TPO: POC divergence

Tradingview capitulated and gave us back multichart publishing, which means it's easier to delve into some educational content for me.

Let's take a look at the recently added TPO charts, which I added on the top left chart.

Time Price Opportunity is a way of visualising at which prices most time was spent during the daily session. It is very similar to Session Volume Profile, but instead of measuring volume traded at each price, it measures time spent at each price.

Each block represents a 30m period during the daily session. You have the option to use letters and colours to show you which 30m period that is too, but we will focus more on the basics today.

This means that, if we have only 1 block at a row price only traded at this price during one 30m period.

The Time Point of Control (tPOC or just POC) represent the opposite of that: this is where price spent most of its time during the daily session.

Just like in volume profiles, starting from the POC you can create a value area, VAL and VAH. Most of the time they kind of overlap with volume value area (vVA or just VA).

In yesterday's session, we can see what is called a double distribution on both volume and time: we have a node at the bottom and the top of the price range, with an imbalance in between. Interesting here is that tPOC is at the bottom, but vPOC is at the top. Or: even though price spent most of its time at the bottom, there was significantly more volume traded at the top.

There is no direct "up or down" implication here, but it strengthens the importance of keeping an eye on the vPOC.

Single Prints

The blue lines on the TPO chart represent single prints (SP). These are price levels that only got visited during one block (30m window) during the session. They are considered imbalances, similar to fair value gaps, and they have a high probability of getting revisited at some point.

When single prints occur at the top or bottom of a sessions, these are considered good highs and lows, because price went into excess here but was quickly corrected back into fair value.

When a daily sessions leaves tops or bottoms that don't have single prints, these are considered to be poor highs and lows, which have a high probability of getting 'cleaned up' at some point. Again there is no implication whether we get rejection or continuation there, but it is high probability level that can be useful in many different strategies.

Hope that helps, feel free to reach out in the comments if you have any questions!