Support Board
Date/Time: Tue, 26 Nov 2024 00:37:28 +0000
Post From: Midpoint in TPO study
| [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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