Anchored Volume Profile PLEASE!
I really think Topstep X should have the anchored volume profile as the fixed range volume profile gets annoying to keep extending while trying to focus on the market and it’s been a turmoil on my trading in this consolidating market.
This request was merged into another request
Comments5
Breezy
Jul 13
•Merged request
•12 votes
Anchored Volume Profile
The anchored volume profile in tradingview functions like the anchored vwap. Both require the user to pick a single point on the chart and it analyzes the data to the end of the chart, automatically incorporating each new bar as it develops and finishes.
Another user requested this and @Jim Fennell stated that it is already implemented. It isn't. The anchored profile is NOT the same as the fixed range profile. The fixed profile has manual start and stop point selected by the user and it does not automatically include new bars.
The anchored profile also displays the profile on the far right of the chart unlike the fixed or session profiles. This is extremely useful for anyone who uses the volume profile as a go-to trading tool. The anchored profile is by far one of Tradingview's best features IMO and would be an excellent addition to TSX asap.
TradingView (notice the two dots on fixed range - start stop points; and a single dot on the anchored profile - start point only)
TopStepX (fixed range only)
Anchored Profile (TradingView)
User defined start point only. Automatically includes new chart information as it develops. Anchors profile to the edge of the screen to where it does not cover bars.
Fixed Profile (TSX)
User defined start and stop point. Profile anchors inside the user defined range. Does not automatically include new information as it comes in.
In summary, the anchored profile is the best tool for trading a developing profile. The fixed profile is NOT the same and it requires the user to constantly drag the end point with each new bar to trade developing profile information. The fixed profile in TSX is subpar for trading developing information.
VWAP bands would also allow traders to trade the developing value area as well, but currently the vwap and anchored vwap do not include the bands in TSX.
Thanks.
Xmsalinas
May 18, 2024
Yes we need this indicator!
Breezy
May 20, 2024
Yeah I think I'm just going to paper trade and hold my combines until I have either a session profile, a anchored profile drawing tool, or vwap bands.
TSX is currently unusable for me. Having to manually adjust a fixed profile every bar is not working at all for me.
TSX is amazing IMO except for the lack of session profiles or an anchored profile. The fixed profile is a laughable substitute at best. Once that gets fixed I'd personally consider it a top contender for futures trading. Right now, it's not really competitive.
Gonna be patient but I could see myself back on MotiveWave pretty quickly if we can't get some real profiles or vwap bands.
Thanks and I look forward to see how this platform evolves. It just isn't quite there yet but I can see this becoming a game-changer over time.