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Clueless about the letter sequencing in the TPO profile.


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Clueless about the letter sequencing in the TPO profile.

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  #1 (permalink)
jamz
grand rapids
 
 
Posts: 12 since Aug 2021
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Does the order of the letters in a TPO profile matter? For example the letter
E is in the the second bracket of the profile, but appears latter in other time brackets. How can the letter E be associated with the same candlestick? I thought that when the other time participants enter, the letters would be sequential.

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 snax 
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jamz View Post
Does the order of the letters in a TPO profile matter? For example the letter

E is in the the second bracket of the profile, but appears latter in other time brackets. How can the letter E be associated with the same candlestick? I thought that when the other time participants enter, the letters would be sequential.



Hi,

The letters A-M typically correspond to the 13 half-hour “auctions” and which prices they visited, from 9:30AM Eastern/8:30AM CST through 3:30PM Eastern/2:30PM CST of the trading day, with ‘A’ representing 8:30, ‘B’ representing 9:00, etc.

There’s a free PDF of Steidlmeyer’smaterial available from CBOT that you can google or I can providea link in a little bit. The book Mind over Markets by Dalton also has a thorough explanation.




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  #3 (permalink)
 matthew28 
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A picture would help, and knowing the product you are trading, whether it is the RTH or ETH session you are using, which platform or external TPO Chart indicator you have, whether you are using the standard 30 minutes timeframe or something shorter?

The picture below is the NQ for the last week (with the Friday profile split), showing the Regional Trading Hours, RTH session which as Snax says has letters starting at 9:30am ET to 3:30am ET, so it shows the price action from the stock market session running 9:30am-4:00pm ET.

This platform is the Tradovate TPO chart where the session starts with "ABCD....XYZabcd", uppercase then lowercase. This platform allows letter colours to be set by the user but the letters are fixed.
I have used a Ninjatrader Indicator before, the Fin-Alg TPO Chart indicator, where the user could also choose the letters one wanted to use. As I said a picture showing what you mean along with the platform used might make it clearer.

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 bobwest 
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jamz View Post
Does the order of the letters in a TPO profile matter? For example the letter
E is in the the second bracket of the profile, but appears latter in other time brackets. How can the letter E be associated with the same candlestick? I thought that when the other time participants enter, the letters would be sequential.


matthew28 View Post
A picture would help, and knowing the product you are trading, whether it is the RTH or ETH session you are using, which platform or external TPO Chart indicator you have, whether you are using the standard 30 minutes timeframe or something shorter?

The picture below is the NQ for the last week (with the Friday profile split), showing the Regional Trading Hours, RTH session which as Snax says has letters starting at 9:30am ET to 3:30am ET, so it shows the price action from the stock market session running 9:30am-4:00pm ET.

Thanks @matthew28 for including the picture. I was going to verbally describe how the profile is built up, but realized that without seeing it, any description would be meaningless, and I don't have a platform that will display it because I don't use it.

@jamz, if it isn't clear from the image, please ask specific questions and we'll try to answer. I don't know how much you know about how the profile is constructed so I don't want to launch into a big explanation. What you get is a bell-shaped curve for the day, where different letters will appear, often in the same column, based on whether the indicated price level was traded during the letter's period.

It probably would be best if you gave Google a try first to find a detailed explanation of the profile. Perhaps someone will include a link to a good source for a basic explanation ( @snax? ).

Once you get the idea, it all suddenly becomes clear. I sympathize with the fact that it looks confusing until you do.

Bob.

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jamz
grand rapids
 
 
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Sorry for my loose question. I just recently purchased Mind Over Markets and will keep reading. I'm watching a market replay of a 30 min tpo profile and it's starting to make more sense now. Thanks.

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 matthew28 
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Sorry, I edited my original post and somehow removed the picture without noticing.
Here it is again (with the Friday ETH volume profile and high and low of the day on the right).

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 matthew28 
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I misunderstood your first post, I thought you were having problems with your Profile setup/indicator, rather than questions about the concept of it


jamz View Post
I just recently purchased Mind Over Markets and will keep reading. I'm watching a market replay of a 30 min tpo profile and it's starting to make more sense now. Thanks.

There is a Jim Dalton website with new webinar recordings.
https://jimdaltontrading.com/public-webinars/

But he also has an old You Tube channel with earlier videos from before he started listing them on his current website. I would recommend the seven "Kickstart" videos he produced in 2017 as a refresher for people doing one of his courses.
The first one is "J Dalton Trading Market Profile Mastery Series Kickstart Webinar #1".

They are quite lengthy and he isn't the most inspiring of presenters to listen to, but that series could be a good supplement to watch while you read the book.

Trading, ideally structured, is a vehicle for expanding consciousness, not damaging it. - Brett Steenbarger
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