Grantx 

TPO can give you a lot of useful information but you must give it time to accumulate and establish itself. A day is just not long enough imo and besides, when your chart has more than 3 or 4 profiles it starts getting confusing because the usefulness of the data gets degraded highs/lows/POC/VAH/VAL/HOD/LOD etc… The more profiles you look at the more everything starts conflicting. Load up 3 separate charts, daily, weekly and monthly and see which one is more usable for your purposes. I think you want to be working with a profile that has already established and not one that is still in construction because what's the point of it then? Good luck with it though. Its a great tool.

Just to play devil's advocate somewhat; and not to argue..... wouldnt a profile still under construction offer more opportunities than one that WAS more established? As completion of the 'structure' in a profile chart is often inversely correlated with opportunities; as once it is in plain view for all to see...if we base trades on that, would most likely be late entering/exiting.

But then again, I suppose it is all about the particular timeframe you are looking at and TPs and such. Either way, good stuff and very much appreciate all the input

I can help with that....drop me a PM..

Cheers..
JD

TATrader20 

Greetings traders; am new to this site and what a fantastic wealth of information this is! Good stuff! Hopefully i can bring something of value to conversations on here as we go along. My question today is regarding TPO charts for CL/crude oil. I have always been more of an ES trader, but i find that these days; i just may not have the stomach to daytrade those contracts anymore. Anywho..I use TPO charts and wondering if anyone has any input as to the 'session' times i should use. for ES my 'main session' is 9:30-16:00 EST and everything else as my 'overnight' (using Sierra) Wondering how i should construct my oil tpo chart settings. wonder if the same 9:30-16:00? or perhaps maybe 8:00-14:30 daily settlement? Or if just using one session for all day.... what time would YOU start your chart? 8:00? 9:30? 18:00? some other time? Thanks in advance!

TATrader20 

Just to play devil's advocate somewhat; and not to argue..... wouldnt a profile still under construction offer more opportunities than one that WAS more established? As completion of the 'structure' in a profile chart is often inversely correlated with opportunities; as once it is in plain view for all to see...if we base trades on that, would most likely be late entering/exiting. But then again, I suppose it is all about the particular timeframe you are looking at and TPs and such. Either way, good stuff and very much appreciate all the input

I disagree. A better developed profile directly correlates to opportunity. Sounds like you're looking into profiles to provide trade signals. Don't give profiles any responsibility beyond being information providers, they will walk all over you.

Think of a criminal profiler. One crime scene provides information to compile a profile. Two or more crime scenes will provide a much more comprehensive picture of the perpetrator. The more information they have to work with the better. Same with TPO. Then again I suppose its how you intend using the information. I mark areas of potential reversal and then wait for signals on the candle chart in the form of price action and volume.


@JDNeeman why PM? Why not share what you have to say here on the forum so that we can all learn something?

@Grantx

Hello, I undeerstood no interest in TPO or market profile trading besides the guy who started it...anyways,,,, my whole trading system is based on Market profile....

I use a combination of MP, VP and Order Flow... we all have a very different approach on MP

About the times....I use the following...




We could start a chat a out MP--- I know there are several around the forum

JD

Grantx 

I disagree. A better developed profile directly correlates to opportunity. Sounds like you're looking into profiles to provide trade signals. Don't give profiles any responsibility beyond being information providers, they will walk all over you. Think of a criminal profiler. One crime scene provides information to compile a profile. Two or more crime scenes will provide a much more comprehensive picture of the perpetrator. The more information they have to work with the better. Same with TPO. Then again I suppose its how you intend using the information. I mark areas of potential reversal and then wait for signals on the candle chart in the form of price action and volume. @JDNeeman why PM? Why not share what you have to say here on the forum so that we can all learn something?

@JDNeeman
I will take a look through your journal and see how you go about things. Might have a few questions, Im always keen to learn from experienced traders.

@Grantx

I Dont have a journal of MP. ... I has been my trading system for a while...I have posted ather methods I tried...but never MP.... but i could create one if there is interest,

Let us know..

JDN

Grantx 

@JDNeeman I will take a look through your journal and see how you go about things. Might have a few questions, Im always keen to learn from experienced traders.

JDNeeman 

@Grantx I Dont have a journal of MP. ... I has been my trading system for a while...I have posted ather methods I tried...but never MP.... but i could create one if there is interest, Let us know.. JDN

Yeah, Im interested for sure! I will post some TPO comparisons.

Ok.

Will create one....and lets explore the ideas...

JDN

Grantx 

Yeah, Im interested for sure! I will post some TPO comparisons.

Here you go...

@Grantx

https://nexusfi.com/elite-trading-journals/46109-market-profile-tpo-volume-profile-exploring-ideas.html#post704920

Grantx 

Yeah, Im interested for sure! I will post some TPO comparisons.

Absolutely I use TPO charts for 'trade signals'

Like you said though; it is all about how we use the information presented to us. I am a VERY short term trader...scalper. Very rare am I in a trade longer than half hour or so; so the TPO charts offer great information on likely turning points.

Little subtleties on interpreting the data and the developing profile; such as today's ES action:



The first clue that this could be a big uptrend day; apart from looking at a standard candlestick chart; is the lower purple arrow. When, in the 4th period of the day (11:00-11:30am) we broke the high of the initial balance denoted by the vertical blue bar....that was the first indication of a possible trend day forming. (Ended up being a double distribution day)

The second clue are those green arrows where we took out a naked POC and a naked volume POC from the island reversal last friday...we didnt even pause there; bulls kept buying right through that previous area of balance.

The third clue came on the higher purple arrow when we again extended the day's range by printing single TPO's. Granted, this move was fueled by fed announcement, but that was an indication that the initial move up could have some legs and actually hold that initial spike; as opposed to the typical reversal of first direction following fed news.

These charts with watching 1 min chart and simply watching the orderbook..... works well for me