Support Board
Date/Time: Mon, 25 Nov 2024 22:32:14 +0000
Midpoint in TPO study
View Count: 5867
| [2013-08-27 22:47:07] |
| Allan Stevenson - Posts: 9 |
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I'm using the midpoint option in the TPO chart, but it doesn't appear to be marking the actual midpoint. See attached. Any ideas? Thanks |
 27-08-2013 23-44-45 midpoints.png / V - Attached On 2013-08-27 22:47:03 UTC - Size: 165.54 KB - 666 views |
| [2013-08-28 00:37:17] |
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Have you referred to the documentation for this?: http://www.sierrachart.com/index.php?l=doc/doc_TPOVolProfileCharts.html#ReadingTPOCharts Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2013-10-28 03:29:16] |
| Profile Trader - Posts: 174 |
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The common reference for midpoint in a MP strategy is half way from the high and the low of the price action. Often times this can be referenced two ways within the complete session of the profile and within each 30 min session. Sierra Charts has programmed there midpoint to be a representation of a TPO count and not the midpoint or half way back from price action. I am not aware of anyone that uses this or teaches this. Would someone from Sierra review this and determine the initial intent of this function/feature of the profile. My guess since the major teachers of this style ie Jim D., Linda R., Pete S., Richard W. etc use it in the manor I described it might have been overlooked in the design process. Thanks for your time and consideration. Doug |
| [2013-10-28 12:31:56] |
| abrown8703 - Posts: 64 |
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Doug, if you are interested in trading along side traders that trade the "Ambush" or Half way back strategy, check out www.eminiaddict.com To your continued Trading success! |
| [2013-10-29 06:57:57] |
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The programmer who originally did the midpoint calculation for the TPO Profile chart in Sierra Chart, is no longer with us. We do not know what the basis of it was. We had a look now at the Market Profile handbook from the CME and we see the midpoint is just the middle of the price range. So we will program it to work that way. This will be out in the next release coming out later today. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2013-10-29 11:46:40] |
| User16114 - Posts: 153 |
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in the meantime you can use the price retracement tool showing only the 50% level - my preference is to use a vertical line from high to low, with only the 50% level selected, just to the left of the current TPO profile
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| [2013-10-29 12:02:32] |
| User16114 - Posts: 153 |
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pic attached (I think), if this doesn't work will figure out how to attach later
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| halfback.PNG / V - Attached On 2013-10-29 12:00:38 UTC - Size: 12.65 KB - 641 views |
| [2013-10-29 14:21:48] |
| Profile Trader - Posts: 174 |
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Thank you Sierra Chart Engineering I greatly appreciate you taking the time to look into this and review the MP handbook. I think many others will benefit from this change. In future releases would it be possible to have this feature broken out as midpoint for the complete session and for each 30 min session? Also would it be possible to have the ability to use other styles of distinctions for this? like instead of color notation maybe a slash or line through the letter. using different ways other then color enhances the ability to visually read the chart fast and not have to focus and process the information. Again, thanks for your time and interest in continually improving the software. Doug |
| [2013-10-30 05:52:02] |
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This will have to be looked at later on.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2013-10-30 17:34:58] |
| Profile Trader - Posts: 174 |
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Not to overload you but a few more things we could add too the wish list are. 1. Have both the split out profile and the complete profile side by side as they develop. 2. Have two columns of volume beside the price traded showing the total volume at that price and the second showing the volume traded at that price during that 30 min session. I have attached a screen shot of what I am talking about. Thanks for your consideration Doug Date Time Of Last Edit: 2013-10-30 17:38:09
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| Profile Wish List.png / V - Attached On 2013-10-30 17:37:49 UTC - Size: 583.78 KB - 1436 views |
| [2013-10-30 18:00:35] |
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We are definitely at this point very overloaded. 1. It is unlikely to ever come. This is just to involved. Splitting and merging is already highly complex. 2. We recommend using a standard bar chart for this and adding the necessary Volume by Price studies to accomplish this. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2013-10-30 18:17:07
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| [2013-10-31 12:31:11] |
| User16114 - Posts: 153 |
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with respect to the original support request from Allan Stevenson, I have started using the "Auto Retracement/Projection" study (cyan line on attached "auto retrace 3" png) with the settings attached to automate halfback. is there a better way out there? |
