Hi
have been using Rancho Denero Deluxe suit and have the session profile on a 5 min chart, and the Composite on a 15 min chart and find them excellent I use the weekly and monthly VWAPS on the 15 min chart . I also have the profile drawing tool , if you find the market in a balance for a couple of days it is quite good I use it mainly on the longer time frame charts 60 and 120 min charts on balance areas

I think this is a very important aspect of any trading style and that is to have the ability to, at least a decent percentage of the time, be able to forecast the type of day.
If not from the opening then as early in the session as possible. If you can forecast the day then you can forecast the VP and VWAP. If you have some confidence with that then other things get a lot easier.
@Pa Dax often makes a call on the type of day based on early session price action. It can also be done by looking at historical probablilities ie what VP is likely after a large down day or after 3 days of ranging.

On the latter approach - have people been able to extract good metrics and if so is there a good source or good software to do this? Can NT8 be used for this?

Is there a way for you to show some charts for us to visualize what you described here?

This is a great topic and worthy of it's own thread. Maybe @Pa Dax and others would be willing to shine a light on the subject?

HI

Here is my 15 min. chart with the Rancho Denero composite volume profile , with the weekly and monthly VWAP. Both acts as support, and sloping up. I put in the drawing tool as you can get an idea how it works, Price balanced across the VPOC with support from the weekly VWAP and the LVN. at 6601. Resistance from the LVN AT 6626 Which is marked on the left hand side of the chart.

The drawing breaks down the balance It has the same VPOC , The daily VWAP, The VAH. and the VAL. gives a reasonable area to trade for entries and exits .

You will notice the breakout was launched from the VPOC. bars start to increase, There is a short balance using the LVN now as support. Drops and spikes down to the VAL. of the drawing profile, but the body of the candle does not go below the VPOC
@AUS200 (15 Min Heiken-Ashi) 2020_12_04 (5_07_35 PM)


The 5 min chart shows the Session for Rancho Denero volume profile. The profile shows price for the today, and the profile for yesterday, Price had moved up from yesterday profile and was trading around yesterday highs for the session.

Price traded all day above the IBL.66122, and above the midline (yellow line) comes with the Rancho Denero suit. The red line is the movement of the VPOC during the day. From around midday price traded between the VAH and VAL. and midline. The information for the day session is all there on the chart

@AUS200 (5 Minute) 2020_12_04 (5_38_20 PM)

@JonnyBoy

Thanks for this superb explanation of your Vwap system along this thread !.
I use Vwap from some years ago and i agree with all the explanations you give.

I´m now testing your last Template for NT8 combining with my own setup, and as i also use NT Tradedectectors with BigBlocks i would like to ask you if you do too. I consider them very useful for testing the Offer / Demand of the institutions at the decision points of Vwap.