ToS volume profile error
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ToS volume profile error
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Created: by ReximusMaximus Attachments:0

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ToS volume profile error

  #1 (permalink)
SAINT LOUIS
 
 
Posts: 11 since Aug 2019
Thanks: 5 given, 1 received

ToS volume profile error

I have the volume profile indicator on my charts, set to day an not on expansion, so I can see the value area of each day.

When I change time frames (say 5m to 3m) the value area high changes.

Has anyone else seen this? Each time frame shouldn't have it's own value area high, it should be independent of the candle timeframe, right?

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  #2 (permalink)
Legendary Market Wizard
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wldman's Avatar
 
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Yes...

What you are describing is true. Time Frame alone should not change the calculation. Perhaps if you captured some screen shots it would be easier to understand/help?



ReximusMaximus View Post
I have the volume profile indicator on my charts, set to day an not on expansion, so I can see the value area of each day.

When I change time frames (say 5m to 3m) the value area high changes.

Has anyone else seen this? Each time frame shouldn't have it's own value area high, it should be independent of the candle timeframe, right?


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  #3 (permalink)
St. Louis
 
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Leon of Pizza's Avatar
 
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Here's some info I posted a while back:

https://futures.io/thinkorswim/26078-volume-market-profile-thinkorswim-platform-only.html#post606789

NT8 uses the same method, but NT8 allows a 1m resolution to be plotted on any time frame. i.e. you can see the value for 1m resolution on a 30m chart. The NT8 volume profile drawing is easy to use and very valuable, imo. The resolution is set in the drawing's default setup, so you just slap it on the chart. Very nice.

I still prefer TOS and struggle through with a 30d 1m profile chart. Lots of scrolling around to find what you want and you never get a bird's eye view, so it sucks in that regard.

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