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| [2013-10-31 17:37:04] |
| Profile Trader - Posts: 174 |
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User16114, SC has made a change in the programming of the midpoint function in the TPO Profile. It now represents the actual 50% line of the current session price action. I guess is all depends on how you want it represented on the chart. Thanks, Doug |
| [2013-10-31 22:01:48] |
| User16114 - Posts: 153 |
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thanks Doug! I'd like to plot the midpoint between the session high and low price level. ie: assume the high is 100 and low is 50, therefore the midpoint would be 75. is this what the TPO Profile Chart "Highlight Midpoint In Profile" study is supposed to do? when I activate this option it is not showing the midpoint between the session high and low. |
| [2013-10-31 22:16:13] |
| Profile Trader - Posts: 174 |
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The first thing you want to check is if you are on Build 1040. You can do that by going to help drop down menu and then about. If you do not have build 1040 you will need to hit download current version about halfway up from about. Second thing you will want to check is your study settings. Once in study settings go to Subgraphs tab and check what color you have set for this. If it is the same color as you have your blocks or letters then you will not see it. Your midpoint indication will only show up on your first session set. Hope that helps. I have posted a question on MP session issues earlier and it has some screen shots in it. You will see that on my profile the light blue is the midpoint. Doug |
| [2013-10-31 22:44:18] |
| User16114 - Posts: 153 |
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I was using 1032. How do we know when there is a new version. I missed that. Now using 1040. The midpoint is correct and rounded to the nearest tick. Your second paragraph all makes sense as I have spent a lot of time exploring the software and reading the support documentation which, as you know, is very good. Thanks again Doug! |
| [2013-11-08 15:24:34] |
| Profile Trader - Posts: 174 |
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Sierra Chart Engineering, would you consider the ability to just have the previous days overnight profile and not the all overnight profiles or no overnight profiles. So you can review the morning price action in relationship to the current overnight profile? Thanks, Doug |
| [2013-11-14 20:40:38] |
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In response to post 17, it is difficult to have an inconsistent display of the profiles based upon particular days in the chart. They all will be consistent for the time periods displayed.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2014-03-12 17:58:20] |
| User55237 - Posts: 8 |
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I just noticed the calculation for TPO midpoint on TPO charts is totally not the TPO midpoint. By definition, it is the level where the number of TPOs above are equal to the number of TPOs below. The statistical calculation for this is the Median or Middle of the distribution. If you are using a 30 minute tpo chart for the S&P500 with a tick size of .25, you would sum the number of observations for each tick level between the highs and lows for each bracket. If the total number of TPO observations is 160, the tpo midpoint would be the price level where you have as close to 80 cumulative observations above as you have below. I would really appreciate it if your developers could update this calculation. If you need assistance, feel free to contact me and I will help you. thanks.
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| [2014-03-12 18:19:05] |
| Profile Trader - Posts: 174 |
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Mine is perfectly correct and has been since SC made a change. What Version are you using.
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| [2014-03-12 18:25:00] |
| User55237 - Posts: 8 |
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1087
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| [2014-03-12 18:26:07] |
| User55237 - Posts: 8 |
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The value my version is posting is the mid-range of the day.
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| [2014-03-12 18:26:31] |
| User16114 - Posts: 153 |
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Hi User55237, if you are referring to "Highlight Midpoint In Profile" in TPO Chart Study Settings the result is simply the midpoint between the price high and low in the profile. This is also known as "Half Back," which is a term used by jdaltontrading.com and others. I find it very useful as is.
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| [2014-03-12 18:34:50] |
| Profile Trader - Posts: 174 |
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55237 the version I am running is 1102 but I don't think that will matter. I'm not sure exactly what you are looking for... If you are looking for the midpoint of each 30 min auction then SC does not offer that. If you are looking for the Midpoint of the days range as per Pete's handbook from the CME then that is as User 16114 has advised. Hope that helps.. |
| [2014-03-12 18:39:39] |
| User55237 - Posts: 8 |
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Downloaded current version and getting the same incorrect values.
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