Support Board
Date/Time: Tue, 26 Nov 2024 19:42:56 +0000
Plot multiple developing VPOC/VAH/VAL values for different periods below region 1
View Count: 714
| [2023-11-01 17:51:46] |
| EverEdge - Posts: 15 |
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Hello, I'm trying to plot developing POC, VPOC, value area high/low, and volume value area high/low as running values (like a line on close chart). Think of it as an indicator, in region 2 or below, i.e. below the main price chart, so it's legible and not too crowded. The idea is to plot, say, 3 instances of those values. For example, one plots the current values, one plots the values from yesterday / last session, and one plots the 5-day values. I followed the instructions for "calculating and displaying developing point of control, value ara high/low, VWAP" found here: Volume By Price Study: Calculating and Displaying Developing Point of Control, Value Area High/Low, Volume Weighted Average Price Lines It appears this can be done with the VbP study with the specific settings given. The current session version would be trivial (if I can solve the problem of having VbP appear below region 1, see below), last session could probably be accomplished by having another instance of VbP and changing the "number of periods back to reference" setting from 0 to 1. And we could probably get the 5-day VPOC/VAH/VAL plotted (not 5-day lookback) with a third instance of VbP where "time period length for fixed time" is changed from 1 to 5 (as long as "time period type for fixed time" is set to "days"), though I'm not sure what to set the "volume graph period type" to in order to draw the 5-day average lines on a continuous line graph basis, i.e. have the line move intraday if the 5-day VPOC value changes intraday. So assuming I'm correct on the 0 and 1 day versions and there is an answer to how to plot the 5-day values continuously and this is supported, this still leaves me with 2 issues: 1. To get at the TPO POC/VAH/VAL (as opposed to the volume versions), I'd have to use the TPO study, but that does not have the settings in VbP referenced at the above URL. Is there any way to do this with the TPO values? 2. Even if I only try to plot a single VbP (for current developing VPOC/VAH/VAL), the software insists on placing the VbP in region 1 and superimpose the lines on the price chart. When I select region 2 or below and hit apply, it reverts back to region 1. Tried any number of setting changes in VbP with no success. Thank you! |
| [2023-11-01 19:24:32] |
| John - SC Support - Posts: 36302 |
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Answering in reverse: 2. You can not place a Volume by Price study in a region other than Region 1. You can use the "Study/Price Overlay" to get the lines into a different region. But it will just be the line items (POC, VAH, VAL, and VWAP) that can be "overlaid", not the profile itself. 1. It may be easier for you to use the "Volume Value Area Lines" study and the "TPO Value Area Lines" study rather than trying to do this with the main studies (VbP and TPO). Refer to the following: Volume Value Area Lines TPO Value Area Lines For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2023-11-01 20:23:38] |
| EverEdge - Posts: 15 |
|
Thank you for the quick response. That had occurred to me as well, and I implemented it after hearing from you. It's a good workaround for getting those values in region 2 and also solves plotting RTH values on a full session chart. But as I suspected, it does not appear to solve the main issue of plotting the _developing_ POC/VPOC/VAH/VAL (which is why I hadn't attempted it originally). Attached is an image that shows the TPO value area lines study and 2x volume value area lines studies (one for the current session, one for the previous session where the 'reference n periods back' is set to 1). The screenshot shows all 3 studies in region 2, and I color-coded them and called out the labels so you can tell which is which on the price axis. As you can see: 1. Minor issue: if we use this method, I don't know how to call the n-day VPOC/VAH/VAL where n is not the lookback but the total, i.e. we're looking for a 5-day VPOC, not VPOC from 5 days ago. 2. Major issue: it only plots a single line for the session. This 'indicator' only makes sense if it were to show the value migration intraday, divergence between price and value, today's value tagging yesterday's and rejecting and so on. For that, we'd need continuous lines that change value intraday (with then a 'jump' to next day's open due to the overnight session). For example, you could see how today's VPOC may have dipped below yesterday's ending VPOC twice but was bought both times, or that today's VPOC tagged yesterday's lowest VPOC. Same with value area lines. If there is no way to do this currently, please consider it a feature request. The theoretical basis for being able to view the data this way is very strong, and plotting all that on region 1 would be way too cluttered. Thank you. |
 2023-11-01_12h56_34.png / V - Attached On 2023-11-01 20:16:10 UTC - Size: 102.08 KB - 104 views |
| [2023-11-01 20:30:35] |
| John - SC Support - Posts: 36302 |
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1. The Value Area Lines studies have Inputs for "Time Period Type" and "Time Period Length", so if you want a 5 day POC/VAH/VAL you would set the following: - Time Period Type: Days - Time Period Length: 5 2. Set the Input for "Draw Developing Value Area Lines" to "Yes". For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
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