Price/Volume (standard chart)

[mbaniewicz]

With 24-hour markets that operate without reference to time and place, the volume distribution ("volume at price") is a critical data point. Steidlmayer warned of this sea change nearly 20 years ago ("Change is necessary, and it lies in the acceptance of the timelessness of distribution as it relates to market organization.")

Market Profile is one solution, but data organization within the profile deems "volume" as a function of time and price (with the TPO method). This is rather eviident when viewing a continuous 24-hour profile, where TPOs accumulate during slow market hours, yet volume does not. The "volume at price" distribution presents a more accurate depiction of true capital flow.

With that being said, I would propose that eSignal expand on this tool within their software package. A few of the issues/questions/suggestions I have with the current "Price/Volume" chart within the standard charting package are as follows:

1. Is true "volume at price" represented, or is it simply "tick volume?"

2. Time parameters currently do not allow a trader to look at volume over multiple days. It does not allow a lookback even over a typical 24-hour GLOBEX session (18:00EST to 17:00EST).

3. Highlighting "last price" within the distribution would also be helpful tool.

4. Color changes based on time within the distribution. For example, volume closer to current time has a different shade/color than volume occurring further back.

Please respond. I hope that this creates a discussion and awareness about this form of market analysis.

[tttay]

Price/Volume (standard chart)

This is something I've been looking for too.
Perhaps in addition to what mbaniewicz has suggested, I've 2 more suggestions:
1. Allow different colors for volume done at bid and volume done at offer on the same volume bar.
2. Allow the price/volume chart to be displayed together with the advanced chart, say at the left or right.

[bribbledorn]

I discovered this form of chart today and was quite excited by it, although I was quickly disappointed as well by a lack of some of the aforementioned possibilities. I would like to also add a suggestion to make it possible to use the crosshair cursor on this chart, as it can sometimes be tedious to line up which peaks and troughs correspond to which prices on the side of the chart, this being a limitation inherent in standard charts.

[ACM]

bribbledorn
FWIW there is a crosshair cursor [with data window] also in the Standard Chart albeit not quite as sophisticated as that in the Advanced Chart
To enable it first click the Info Window icon [circled in red in the screenshot enclosed below]. Note that you can move the Info Window by just clicking and dragging it. Then press the left mouse button as you navigate the chart [the mouse pointer will change to a crosshair pointer] and in the Info Window you will see displayed all the values corresponding to the bar on which the crosshair is positioned [including the values of studies, etc]
Alex

Originally posted by bribbledorn
I discovered this form of chart today and was quite excited by it, although I was quickly disappointed as well by a lack of some of the aforementioned possibilities. I would like to also add a suggestion to make it possible to use the crosshair cursor on this chart, as it can sometimes be tedious to line up which peaks and troughs correspond to which prices on the side of the chart, this being a limitation inherent in standard charts.