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Date/Time: Thu, 07 Jul 2022 16:21:40 +0000



[User Discussion] - Tpo Value Chart and Tpo Value Area Lines

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[2014-02-13 14:08:05]
User49270 - Posts: 43
I'm trying to find out why my Tpo Value area lines study show different values on a 5 minute chart than a regular 30 minute Tpo chart.
[2014-02-13 15:31:23]
drywater0 - Posts: 83
SC Support,
I often face a similar issue whereby the Volume Area Value Lines (Vol PoC, Vol Value Area High & Low) on my time period based charts (1 min & 5 min) are NOT consistent with the actual TPO and VbP TPO chart.

In an effort to resolve myself I have gone back and double checked all my settings for both the underlying instrument and the studies, but this has not solved the problem. Sometimes when I do a "Delete and Download Data" from the beginning of the day, the issue is corrected but this doesn't work every time.

I look forward to any guidance you can provide. Many thanks in advance.
[2014-02-13 17:49:06]
Sierra Chart Engineering - Posts: 103695
Both of you, please refer to this section here:
https://www.sierrachart.com/index.php?l=doc/doc_TPOVolProfileCharts.html#IncorrectValues

That section does not specifically apply to Volume Value Area Lines, but some of the information is relevant to it.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service:
Sierra Chart Teton Futures Order Routing
[2014-02-14 18:00:46]
drywater0 - Posts: 83
SC Support,

I went through the online checklist for inconsistencies in my settings. What is the next step in terms of resolving the issue? Would you like me to send you screen shots of the charts in question along with all my settings? Thanks for your assistance.


[2014-02-14 18:37:44]
Sierra Chart Engineering - Posts: 103695
We will need to get a Chartbook from you consisting of the following and nothing more please:

One chart with the Volume Value Area lines study
One chart with the TPO Profile Chart study and the Volume by Price study.

Please provide it by following these instructions:
https://www.sierrachart.com/index.php?l=PostingInformation.php#AttachFile

Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service:
Sierra Chart Teton Futures Order Routing
Date Time Of Last Edit: 2014-02-14 18:38:04
[2014-02-14 21:04:38]
drywater0 - Posts: 83
SC Support,
Many thanks in advance for your help. I noticed this issue some time ago, and have tried to resolve myself to no avail. Enclosed please find 3 screenshots in addition to the requested Chartbook. I include additional attachments because I believe that the Letter/Block Price Increment in Ticks may be relevant.

1) Simplified Chartbook as requested.
2) Screenshot #1 with Letter/Block Price Increment in Ticks set to my default of 2.
3) Screenshot #2 with Letter/Block Price Increment in Ticks set to 1.
4) Screenshot #3 with Letter/Block Price Increment in Ticks set back to my default of 2.

Just in case the screenshots are difficult to read, the values for VAH, PoC, VAL for the TPO & VbP chart.
#1 184.14 183.58 183.28
#2 183.86 183.59 182.98
#3 184.16 183.58 183.28

The corresponding values for 1 min chart are basically the same in all 3 screenshots:
#1 183.86 183.59 183.00
#2 183.86 183.59 182.97
#3 183.86 183.59 182.96
Although there is a small variation in the VAL, it is probably because the market traded consistently higher during the short period when I ran these tests.

My concern is the shift in the VAH & VAL of about 30c when changing the Letter/Block Price Increment. When this is set to 1 tick, the TPO/VbP chart is consistent with the Value Area Lines on the 1 min chart. Given the Letter/Block Size Increment setting does NOT exist on the Value Area Lines study, can I assume that it is set internally to the natural minimum of 1 tick?

Although changing the setting to 1 tick seems to make things consistent, it is not clear to me why changing from 1 tick to 2 ticks should have should a large impact on VbP? I can see how it might affect the TPO PoC & Value Areas because increasing the size makes the calculations less precise as one TPO can shift things widely given the limited amount of TPO’s on a typical trading day. However, the volume traded at 1 tick vs. 2 tick increments should be less vulnerable to such distortions. This is especially true for SPY (SP500 ETF) given (1) highly liquid with typical volume of 100mm+ shares and (2) the very small tick size of only 1 cent vs. the equivalent of a 2.5 cent tick size for the ES future.

Both before and during these tests, I used Delete and Download Data to make sure this was not an issue. I also ensured that my Chart Settings were consistent in terms of Tick Size and Session Times.

I appreciate your time and attention. Please let me know if you need more information from me.


attachmentVolValArea vs TPO Profile & VbP.cht - Attached On 2014-02-14 21:02:54 UTC - Size: 71.65 KB - 390 views
image#1 VA Lines vs. TPO & VbP - 2 tic.JPG / V - Attached On 2014-02-14 21:03:34 UTC - Size: 321.2 KB - 498 views
image#2 VA Lines vs. TPO & VbP - 1 tic.JPG / V - Attached On 2014-02-14 21:03:48 UTC - Size: 301.45 KB - 480 views
image#3 VA Lines vs. TPO & VbP - back to 2 tic.JPG / V - Attached On 2014-02-14 21:03:58 UTC - Size: 298.58 KB - 466 views
Attachment Deleted.
[2014-02-18 03:27:27]
Sierra Chart Engineering - Posts: 103695
This information has been added to the documentation:


Volume by Price study: When comparing the Value Area and Point of Control from a Volume by Price study to a Volume Value Area Lines study, you need to set the Ticks per Volume Bar input with the Volume by Price study to 1, since this is what is used in the Volume Value Area Lines study.

You have also provided more information than was needed here. We cannot possibly spend the time reading through this and responding to it as it is outside the scope of our support.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service:
Sierra Chart Teton Futures Order Routing
[2014-02-19 01:59:56]
drywater0 - Posts: 83
SC Support,
Thanks for updating the reference material. Sorry it was not my intention to overwhelm the team with details but I thought more information might aid in a solution. Going forward, I will keep it succinct and rely on you to request more if you deem necessary. As always, appreciate your help with what really is a great product.

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