TIME PRICE OPPORTUNITY

Elements of TPO and Volume Profiles - Advanced Course in Discord

  1. Time Price Opportunities. These are known as TPOs for short. These are displayed as alphabetic letters or blocks. Therefore, each individual letter or block is considered a TPO.

  2. The TPO Count for Each Price Increment is displayed as a number to the left of each row in the TPO profile for a period.

    It is possible for a particular price level within a TPO profile or subperiod to have a TPO count of 0 if there was no trading at that price level.

  3. The Initial Balance Range (IBR) is displayed as a vertical line to the left of the TPO Letters/Blocks which represents the price range of the Initial Balance.

    The Initial Balance Range Input setting specifies the number of TPO Profile sub periods which makes up the initial balance range.

    If the Initial Balance Range Input is set to 2, the Initial Balance Range will be the price range of the first 2 sub periods for every TPO Profile. If Letter/Block Time Period Length In Minutes is set to 30, then the Initial Balance Range will be a time period of 1 hour.

    The Initial Balance Range is displayed as a vertical bar to the left of each TPO Profile.

  4. The Opening Price for a TPO Profile for a time period is displayed as a highlighted block or letter. Refer to TPO Chart Color and Width Settings to set the color. The color is set with Open Marker Color (Subgraph 18).

  5. The TPO Midpoint for a TPO Profile for a time period is displayed as a highlighted block or letter directly on the TPO Profile.

    There are two possible calculation methods. For the calculation method descriptions, refer to the TPO Midpoint Calculation Method Input setting description.

    Refer to TPO Chart Color and Width Settings section for information about setting the color for the TPO Midpoint.

    This highlighting can be enabled or disabled through the Highlight Midpoint in Profile study Input setting.

  6. The Last Trade Price for a TPO Profile for a time period is displayed as an arrow pointing towards the right. To change the color, refer to the TPO Chart Color and Width Settings section (Last Trade Arrow Color (SG20)).

    The size of the arrow is controlled by the chart Font Size. It is based upon that size. To change the Font Size, refer to Graphics Settings.

  7. The TPO Point of Control (POC) is displayed as highlighted letters or blocks indicating the price level of the Point of Control. For how the Point of Control is calculated, refer to the How Technical Values are Calculated section.

  8. The TPO Value Area (VA) is displayed as highlighted letters or blocks indicating the Value Area of the profile. The Value Area encompasses the TPOs that are a given % (the default is 70%) around the Point of Control. For how the Value Area is calculated, refer to the How Technical Values are Calculated section.

  9. The TPO Value Area (VA) upper and lower prices can be extended as horizontal lines until the end of the period.

  10. These are the vertical Initial Balance Range (IBR) Extension lines. The IBR Extension Display Mode Input setting allows the 4 IBR extensions to be drawn as vertical bars on the left of the profile (as shown in the image), horizontal bars on the right side of the profile, or both.

    The IBR 1-4 Extension Percentage inputs set the percentage for each of the 4 Initial Balance Range extensions. For more information, refer to the TPO Profile Chart Settings. For any extension that you do not want to display, set the corresponding Percentage Input to 0.

    To change the color of the extensions, refer to the TPO Chart Color and Width Settings section.

  11. These are the horizontal Initial Balance Range (IBR) Extension lines. The IBR Extension Display Mode Input setting allows the 4 IBR extensions to be drawn as vertical bars on the left of the profile, horizontal bars on the right side of the profile (as shown in the image), or both.

    The IBR 1-4 Extension Percentage inputs set the percentage for each of the 4 Initial Balance Range extension lines. For more information, refer to the TPO Profile Chart Settings. For any extension line that you do not want to display, set the corresponding Percentage Input to 0.

    To change the colors or line width, refer to the TPO Chart Color and Width Settings section.

  12. Same as 11 at a different percentage value.

  13. This is the Volume Profile. You will need to add the Volume by Price study to see the Volume Profiles. For additional information, refer to the Displaying Volume Profiles section.

  14. This is the Volume Point of Control.

  15. This is the Volume Value Area.