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Date/Time: Fri, 03 May 2024 21:43:25 +0000

Post From: Volume Value Areas

[2018-09-13 16:45:14] Link To Thread - Link To Post [Go To First Post]
User311951 - Posts: 31
Hi, As part of my trading strategy, I must always keep tabs on where the 5-day POC (point of control) is. This includes knowing when it changes as volume accumulates in a new area. I thought the best indicator to use would be the Volume Value Area indicator because it works very well to keep tabs on the movement of the Daily POC. However it does not work as I would like it to work on the 5-day POC. The 5-day POC is constantly being updated and takes into account volume in the past 5 days (it looks back at the 5 days of data from the current moment). For example, if it is Tuesday morning, it will choose the price which has the most volume traded over the past 5 days since Tuesday last week. Similarly, if it is Wednesday morning, it will choose the price which has the most volume traded by ignoring last Tuesday and replacing that data with today's data. In other words, the volume profile should not restart every 5 days, it is an ongoing composite profile. It seems as though the Volume Value Areas indicator instead makes the POC start again every 5 days which is not what profile traders look for. Is there a way that we can get the 5-day moving POC as described above? This would be a huge help and I'm sure most profile traders would benefit. Regards, Talai Capital