91.97) and the January 10 high (95.15) and add the difference to the January 23 low (94.95), which adds to the resistance ad the 98.13 level.

Out ot the five cluster lines above, the 127.2% expansion calculated from the October 10 high and the November 7 low is clearly the most important line, as it is watched by longer term traders focusing on expansion moves. Therefore it becomes the anchor line of the cluster.

I will not explain the other fib confluence lines, because it would take some 20 or more charts to show how they are calculated. This is just to show that Fibonacci Analysis is not in contradiction with Pivot Analysis. It is just a view on price action from a different angle.

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Private Banker View Post
Guys, there is very little difference in value areas when comparing TPOs, Volume or VWAP. You aren't going to find anything drastically different. Just wanted to give you a heads up on this as I've used them all. The TPO should be primarily used for its structure while VWAP helps with confluent trade locations. VWAP provides a smoother reference point because its an average but take your pick among the three as they will most likely provide you with somewhat similar results.

Here's a comparison of the three "value areas".

TPO developing value and poc

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


VWAP developing value

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Volume Developing value and vpoc

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Cheers,
PB


Just technically speaking the best approach to find the value area would use the median. The median divides the volume into to equal fractions of 50%, half of the volume of the current session can be found above the median and half of the volume can be found below the median.


When 68% of the daily volume is used to identify the value area, then the picture would be as shown below.

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Alternatively Median and value area can be calculated from TPOs. In that case the value area is narrower.

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As you said the VWAP helps with confluent trade locations as it is widely used by large traders. The bands that I use are modified standard deviation bands and cannot be compared with the VWAP bands used by the ACME indicator.

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