Value Area Indicator and Function For Multicharts


Volume and TPO Value Area Indicator and Function Latest Update: Version 1.02 - 2017-02-16 This indicator tracks the volume at each price and the Time Price Opportunity (TPO) count for the chart it is applied to. Based on this tracking it displays the price where the highest volume was traded and the price with the highest number of TPOs. These two values are called volume point of control (VPOC) and point of control (POC). The study also displays a value area around the VPOC and POC. The value area usually encompasses 70 % (roughly one standard deviation) of the [...]