The Description

The TPO Indicator gives the user a quick and easy way to view the key Market Profile® price levels of POC, Value Area High (VAH), Value Area Low (VAL), and developing POC, VAH, and VAL. It also allows the user
to review these values historically and see how price reacted when approaching these levels. While developing POC, VAH, and VAL change throughout the day, traditional Market Profile® charts only show the
current values. The TPO Indicator allows the user to look back and see where the levels were at any given historical time.

The RTL token for this indicator is TPO. When used in the language, in addition to the VA & POCs mentioned above, the TPO indicator provides the user access to IB High and Low, 2x and 3x IB Highs and Lows, TPO
counts, TPO counts above and below the POC (both with and without singles). These are very powerful tools for users interested in backtesting Market Profile® related strategies, or charting Market Profile® related data on traditional charts.

The Market Profile® enablement is needed in order to used this indicator.

Value Area (VA): Area where 70% of the TPOs (time-price opportunities) occurred.

Point of Control (POC): Price at which the most TPOs occurred.

For a more complete understanding of the Point of Control and the Value Area, review the documentation and videos on Market Profile Charts.

The Presentation - more on Charts

Above is the TPO indicator show each days POC and Value Area.

The Preferences

• Tick Increment - Distance between consecutively traded prices for any given instrument (eg. 0.25 for ES, 0.01 for most stocks).
• First Letter Time - Number of minutes used for the first letter (period)
  from a Market Profile® persective. This is most commonly 30 minutes,
  but can be set to 10 minutes for symbols like ZB whose session begins
  at 8:20am EST.
• Current - Previous - These checkboxes control whether lines will be
  drawn for the current (developing) and previous day's POC & VAs.
• Color Controls - These color controls allow the user to specify the
  color and style (solid, dotted, etc) of each of the 4 lines: Current POC,
  Current VAs, Previous POCs, Previous VAs.

RTL Token - more on RTL

The RTL Token for the TPO Indicator is TPO. To look for price being within 0.50 of the developing VAH:

CL >= TPO - 0.50 AND CL <= TPO + 0.50

where the TPO indicator is set as follows:

Tick increment: .25
First Letter Time: 30
Result: DVAH