Point of Control V2

29 Jul 2022

The genesis of this project was to create a POC library that would be available to deliver volume profile information via pine to other scripts of indicators and strategies.

This is a republish of an invite only script to open access

This is the indicator version of the library function.

A few points of significance:

- Allows the choice of reset of the study period, day/week or bars. This is simple enough to expand to other conditions
- Bar count resets starting from the beginning of the data set (bar index =0) vs bars back from the end of the data set
- A 'period' in this context is the time between resets - the start of the POC (eg. start of Day or Week) until it resets (for example at the beginning of a next day or week)
- Automates the determination of the increment level rather than the user specifying ticks or price brackets
- Does not allow for setting the # of rows and then calculating the implied price increment levels
- When a period is complete it is often useful to look back at the POCs of historical periods, or extend them forward.
- This script will find the historical POCs around the current price and display them rather than extend all the historical POC lines to the right
- This script also looks across all the period POCs and identifies the master POC or what I call the Grand POC, and also the next 3 runner up POCs

This indicator is also available as a library.


BINANCE:BTCUSDT NSE:NIFTY OANDA:XAUUSD NASDAQ:AAPL TVC:USOIL

29 Jul 2022

Nota Keluaran

v3 Minor update

31 Jul 2022

Nota Keluaran

- added error message if the symbol does not have volume
- updated Auto Increment calculation
- made showing the ranked chart data set POCs a display option

A note about volume calculations. If one candle traverses more than one increment/price level, the volume is divided equally between each price level traversed by the single candle, this should be a rare occurrence but it's important to note that all the volume is not placed at the last point of the price for the candle.