TradingView is introducing the Time Price Opportunity chart type.
Just like the indicator, this chart helps traders study the dynamics of price changes over a certain period and determine the price levels with maximum and minimum activity. On the TPO chart, traders can determine price targets that help predict future price movements in the market.
The main element of the chart is the TPO profile, located on the left side, while the Volume Profile is displayed on the right, with a price line serving as an additional data source.
Each TPO profile represents a set daily, weekly, or monthly period. You can adjust both the horizontal (time) and vertical (price) profile granularity in the chart settings.
For the profile horizontal granularity, the size of time blocks dividing each period is crucial. You can select a block size ranging from five minutes to four hours. Each time block is labeled with a letter (uppercase initially, then lowercase if needed) to denote its position within the period. For instance, “A” blocks appear for each price level affected during the first time block, “B” blocks appear for levels with price activity during the second time block, and so on.
The size of each row in a profile determines its vertical granularity. The chart can choose the row size automatically, or you can manually specify the number of ticks in the row.
You can select TPO as the chart type from the menu on the top toolbar.
For greater convenience, the settings are presented in groups:
- In the Line section, you can choose what data the price chart will be based on and determine its color and thickness.
- The Time Price Opportunity section includes the main profile parameters: period, block and row sizes. You can also customize profile colors in this section.
- In the Lines and Labels section for the TPO profile, you can activate lines such as POC, VAH, VAL, Poor high, Poor low, and Single prints.
- In the Volume Profile section, you can toggle the visibility of the volume profile and activate various lines and labels for it.
The TPO chart type is available to all users with a Premium subscription and above.
TradingView has regularly enhanced its platform. Recent improvements include the addition of Volume Candles chart type.
