ammo that was good Volume Profile chart (ref. http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:volume_by_price) one observation from my side: for CL I feel 5 day window gives good projection of TOMORROW price histogram than last 10/15 days , reason being once the CRUDE OIL sentiment moves 10/15 ago price action may not contribute much to PROJECTED tomorrow price action ( where as last 5 days price action does ). for those interested in further study , here is a link from web .. http://readtheprospectus.wordpress.com/2010/02/28/volume-profile-goes-native-to-think-or-swim/ Nice Profile charts form TD , with customization on - Price Per Row Mode: Choose how it calculates how wide the volume âbinâ is. - Time Per Profile: - # of Profiles: - On Expansion: two âVolume Profileâ studies. One is set to âChartâ and âOn Expansion=yesâ, so it is an overall summary of all the volume on the chart. added one set to âTwo Daysâ and âOn Expansion=noâ. This results in multiple two-day volume distributions plotted on top of price. <b>Above Chart is for 2/26/10 EOD that is Friday and Expansion showed Volume Profile for future next day that is coming Monday </b>
IV, thanks for the TOS post. do you happen to know what the difference is between volume profile and tpo profile on TOS? TIA.
Volume profile as shown on above chart is simple that is 'Volume plotted on PRICE scale instead of usual TIME scale ' as histogram . TPO profile is much complex subject , here is a link I found on web may help you ( not TD/ThinkorSwim ) http://www.sierrachart.com/index.php?l=doc/doc_TPOVolProfileCharts.html I do not use TD/ThinkorSwim charting . but simple Volume Profile you can do with many Charting software
Interesting chart for TOS chart users Volume Profile â User Defined Period: http://www.thinkscripter.com/indicator/volume-profile-user-defined-period/