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dvalue indicator issue
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dvalue indicator issue
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? thanksTags: None
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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.JasonNinjaTrader Customer Service
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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.
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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?JasonNinjaTrader Customer Service
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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.
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Originally posted by shayke73 View Posthi. 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
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.
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