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Direct MessagesDate/Time: Thu, 02 May 2024 14:51:40 +0000
[User Discussion] - TPO Initial Balance and Open Timeframe
View Count: 1673
| [2020-12-23 16:10:57] |
| User230940 - Posts: 121 |
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Hello Sierracharts, I am staring to use TPO, Inital Balance and Open Timeframe and think some configuration problems came across. From my understand the Initial Balance time is defined as PreCash Timeframe. For the US Markets like SP500 it could be the whole overnight session and for the German Market it is 1 our hour before cash session starts. I the Chart Configuration i defined for the Session Time SP500 00:00 until 22:30:00 GMT+1 and the Evening Session from 22:30 to 23:59:59 GMT +1. From my Understanding the initial Balance in this configuration is from 00:00 unit 15:29:59 GMT+1 and the Cash is from 15:30 unit 22:30 gmt+1. Iàm using Letters instead of Blocks. TPO Letter/Block Time Period Length Unit -> Minutes TPO Letter/Block Time Period Length -> 30 Initial Balance Range -> 31 This is fine for the Inial Balance, but all the Open* Highlight does not work in this configuration, because the for "Open Time" 00:00 will be used instead of 15:30. Would it not better to have the possibility to be able to configure a PreSession Timeframe in Chart configuration? This behaviour is the same for the German Market too. Only with sorter Timeframes. I tested already with the Session Time Configuration in Chart of: Session Time 15:30 to 22:30 GMT+1 Evening Session from 22:30 to 15:30 GMT+1 But in this configuration the the whole today overnight Session belongs to the yesterday chart. What is the best way to configure to be able to have the full session in today my TPO Chart, including the Initial Balance and the Open correctly? Thanks for your support Have nice chrismas regards carsten |
| [2020-12-23 18:11:02] |
| User365411 - Posts: 173 |
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From my understand the Initial Balance time is defined as PreCash Timeframe.
No You can choose your personal setting for IB but the original concept of Initial Balance refers to the first 2 half hour of the session. from Jim Dalton Glossary https://jimdaltontrading.com/glossarypage/ Initial Balance The price range resulting from market activity (generally) during the first two periods. The actual definition is far less important than the concept; when the initial base of trading is narrow (reading from high to low) it will be easier to knock over or experience “range extension”. A wider base will be more stable and better able to contain price. Some days have no initial balance as the market begins to trend immediately from the opening range with constant range extension. |
| [2020-12-24 08:20:40] |
| User230940 - Posts: 121 |
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Hello thanks, I could ask which Timeframe is it? Open of the future or open of the market? But anyway, is it possible to define the TPO Open Time different from the Chart Session Time? Or is there a other way to define it, like I wish I terms of my strategie? I would like to have the Open Time set to the Market Cash Time but I would like to have the PreCash Session in the Chart too? Thanks best regards |
| [2020-12-24 10:00:19] |
| User365411 - Posts: 173 |
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But anyway, is it possible to define the TPO Open Time different from the Chart Session Time?
Starting from release 2187 you can define up to 5 intraday sessions, at moment seems that there is no description of that in the help section but it works. For USA based exchange futures I suggest to use the local timezone to avoid the daylight savings time shift between USA and Europe during march and october and it's easy (to me...) to build correct TPO profiles. So the "Evening start time" is at 17:00 on Chicago timezone (or 18 NY if you prefer) Date Time Of Last Edit: 2020-12-24 10:02:05
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 tpo_custom.png / V - Attached On 2020-12-24 09:48:07 UTC - Size: 13.74 KB - 242 views |
| [2020-12-25 10:11:21] |
| User230940 - Posts: 121 |
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Hi, thanks for that. But this does work well for me. In Case I use "Custom Intraday Session 1" or "Or Custom Sub Periode" config, the TPO will be split in N separate "Candles", which i do not want. This could be easily done via Split. I would like to use : Highlight Open Range on TPO Profiles Horizontline and Highlight Open in Profile For the "Highlight Open in Profile" I use "I used "Highlight Open of each New Sub Period Within TPO" instead. But this marks all 30 Minutes Opens, this works but i to much information. I would like to have a minimal as possible. And the Open Range Horizontline Line is not possible to get correctly. Thanks regards |
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