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Displaying the 2nd and 3rd Standard deviation of the Market Profile
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Displaying the 2nd and 3rd Standard deviation of the Market Profile

  #1 (permalink)
Elite Member
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trendisyourfriend's Avatar
 
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Displaying the 2nd and 3rd Standard deviation of the Market Profile

I was wondering, is it possible to plot the 2nd and 3rd standard deviation in I/RT or MarketDelta of the developing profile. Usually we see the 1st Standard Deviation in the form of Value Area High (VAH) and Value Area Low (VAL) but getting the other deviations is another story. I'd like to see these lines in the form of a channel for the TPO as well as the Volume profile.

Does anyone know how to do this ?

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  #2 (permalink)
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This is probably not going to answer your question b/c I think you are talking about an MP chart. But I do use the VWAP indicator on a barchart select the sd's i want then slap a volume profile on it using the profile indicator.

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  #3 (permalink)
 Vendor: www.linnsoft.com 
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LS Chad's Avatar
 
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While you can only choose on Value Area % value in the stand-alone Market Profile charts, you can add multiple TPO Indicators to bar charts, with each TPO Indicator using a different VA % as seen here: Images | ChartHub.com

In this case, I have chosen the MP standard 70% for 1st Std Dev (although you could certainly change that to 68.2 if you like), and 97.2 as the 2nd Std Dev. You could add more if you like at other percentages.

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