TPO
Posted: Aug 15 2012
Hi all. My task is to make so-called TPO (Time Price Opportunity) indicator for new MC .NET platform. I will share the result with you. Your comments and suggestions are welcome.
MultiCharts
https://www.multicharts.com/discussion/
https://www.multicharts.com/discussion/viewtopic.php?t=10778
If you are interested in the implementation details, then:can you explain a little bit what you did to make this?
About 2 days total.How long did it take to create?
Holy crap!!!Hi all. My task is to make so-called TPO (Time Price Opportunity) indicator for new MC .NET platform. I will share the result with you. Your comments and suggestions are welcome.
P.S. For instrument use 'Exchange' timezone. For 'Local' it doesn't work.
This is option. Try press 'Mirrored' button on the chart toolbar.First, try to move the volume to the front of the TPO, not the back. In the back we tend to look at it as belonging to the previous period.
The symbol's resolution on the chart has no effect ... almost .Second, I cannot understand your 30 minute reading. It's reading every 30 minute bracket?
This is just visualization. I draw profile at last bar of session but SC draws profile at first bar of session as I can see. If SC is the standard for TPO, I have to correct the algorithm.So for today, using ES 5 minute chart 24h I'm getting this ...
I see that your left TPO is identical to yesterdays profile and the right one identical to today's. So I ask, why is yesterday profile inside today's trading region? Each profile needs to be locked inside its own region otherwise create to much confusion to the eye when you have the session breaks visible.
Agree. But MC's Chart don't know about "my pictures" And there are no ways to increase barspacing from script yetAlso, everytime you zoom out the chart the profiles get on top of each other.
TPO's need to resize themselves automatically when the chart is zooming out.
Can you create a chart with same symbol but with tick-based resolution, for example 300 seconds? TPO is built from ticks. Probably there are ticks that do not correspond to minutes. I've checked your test-case. TPO was built properly.This indicator works well on ES, but it does not seem to work correctly on currency futures (such as 6E).
Thanks Dru. The bug fix resolved the issue. Now I can view the TPO, for currency futures correctly.P.S. I found a bug in visualization of TPO. Fix is attached.
MultiCharts .Net Power Language Editor->File->Import.hello,
is someone can tell me how to insert the TPO.pln in MC, please
Thanks
Thierry
Fixed.First what seems to be a bug.
Everytime we change the chart resolution the study toolbar disappears.
Done.Regarding the initial balance vertical line
It has been fixed and now works according to this algorithm.POC is not being correctly calculated, at least for the first 30min period of the day.See the difference between SC and MC.
It is coded this way. I was too lazyHere is a video showing the study working live.
Why does it not update realtime? Is it coded this way or is there a bug in there?
http://www.screencast.com/t/RniwPSUftvNo
Have you fixed it?It is coded this way. I was too lazyHere is a video showing the study working live.
Why does it not update realtime? Is it coded this way or is there a bug in there?
http://www.screencast.com/t/RniwPSUftvNo
you need to adjust the text size and the price scale manuallyIs this how it should look ?
i cant read letters or numbers
thanks
shane
Manually ?
How do you change those manually ?
I like how yours look !
shane
NoHave you fixed it?
No. This is not MC issue.Maybe it's a MC issue and not a coding issue.
I'll speak with them about thisMaybe MC management can hire you to code a complete market profile tool with all its main options
Test it please.Can you make a small change, making the study to start each period at even 30 min time blocks?
Did you see the video I made? showing how to expand the price scale?I still cannot get it to where I can read any numbers or letters.
I cannot use it.
if you can, make a video showing what are you doing.yes I did see it, but it did not affect my chart the same way.
yours looks great by the way !
Probably you reload only minute data. But profile builds from tick data. Try reload tick data.Why don't I have profiles for those 2 bars?
I download and reload the data and nothing, still no profiles.
Could you attach the wsp with session template problem?Finaly I found what the problem is regarding the overnight profiles.
Is seems the code get confused by overnight sessions not starting at 5pm CT when the session template starts the session.
This feature has been implemented for "Squares" only.When we choose to highlight the open price we cannot see it on the chart
This is study restriction. Last changes of settings overrides previous one.Here's another thing I've noticed. Don't know if this is a MC restriction or a study restriction. It seems some settings are not being saved on exit.
Attached.Could you attach the wsp with session template problem?
Can you add it to "Alphas" also?This feature has been implemented for "Squares" only.
At least the colors should be allowed to be saved. It's a bit of a pain having to change the colors every time we open the workspace.This is study restriction. Last changes of settings overrides previous one.
Input "TicksRoundUp" was added.It would be welcomed an input to set how many ticks to build the profiles."
Input "UnderlyingResolution" was added.I assume the study uses tick data because of the volume profile option that it has.
Is it possible to have a TPO study, without the volume profile option, where minute data could be used? It takes ages to load 30 days of data and while loading the data, it can consume 1.5gb of memory.
Settings are saved in the workspace.At least the colors should be allowed to be saved. It's a bit of a pain having to change the colors every time we open the workspace.
Hi. There is new version of TPO study.
Implemented features:
1)Input "TicksRoundUp" was added.It would be welcomed an input to set how many ticks to build the profiles."
2)Input "UnderlyingResolution" was added.I assume the study uses tick data because of the volume profile option that it has.
Is it possible to have a TPO study, without the volume profile option, where minute data could be used? It takes ages to load 30 days of data and while loading the data, it can consume 1.5gb of memory.
3)Settings are saved in the workspace.At least the colors should be allowed to be saved. It's a bit of a pain having to change the colors every time we open the workspace.
Hi,
Thanks for implementation of this indicator. Could you add 15 for "TPO step in minutes" parameter selection? Thanks.
