Drawing tools on TPO charts

Login or Register

Please login or register in order to view and post in the Forum.

2 posts / 0 new
Last post
Wed, 03/13/2024 - 10:45
#1
Trader_SA
Last seen: 3 weeks 6 days ago
Joined: 08/31/2021 - 07:35
Drawing tools on TPO charts

Hi IRT team,

I would like to enquire about drawing tools on the TPO charts. I would like to create micro composites by combining TPOs and then draw an extendable rectangle in the value area from that TPO until a future point in time. I would like to not have the VA for every TPO but only for the ones I believe have real value (Bell curve). Currently the only way is using reference lines but I would like the option to draw on these charts as it would be alot quicker

0
Top
Thu, 03/14/2024 - 18:03
Eddy_F
Last seen: 2 months 3 weeks ago
Joined: 07/30/2014 - 16:18
How to best manage microcomposite TPO profiles

Hi Trader_SA,

IRT "traditional" TPO charts (as reviewed in the link herebelow) won't necessarily offer all the flexibility you are looking for.

https://www.linnsoft.com/tpo

But everything you mentioned (and even more) can be achieved when displaying TPO profiles on a "multipane" charts thanks to a combination of

  • the Profile indicator used in its "Price and Time" configuration
  • The Colors Indicator to possibly display blocks and/or letter on these TPOs
  • The Boundaries indicator to merge/unmerge (at will) any TPO so that you can create any kind of microcomposite TPOs sequence (with the desired shape)

Even better, you have

a) the option to display only the most relevant micro-composite (with the best "balanced" shape) and to ignore (i.e. hide) other "transition" profiles of lesser interest

b) automatically extend the naked "value area band" of those relevant microcomposites (ie without the need to use any "manually" controlled drawing tools)

Here are the directions to follow :

The basics about emulating TPO profile on a standard multipane chart are discussed here : 

https://www.linnsoft.com/tips/emulating-market-profile-multi-pane-charts-3

More about the Colors indicator here : 

https://www.linnsoft.com/techind/colors-rtx

This chart shows a TPO profile (on the left) and volume profile (on the right), and uses the Boundaries indicator to allow easy merging or splitting.

https://www.linnsoft.com/charts/cp-ap-dailytpovolprofiles-es

Check the attached video to see how the boundaries indicator works.

To also get an automated drawing of the value area band, you would have to check this previous post demonstrating how to use the Bands indicator to extend naked value areas

https://www.linnsoft.com/topic/full-value-area-boxed-highlighting

(you would need to adjust the PROF settings used in both CI_VAH and CI_VAL custom indicators to match the settings of the Boundaries based profile..)

Let me know if such a solution responds to your needs

Eddy

 

 

 

 

 

 

Top