TPO Indicator (TPO)

TPO Indicator requires the Profile Package.

The TPO Indicator computes and displays historical values for TPO Profile price levels: POC, Value Area High (VAH), Value Area Low (VAH), developing POC, VAH, and VAL. It enables review these values historically to see see how price reacted when approaching these levels. While developing POC, VAH, and VAL change throughout the day, traditional TPO Profile charts only show the current values. The TPO Indicator allows the user to look back and see where the levels were at any given historical time. TPO is an acronym for Time/Price Opportunity.

The RTL token for this indicator is TPO. When used in the language, in addition to the VA & POCs mentioned above, the TPO indicator provides the user access to IB High and Low, 2x and 3x IB Highs and Lows, TPO counts, TPO counts above and below the POC (both with and without singles). These are very powerful tools for users interested in backtesting TPO Profile related strategies, or charting MP related data on traditional charts.  To look for price being within 0.50 of the developing VAH, use the RTL formula:

CL >= TPO - 0.50 AND CL <= TPO + 0.50

where the TPO indicator is set as follows:

tpoPrefsScan

Presentation

tpoChart

Above is a Daily Chart of the S&P E-mini Futures Contract (ES #F, eSignal). The two-colored line in the lower pane represents the 20 period Relative Slope.

Formula

tpoPrefs

  • Tick Increment -Distance between consecutively traded prices for any given instrument (eg. 0.25 for ES, 0.01 for most stocks)
  • First Letter Time -Number of minutes used for the first letter (period) from a TPO Profile persective. This is most commonly 30 minutes, but can be set to 10 minutes for symbols like ZB whose session begins at 8:20am EST.
  • Current - Previous -These checkboxes control whether lines will be drawn for the current (developing) and previous day's POC & VAs.
  • Color Controls -These color controls allow the user to specify the color and style (solid, dotted, etc) of each of the 4 lines: Current POC, Current VAs, Previous POCs, Previous VAs.
No examples. Let us know if you'd like to see one added.
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