The Order Flow Volume Profile indicator wasn't demonstrated in the webinar as it will be in a future release, and I wanted to make some suggestions in this area. My sincere hope is that this tool will develop to be a full market profile-style chart (i.e. Volume Profile + TPO Profile chart)
Suggestions:
(1) For the Volume Profile indicator, please include the following:
- Allow user to define start and end times of session, or to switch to session template times
- Show the Volume Value Area on the chart (user definable, usually 68% or 70%).
- Allow volume outside the Value Area to be presented in a different colour from volume inside the Value Area
- Show lines for Volume Value Area Low (VVAL), Volume Value Area High (VVAH), Volume Point of Control (VPOC). NB. this relates to yesterdays Volume Value Area
- Show lines for developing Volume Value Area Low (dVVAL), developing Volume Value Area High (dVVAH), developing Volume Point of Control (dVPOC). NB. this relates to todays developing Volume Value Area
- Automatically draw High Volume Nodes (HVNs) and Low Volume Nodes (LVNs) as lines emerging from the volume profile. Allow the user to turn off/on this function.
(2) Develop a TPO Profile indicator based on the same structure as the above Volume Profile Indicator. Allow the above chart to be switchable from showing Volume to presenting TPO (Time Price Opportunity)
- Instead of a volume profile in (1),allow this chart to print TPO letters. Allow user to define TPO length (e.g. 30 minutes)
- Allow user to define start and end times of session, or to switch to session template times
- Show the TPO Value Area on the chart (user definable, usually 68% or 70%).
- Allow TPO letters outside the Value Area to be presented in a different colour from TPOs inside the Value Area
- Allow user to set opening range length TPO and present this in a different colour from other TPOs
- Automatically generate horizontal lines on the chart at the point where there is only a single TPO letter generated during the day (these are known as Singles or Single Prints)
- Allow user to define Initial Balance (IB) length (e.g. 60 minutes)
- Automatically draw horizontal lines to represent IB, IBx1.5, IBx2, IBx3
- Show lines for TPO Value Area Low (VAL), TPO Value Area High (VAH), TPO Point of Control (POC). NB. this relates to yesterdays TPO Value Area
- Show lines for developing TPO Value Area Low (dVAL), developing TPO Value Area High (dVAH), developing TPO Point of Control (dVPOC). NB. this relates to todays developing TPO Value Area
I do hope that you will be able to implement this request in the near future, as NT8 will then become a complete order flow tool. Please contact me if you need any further information or examples of what I am referring to in the description above.
Thanks!
Comment