Is it possible to be alerted through a signal marker or other means when a single / multiple singles (excess high/low) TPO letters print? I am using a 1 min periodicity. I created a signal marker, but don't see a way that it can be added to a TPO chart. Thanks.
The MPH indicator can identify singles. I just want to make sure we are talking about the same "singles". The singles that MPH identifies are prices with a single TPO (touched 1 bar) with multiple-TPO prices both above and below it. MPH can take these identified singles and extend them while naked as well. Let me know if this is what you're after.
https://www.linnsoft.com/charts/singlesextended-es
I believe the singles you describe above could be caused by an impulse that leaves multiple single letter prints in the TPO chart. So, yes that would be useful. I am also looking for multiple TPO singles causing excess highs / lows - these would be at the top/bottom of the profile.
However, when looking at my 30 min TPO chart, I could not see how the markers in your chart line up with TPO singles on my chart. The prices on your chart definitely do not reflect TPO singles in my chart. Thanks.
If you visit this link...
https://www.linnsoft.com/tpo
and click on "What is are Singles in TPO Charts", you'll get a clear explanation of what singles are being marked when you check the "Singles" checkbox in the Price Levels tab of TPO Chart preferences. (I'l go ahead and past that explanation below as well). It mentions that we only mark the extreme price of a series of singles (highest single if made on way down). My multi-pane chart using MPH is marking all singles prices (and extending them while naked) and not just the extreme price.
So what you're looking to identify....instead of the singles that are surrounded by double-prints on the way up and down...you want the singles at the extremens that do not have double-prints outside them? (like the P at the bottom of the screenshot below)?
What are Singles in TPO Charts?
In TPO Profile charts, "singles" refer to prices within profiles which only contain a single TPO/letter but which are surrounded (above and below) by prices with at least two TPOs. If you look at the TPO profile chart to the right, notice that singles were created in the N period, as those singles have double TPOs both above and below them. However, if you look at the P at extreme low of the profile, that is not considered a single because there are no prices below it which contain 2 or more TPOs.
Given this definition of "singles", and based on user feedback, when singles are taken out (when the current price moves to touch a single from a previous profile that had not currently been touched since it's creation), then it is theorized that price will commonly continue to the extreme price of the profile in which the single was created. Therefore, singles are labelled with the extreme price of the profile in which the single was created. That extreme price will be the high price of the profile if the single was made on the way down, and the low of the profile if single was made on the way up.
NOTE: Singles within the current/rightmost profile will be labeled with their actual price, and not the extreme price. The label will change to the extreme price once the next profile begins, as the extreme price is only relevant in future profiles.
ADDITIONAL NOTE: As of version 10.0, an option has been added to the Price Levels tab of the TPO Profile preferences window titled "Label Singles with Extreme Price of Profile". If this option is not checked, all singles will be labeled with their actual price.
Notice in the chart to the right, that singles were created on the way down in the N period. While there are technically 5 single prices, the highest single made on the way down is the key single. If singles are created on the way up, the lowest key single is the one with the lowest price. And since this single is made on the way down, it is labeled with the high price of the profile (which happens to be 779.00). It is believed that if price returns to 760.00 during a subsequent profile ("takes out" the single), then price will continue to the high (779.00) of the profile in which it was created.