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TPO Market Profile MT4

Definition :

A TPO is a Time Price Opportunity. This is marked as a single letter in a Market Profile.
Instead of using bars or candles with an Open, High, Low, and Close price, each "bar" in a Market Profile is represented by horizontal bars against the price that the market traded at during that time interval. It is called Market Profile terminology.

In other words time-price-opportunity (TPO) profiles are histograms of how much time was spent at each price within the span of the profile.

The indicator can help determining of Support-Resistance levels.


Inputs :

  • Period (Days) : Each Histogram Length
  • Number of Histograms (max 30) : Total Number of Histograms Drawn on Chart.
  • Accuracy (max 1000) : Accuracy of Histograms. Lower values give Discrete Histogram. Higher values give Softer Histogram.
  • Magnifier (0.1~1) : Horizontal Length of Histograms

Buffers Description for Programmers :

        int DaysPeriod=5;
        int NumOfHisto=3;
        int Accuracy=50;        
        double Magnifier=0.9;
        
        double TPO_Price[];
        double TPO_Time[];
        
        int TPOHandle;

        TPOHandle=iCustom(Symbol(),Period(),"Market\\TPO Market Profile MT4",DaysPeriod,NumOfHisto,Accuracy,Magnifier);
        Print("TPOHandle = ",TPOHandle,"  error = ",GetLastError()); 


        ///////////////////////////////////////////////////////////// read 1st histogram
        int copy1=CopyBuffer(TPOHandle,0,0,Accuracy,TPO_Price); 
        int copy2=CopyBuffer(TPOHandle,1,0,Accuracy,TPO_Time); 


        ///////////////////////////////////////////////////////////// read 2nd histogram
        //int copy1=CopyBuffer(TPOHandle,2,0,Accuracy,TPO_Price); 
        //int copy2=CopyBuffer(TPOHandle,3,0,Accuracy,TPO_Time); 


        ///////////////////////////////////////////////////////////// read 3rd histogram
        //int copy1=CopyBuffer(TPOHandle,4,0,Accuracy,TPO_Price); 
        //int copy2=CopyBuffer(TPOHandle,5,0,Accuracy,TPO_Time); 

        ///////////////////////////////////////////////////////////// read 4th histogram
        //int copy1=CopyBuffer(TPOHandle,6,0,Accuracy,TPO_Price); 
        //int copy2=CopyBuffer(TPOHandle,7,0,Accuracy,TPO_Time); 

        ///////////////////////////////////////////////////////////// read 5th histogram
        //int copy1=CopyBuffer(TPOHandle,8,0,Accuracy,TPO_Price); 
        //int copy2=CopyBuffer(TPOHandle,9,0,Accuracy,TPO_Time); 


        if(copy1<=0 || copy2<=0) 
                Print("An attempt to get the values failed"); 
        else
        {
                int i;
                for( i=0; i<Accuracy; i++)
                        Print("No. "+(string)i+"   Price="+(string)TPO_Price[i]+"   Time(Length)="+(string)TPO_Time[i]+" sec");
        }
        



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Reviews 1
tomekbeny
211
tomekbeny 2020.06.24 14:40 
 

Simple and Easy to use TPO indicator. Cheap , Light and without complicated settings.

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tomekbeny
211
tomekbeny 2020.06.24 14:40 
 

Simple and Easy to use TPO indicator. Cheap , Light and without complicated settings.