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Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
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Please forgive me.
What you are describing above is the VPOC. I don't see a reference to a time period in your post. By "complete volume histogram" are you meaning across a large range as in days and multiple weeks, please? If so then Jigsaw D&S can't help in this regard. It's VP is only for a session, as you must know.
But either way, "the peak volume price", peak meaning the highest point as in a mountain peak, is considered the Volume Point of Control (VPOC) in Volume Profile. In Market Profile the price that traded the most time, typically measured in 30 minute periods is called just the Point of Control (POC).
Volume Profile being the offspring and natural progression of Market Profile.
Back in the day Peter Steidlmayer at the Chicago Board of Trade did not have Volume available to work with so he had to use what he did have available: time and price.
Volume was only known at the end of the day once the floor traders turned in their paper cards where they wrote down their trades which included volume information of course.
As the age of electronic trading came upon us volume information became readily available.
I looked, The PVP indicator in IRT is for Price volume pattern, not Peak volume price, however they have the VPOC (same thing) available in their volume profiles, and they are the best in charting at volume profile IMO. The indicator is used to take a deeper look at where buy and sell volume went off.
From my understanding POC is calculated over a 30 minute period. The PVP that I am trying to find is not calculated over a specific period of time such a 30 minutes, etc but is calculated in real time (and updated in real time) as the trading session progresses. I hope I am making sense with my explanation as to what I am looking for. Here is what it looks like on a chart.
