dvalue indicator issue

[shayke73]

hi. i was wandering if someone can help. i'm using dvalue indicator with the same settings on two charts: 3 range and 5 minute chart. i receive difference plotting. poc(point of control) is different, the profile is not the same, vat, vab are different. what is the reason? and if there is a logic reason, which one of the charts is giving the right info? thanks

[NinjaTrader_Jason]

Hello shayke73,

I am not quite sure how this dvalue indicator functions. It is not present by default in NinjaTrader. However if different intervals are used, you can expect different indicator values.

I suggest to use the interval that suits your trading style the best. One chart will provide dvalue indicator values based on 5 minute bars, the other chart will show dvalue indicator values based on 3 range bars.

[shayke73]

thanks for responding. that's kind of weird. on each price there is a number of contracts traded, no matter how you show it on a chart. its not that on range bars for example, there where 645 contracts traded on a price 2110.50, and on a time based chart it will be 498 contracts. is there a way to check some where for the right data, or how many contracts traded at this price? i might trading on not an accurate data. thanks for the help.

[NinjaTrader_Jason]

Ok, so this indicator shows the amount of contracts traded for each price. I do not see why this is different when using different intervals - it should be the same. Am I correct this indicator functions on realtime data only?

Could it be a different setting is used for 'Calculate on bar close' in the Indicator menu of the charts?

If you compare a 1 minute and 5 minute chart, do you see differences?

[shayke73]

yes. it works on real time data it plots poc from yesterday and vat ,vab from yesterday and the evolving poc for today . i opened a 1min chart with the same setting as the 5min and again, same issue. now the all 3 sowing some descripencies from each other. what will you recomand? and how can i be sure that if i get adifferent indicator, that it will work properly? thanks.

[NinjaTrader_Jason]

Are you sure it does not calculate its values in a different way than just the accumulation of contracts traded? I suggest to contact the creator of this indicator and check if this behavior is as expected.

[shayke73]

i will contact the creator of the indicator to check. thanks for the help

[koganam]

hi. i was wandering if someone can help. i'm using dvalue indicator with the same settings on two charts: 3 range and 5 minute chart. i receive difference plotting. poc(point of control) is different, the profile is not the same, vat, vab are different. what is the reason? and if there is a logic reason, which one of the charts is giving the right info? thanks

What is the indicator measuring? TPO? Then look up what TPO means, and it is obvious that the shape of the bars determines the shape of the TPO map. That is why Market Profile is used, more or less, with a standard 30m time frame. TPO is a crude approximation of "accumulated time spent at price". If you change the price bars, you should expect that any information extracted from the bars, relative to time, would change too.

Using Range Bars introduces a completely new wrinkle, as now the bars are not even the same time length. TPO is essentially just a measure of the number of times that multiple bars touch a price. That number depends on how the bars are being painted. Change the bar-painting algorithm (which is what changing the timeframe IS), and your counts will change.

In reality, it will be no different with Volume Profile. A single high-volume spike in a 5 minute timeframe may be meaningless in a 30 minute bar that encompasses the same time span, if the total volume collapses after that spike.

All indicators are just a mathematical extraction of information from price data. One must know the basis of the information extraction method, in order to understand what information gets presented.

[shayke73]

i was referring to volume profile, which should show volume at price the same on any kind of chart.