PVP indicator

[T2020]

Just wondering if the author could comment it's usage . Should you consider
being long or short ,above or below this level ? etc . thx

[tastudios]

Hi,

There is a series of tutorials on market statistics (including PVP) over at Traders Lab: http://www.traderslaboratory.com/for...inks-4803.html

You will need a free account to view the page.

[enochbenjamin]

Can someone comment on the accuracy of the PVP indicator?

[enochbenjamin]

I have attached a chart and used arrows to point out the PVP inidcator (red lines) compared to the volume profile on the left of the screen. They do not appear to be consistent...unless I am missing something.

[fxspain]

I have attached a chart and used arrows to point out the PVP inidcator (red lines) compared to the volume profile on the left of the screen. They do not appear to be consistent...unless I am missing something.

Hi. I don't know what is that PVP indicator. If it's the one shared by "tastudios", which you can find searching this site, I think it's not accurate. I have been comparing it to another one that I use on MT4 and the values are different. I rely on the MT4 one because it's a VWAP indicator too and the VWAP and SDs values are identical to another VWAP indicator that I use on Ninja Trader.

I would like to find a reliable PVP indicator for Ninja Trader. Please, let me know if you find someone.

Thanks.

[enochbenjamin]

Here is another screenshot. Am I not understanding something???

[O66-nl]

pvp not correct

imo this pvp indicator isnt correct
see pic in last post the pvp (peak volume price or Volume point of control) isnt plotted at price where most volume is generated.

[cclsys]

My understanding is that this indicator is plotting the close of the bar with the maximum volume for any given session. It is interesting info, but not the PVP. Forgive me if this is incorrect. DeanV has just added in dynamic PVP to his dValueArea indicator. This one does it right and also works with historical charts which is very handy for reviewing methods using POC and VWAP etc.

[trader413]

Did anyone manage to develop the correct dynamic pvp ? I tried using the dvaluearea indicator for the pvp but there just too much going on on the chart and its difficult trying to see the pvp. so if anyone has this pvp and is willing to share it will be greatly appreciated.

[cclsys]

DValueArea has a 'correct' PVP but only depending how you define it. The code therein looks for a PVP and then ranks it compared to others, but also ranks the prices above and below it, i.e. rather than just one isolated price line it looks for a supportive cluster immediately above/below that PVP. Now this indicator waits for the close of the bar and then distributes an equal amount of volume or price (depending on which option you choose) across the range of the bar which closed. This is explained in the comments in the indicator code.

The GOM package keeps track of VaP (volume at price) live, tick by tick, as do some other indicators, and thus is more 'correct' because it does not average anything, but neither does it plot previous PVP's nor does it plot the current PVP as such except that you can easily see which price has had the most volume because that bar extends furthest to the right on the chart.

The issues mentioned above in terms of comparing the PVP to the volume profile: you cannot look at a PVP in the past and compare it to the volume profile which always shows the sum total of volume at price at the time the chart is being displayed, i.e. now, not when the PVP x hours ago was being plotted. That is why it seems 'incorrect'. At the time it was plotted, it was 'correct'.

DValue may not be the only one. In an accompanying pic it looks like CalculateValueArea now plots the PVP as well.

[trader413]

hey cclsysnn thanks for the reply, really appreciate it. I am not questioning the accuracy of DvalueArea pvp. I tried using it for the pvp but my charts got too crowded and its a bit difficult seeing the pvp and configuring it. I am question the accuracy of the pvp indicator found on here. its just not matching up. see pics below, the straight red line is the questionable pvp.

as pertaining to comparing the pvp with the volume profile.

I am aware that you cannot compare pvp in the past to a current volume profile in an attemp to varify its acuracy . instead, I compare the volume profile at a time in history to the pvp at that same time in history. I do this by choosing the visibledata only option in the pricevolumehistogram indicator found on here. this allows me to control the data that is being use to contruct the volume profile. therefore, if i wanted to test the acuracy of pvp at say 10am, I would then only allow the chart to show price only up to 10am. This will only allow data from session open up to 10am to be used in the contruction of the volume profile.

This I think should allow me to compare this indicator to what the pvp should be. so far its not macthing up. I am even getting a pvp reading in the low volume region.

What I am looking for is a stand alone pvp indicator that can also show historical pvp, or some way to filter out all the other stuff in the DvalueArea and mostly show me the pvp.

[cclsys]

trader, I am not sure I understand you, but one thing I did was just build a PVP-only indicator from the DValue real-time PVP by calling it in the new indicator (a little tricky but can be done). Or of course simply make a new version of Dvalue and have everything else in it except dynamic PVP defaulted to transparent.

I can't share this indicator because have since made changes and it no longer works.

[PandaTrader]

Hi everybody. I have been trying to use various of the Volume Profile and Market Profile indicators. They all look great but I'm confused. I'm more interested in Volume Profile and PVP, not POC. There is a difference. People are using it here in the forum for the same thing, but they are not. Volume Profile is not bound to price and that is what I need. Especially current session PVP is important for my trading with VWAPs. My problem is which indicator would you recommend, DValue?, CalculateValueArea?, MPValues? etc. I have been playing around with DValue and chose VTPO which I believe is Volume profile, so no time association. Additionally I added the hVWAp indicator. Now what confuses me is when I change the 30 min chart to 2 min chart that the PVP and also VWAP changes, even when I select calculate indicator on bar close: false.
I thought VWAP should be the same for any timeframe, I'm really confused and stopped trading because so many intervals are off. Also that the PVP (for Volume Profile) jumps up and down when I change interval from 1 to 30 min is making me crazy, because I just don't understand why.Even like I said that everything is calculated tick by tick since I turned off calculate indicator on bar close.

I use Zenfire with NT.

If anybody could give me an explanation and suggestion how to work this accurately so I can't trade of these indicators that would be great. Like I said today I feel like tossing my quad core out of the 2nd floor and putting it on fire.

Thanks.