OPEN-SOURCE SCRIPT
Market Profile with TPO by DaRealsVision25
Key Components of TPO Charts:
TPO Blocks: Each letter or symbol represents a specific time period during which the price traded at a particular level. For example, in a 30-minute timeframe, each TPO block might represent 30 minutes of trading at that price level.
Point of Control (POC): The price level where the most TPO blocks are concentrated, indicating the price at which the market spent the most time during the session. This level is often considered the fairest price.
Value Area: The range of prices where a significant portion of trading occurred, typically encompassing 70% of the total trading volume. This area helps identify the price range where the market found consensus.
Benefits of Using TPO Charts:
Market Structure Analysis: TPO charts help traders understand market structure by identifying areas of balance and imbalance, which can indicate potential support and resistance levels.
Trend Identification: By observing the distribution of TPO blocks, traders can identify trends and reversals, aiding in making informed trading decisions.
Enhanced Decision-Making: The visual representation of time spent at various price levels allows traders to assess market sentiment and potential price movements more effectively.
TPO Blocks: Each letter or symbol represents a specific time period during which the price traded at a particular level. For example, in a 30-minute timeframe, each TPO block might represent 30 minutes of trading at that price level.
Point of Control (POC): The price level where the most TPO blocks are concentrated, indicating the price at which the market spent the most time during the session. This level is often considered the fairest price.
Value Area: The range of prices where a significant portion of trading occurred, typically encompassing 70% of the total trading volume. This area helps identify the price range where the market found consensus.
Benefits of Using TPO Charts:
Market Structure Analysis: TPO charts help traders understand market structure by identifying areas of balance and imbalance, which can indicate potential support and resistance levels.
Trend Identification: By observing the distribution of TPO blocks, traders can identify trends and reversals, aiding in making informed trading decisions.
Enhanced Decision-Making: The visual representation of time spent at various price levels allows traders to assess market sentiment and potential price movements more effectively.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
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THIS IS NOT FINANCIAL ADVISE...
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