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Date/Time: Fri, 21 Jun 2024 07:53:01 +0000



Volume by price - project balance target?

View Count: 407

[2023-03-07 18:10:10]
mattvk - Posts: 32
Using the Volume By Price study, I'd like to project a balance target. Is it possible to do this? Balance target would be defined as follows:

A = High of period
B = Low of period
C = Point of control
X = A - C (high - POC)
Y = C - B (POC - low)

If X > Y, draw C - X
If Y > X, draw C + Y

Ideally, it would be a distinct subgraph, able to extend until future intersection.
[2023-03-07 18:34:17]
John - SC Support - Posts: 32500
Use the Spreadsheet Study to do this and use the Volume Value Area Lines along with whatever study you want to use to determine the High and Low of the period (such as the High/Low for Time Period study - depending on the period you want).

Refer to the following for the Spreadsheet Study:
Using the Spreadsheet Study
For the most reliable, advanced, and zero cost futures order routing, use the Teton service:
Sierra Chart Teton Futures Order Routing
[2023-03-07 22:30:11]
mattvk - Posts: 32
Thank you, I have it working for the most part. Is there a way using the Spreadsheet Study to set subgraph to draw until future intersection? I currently have it set to stair step, which is ok but not ideal.
[2023-03-07 23:31:30]
John - SC Support - Posts: 32500
There is not an option to Extend Until Future Intersection for the Spreadsheet subgraphs.
For the most reliable, advanced, and zero cost futures order routing, use the Teton service:
Sierra Chart Teton Futures Order Routing
[2023-03-08 00:05:56]
Sawtooth - Posts: 4027
is there a way using the Spreadsheet Study to set subgraph to draw until future intersection?
You can use the Color Bar Based On Alert Condition study to extend a spreadsheet subgraph until future intersection.
Date Time Of Last Edit: 2023-03-08 00:21:00
[2023-03-08 01:29:32]
mattvk - Posts: 32
Thank you, tomgilb for your your input. I was able to draw the extension lines using the instructions here:

Color Bar Based on Alert Condition: Coloring Subgraphs of Other Studies

However, the behavior was not as intended, as the future intersection method for the Color Bar Based on Alert Condition extends "until they encounter another bar at the same level", causing extended lines to persist even after price has intersected them. For my purposes and IMO the most useful implementation of this, is the ability to set the intersection method as "chart bars" or "volume profiles" (similar to future intersection methods in the VbP study).

Ultimately this would best be implemented as a new feature within the Volume by Price study and use the same logic for value area lines and POC extensions.

ATTN Sierra Chart engineering: *FEATURE REQUEST* please :)

The volume profile balance target is foundational to auction market theory and many traders manually calculate it throughout the trading day. It would very useful to have this feature built into the VbP study.
[2023-03-08 04:28:49]
Sawtooth - Posts: 4027
...causing extended lines to persist even after price has intersected them
For me, the lines don't persist after price has intersected them.

See attached pic for the settings I used.
SG5 is the column O on the spreadsheet.

I'm certain what you want to do is possible.
Date Time Of Last Edit: 2023-03-08 12:46:51
imageExtend SS subgraph to future intersection.PNG / V - Attached On 2023-03-08 04:27:36 UTC - Size: 40.21 KB - 66 views
imageExtend lines to future intersection.PNG / V - Attached On 2023-03-08 04:28:23 UTC - Size: 21.82 KB - 69 views
[2023-03-08 04:56:54]
mattvk - Posts: 32
Tomgilb, thank you for the screenshots! I had "based on" set to the spreadsheet study instead of the main price graph (as specified in the docs). Now it's working as intended, with the extension until the next price intersection. Very helpful, thank you again for your guidance.

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