PPC
add on but found some strange things
1. the TPO display strange characters not alphas (currently use Arial narrow font)
2. "Draw volume" shows more than 10 decimal places
Please advise how to fix it. Thanks.
add on but found some strange things
1. the TPO display strange characters not alphas (currently use Arial narrow font)
2. "Draw volume" shows more than 10 decimal places
Please advise how to fix it. Thanks.
Could you attach smaller images? geez...
Why are you using the volume profile from the TPO study when you can use MC's built in solution which is far better? It can give numbers. I don't know built in solution can provide it or not. Please advise.
Personally I would remove the volume option completely from the TPO study since, as you just saw, does a very poor job.
Regarding the TPO letters, that is indeed a strange thing.
What is your datafeed and the symbol you're applying the study? IB & HSIX14
Are you loading the TPO's based on tick or minute data? minute
Which the version of MC you're using? MC for TWS (IB)
Change the font to Microsoft Sans Serif or Consolas and see if that continues to happen. change to other fonts but remains the same
Also, for market profiles we need to use monospaced (fixed width) fonts.
Hi all. My task is to make so-called TPO (Time Price Opportunity) indicator for new MC .NET platform. I will share the result with you. Your comments and suggestions are welcome.
There is no way to have a similar TPO study in PowerLanguage due to the limitations of this language. If you like the TPO that is available for MultiCharts .NET then I would recommend to continue using it.Hi Dru,
I have tried MCTPO ver 2.0 in MC but cannot produce result generated by this indicator in MC .NET version. Also, MC draws a lot of resources in generation of market profile while MC .NET is very handy. Actually I like TPO for MC .net much. Do you have this one for MC? Thanks.
Thank you Dru and MultiCharts for the excellent work which has been done to develop the TPO indicator from August 2012 onwards.
It is largely due to the success of this work that I decided to change my trading platform to MC.NET64, having tried to build a similar indicator myself on another trading platform (32 bit) before running into difficulties, due to the fact that the scripting language available was not powerful enough for the task. Clearly there are some studies which need to be scripted in C# and the TPO indicator is one such study.
Any person who has ever taken the time to study Market Profile theory will perhaps understand how potentially useful a TPO indicator can be, especially when superimposed on a Volume Profile study, which permits the trader to look back over long periods of time to see how the volume was distributed (see attached image).
In addition the MC TPO study shows the volume distribution on the first bar of the session (although unfortunately not on each bar of the session!), so the trader can see where the unfair price areas or extremes are forming relative to the longer- term, volume distribution on Volume Profile.
Any person interested in using this type of indicator for trading might benefit from studying Parts 1 and 2 of “A six-part study guide to Market Profile” which can be downloaded in PDF format from this link:
http://www.cmegroup.com/education/inter ... ndbook.pdf
However I believe that the TPO study should have its own Format TPO>Settings>Data Range which may be set independently from the Format Instrument>Settings>Data Range, so I have
submitted a feature request to MC PM (MC-1833) which can be found under the backlog section of the Project Management page.
If you are interested in using this indicator for trading, then please study the feature request and vote for the issue.
Thank you Dru and MultiCharts for the excellent work which has been done to develop the TPO indicator from August 2012 onwards.
It is largely due to the success of this work that I decided to change my trading platform to MC.NET64, having tried to build a similar indicator myself on another trading platform (32 bit) before running into difficulties, due to the fact that the scripting language available was not powerful enough for the task. Clearly there are some studies which need to be scripted in C# and the TPO indicator is one such study.
Any person who has ever taken the time to study Market Profile theory will perhaps understand how potentially useful a TPO indicator can be, especially when superimposed on a Volume Profile study, which permits the trader to look back over long periods of time to see how the volume was distributed (see attached image).
In addition the MC TPO study shows the volume distribution on the first bar of the session (although unfortunately not on each bar of the session!), so the trader can see where the unfair price areas or extremes are forming relative to the longer- term, volume distribution on Volume Profile.
Any person interested in using this type of indicator for trading might benefit from studying Parts 1 and 2 of “A six-part study guide to Market Profile” which can be downloaded in PDF format from this link:
http://www.cmegroup.com/education/inter ... ndbook.pdf
However I believe that the TPO study should have its own Format TPO>Settings>Data Range which may be set independently from the Format Instrument>Settings>Data Range, so I have
submitted a feature request to MC PM (MC-1833) which can be found under the backlog section of the Project Management page.
If you are interested in using this indicator for trading, then please study the feature request and vote for the issue.
Why are you using the VP option in the TPO study?
MC has built in a VP tool which is a lot easier to work with, loading a lot faster than the VP option of the TPO study. Personally I would remove the VP option from the TPO study.
What we need is a TPO built in tool with all market profile options which has been requested here:
https://www.multicharts.com/pm/viewissu ... no=MC-1307.
Although Dru's study is an awesome piece of work and I just can't live without it, it has many limitations if one wants to really take advantage of market profile reading.
If I understood your request you can achieve what you want by using another data series and "play" with the settings...
This is the .NET TPO version, not the PL version.Would you please advise how to configure the inputs in TPO indicator like ResNum, Precision.. etc in MC 64 in order to show the market profile graph as shown? I have no idea about the meaning of those parameters. Thanks.
Yes, it's a known issue.I have been using this for a while, and I like it. A good basic TPO with volume and extensions for VAH and VAL. Thanks for this.
I would like to mention an ongoing issue though, often when I start MC the workspace with TPO chart wont load the TPO, and I get an error message. I have to delete the study then place it back into the chart then reset all my coulours and check volume etc, as if I never had it in the 1st place. It's not that bad really but it does this about 40-50% of the time, just an annoyance more than anything.
Does anyone else have this issue? It has done this with all of the MC updates/revisions for the last 6-8 months, not limited to 1 version.
- J