TradingView introduces the Time Price Opportunity chart type.
Just like the indicator, this chart helps traders study the dynamics of price changes over a specific period and identify price levels with maximum and minimum activity. On the TPO chart, traders can set 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 appears on the right, with a price bar serving as an additional data source.
Each TPO profile represents a defined daily, weekly or monthly period. You can adjust both the horizontal (time) and vertical (value) sharpness of the profile in the chart settings.
For the horizontal sensitivity of the profile, the size of the time segments dividing each period is critical. You can choose a block size ranging from five minutes to four hours. Each block of time is labeled with a letter (initially uppercase, then lowercase if necessary) to indicate its position within the period. For example, “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 sensitivity. The chart can automatically choose the row size 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 specify 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 enable lines such as POC, VAH, VAL, Bad High, Bad Low and Single Prints.
- In the Volume Profiles section, you can change the visibility of the volume profile and enable various lines and labels for it.
The TPO chart type is available to all users with a Premium subscription and above.
TradingView has regularly improved its platform. Recent improvements include the addition of the Volume Candles chart type.