CL Redux

Quote from ammo:
attachment.php

cl
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ammo that was good Volume Profile chart (ref. http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:volume_by_price)

one observation from my side: for CL I feel 5 day window gives good projection of TOMORROW price histogram than last 10/15 days , reason being once the CRUDE OIL
sentiment moves 10/15 ago price action may not contribute much to PROJECTED tomorrow price action ( where as last 5 days price action does ).

for those interested in further study , here is a link from web ..
http://readtheprospectus.wordpress.com/2010/02/28/volume-profile-goes-native-to-think-or-swim/
Nice Profile charts form TD , with customization on
- Price Per Row Mode: Choose how it calculates how wide the volume “bin” is.
- Time Per Profile:
- # of Profiles:
- On Expansion:

volbyprice.png


two “Volume Profile” studies. One is set to “Chart” and “On Expansion=yes”, so it is an overall summary of all the volume on the chart.
added one set to “Two Days” and “On Expansion=no”. This results in multiple two-day volume distributions plotted on top of price.

<b>Above Chart is for 2/26/10 EOD that is Friday and Expansion showed Volume Profile for future next day that is coming Monday </b>
 
Quote from DonCorleone:

IV,

thanks for the TOS post. do you happen to know what the difference is between volume profile and tpo profile on TOS? TIA.
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Volume profile as shown on above chart is simple that is 'Volume plotted on PRICE scale instead of usual TIME scale ' as histogram .

TPO profile is much complex subject , here is a link I found on web may help you ( not TD/ThinkorSwim )
http://www.sierrachart.com/index.php?l=doc/doc_TPOVolProfileCharts.html

I do not use TD/ThinkorSwim charting . but simple Volume Profile you can do with many Charting software
 
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