TPO chart for equities, is this possible?

[NMN]

Hello Traders,

I'm a long time price action trader and only trade equities. Can a TPO chart be used to chart a stock? I can find little to no information w.r.t trading equities via TPO and/or Volume. Should I just forget about this and move on? I would appreciate any information that you could give me.

Regards,
nmn

 

[Donovan2580]

Hello Traders,

I'm a long time price action trader and only trade equities. Can a TPO chart be used to chart a stock? I can find little to no information w.r.t trading equities via TPO and/or Volume. Should I just forget about this and move on? I would appreciate any information that you could give me.

Regards,
nmn

Yes you can chart anything on a TPO chart - It is just a different way of displaying price and time.

 

[NMN]

Yes you can chart anything on a TPO chart - It is just a different way of displaying price and time.

Donovan, Thank you! Regards, nmn

 

[NMN]

Donovan,

Thank you!

Regards,
nmn

 

[NMN]

I’ve had no success setting up MotiveWave TPO software! I feel as if I’m wasting my time with something that just not working for me. Can anyone recommend any TPO software that will actually work for trading equites?

Regards,
nmn

 

[Donovan2580]

I’ve had no success setting up MotiveWave TPO software! I feel as if I’m wasting my time with something that just not working for me. Can anyone recommend any TPO software that will actually work for trading equites?

Regards,
nmn

What exactly have you tried that is not working for you??

Here is a TPO chart of Microsoft - Each TPO is 1 day.

I just loaded a chart, added the TPO study and hid the price bars. As I said above anything that can be charted, can be displayed as a TPO Chart.

What is it that you are looking for when you say "Can anyone recommend any TPO software that will actually work for trading equites?"

 

[NMN]

Hello Donovan,

Thank you for your help. The TPOs appear to be too compressed, and I would like to see letters. I'm thinking that the scaling and the TPO study have a problem working together. Furthermore, the TPOs don't look like any of the examples from my reading. As such, this software isn't going to add any money to my trading account. This is business for me, to find some TPO software that will work. Again, thank you for reaching out.

Regards,

nmn​

 

[iCoder]

I suggest before writing something off, play around with the settings & you should be able to get what you're looking for.

I guess you're looking for something like this, which is very much possible in Motivewave

 

[NMN]

Yes, your TPO chart looks very good. I prefer to use optimal TPO information for capturing max details about the market generated information. There is no thumb rule to set the TPO size for various instruments, if you find too much of information then one has to increase the TPO size or if you find too less of information from the profile distribution then one should reduce the TPO size.

I'm posting a TPO of (NASDAQ:MSFT) that I came up with by changing the the size of the Tick Interval that I used, but I truly don't trust it.

I will not be putting a trade on using the information from this software. Sorry, I don't mean to be stepping on anyone toes, but this is just business for me.

Regards,
nmn