Charts

Charts

Chart types

TT offers the following chart types:

Bar

Colored Bar

Candle

Hollow Candle

Line

Mountain

Wave

Price Distribution

Interpreting charts

For Candle, Bar, Colored Bar, and Hollow Candle charts:

  • Green shows the close price was higher than the open.
  • Red shows the close price was lower.
  • A line extending from the body indicates a High or Low different from the open or close.
  • Line with no candlestick indicates the same open and close with a different high or low.
  • Dash with no line indicates no movement.
  • A tail extending from the body indicates a High or Low different from the open or close.

In addition, the color of the bar determines how the chart is read:

  • If the period is green: the top represents the Close (and High if there is no extending tail). The bottom is the Open (and Low if there is no extending tail).
  • If the period is red: the top represents the Open (and High if there is no extending tail). The bottom is the Close (and Low if there is no extending tail).

Price Distribution charts

The Price Distribution chart displays the distribution of price over time. It includes the Initial Balance Range, opening price, a current price marker, the Time Price Area (TPA letters) value area, and the Tick Volume Distribution.

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Interpreting the Price Distribution chart

The Time Price Area (TPA) provides a summary of the letters in the chart.

TPA area

The Time Price Area (TPA) letter summary provides the following information about the letters in the chart.

  1. The number of letters within the Time Price Area (TPA)

  2. The number of letters at the point of control (POC)

  3. The number of letters above the point of control

  4. The number of letters below the point of control

The main part of the chart provides the following information about the price distribution during a trading day.

  1. The letters represent the consecutive 30-minute slices of the trading day.

  2. The arrow pointing to the right identifies the open. The price is the first actual traded price, not the last session's close.

  3. The dark orange shading indicates the Initial Balance Range, which represents the first two TPA letters of the day.

  4. The arrow pointing left identifies the last traded price (LTP) of the distribution.

  5. The dark blue and red letter shading indicates the buy and sell volumes in the Volume Value Area.

  6. The TPA Value Area indicates where 70% of the TPA letters occurred.

  7. The light orange shading in the TPA and in the TPA Value area identifies the point of control, which is the largest number of TPA letters for the distribution.

  8. The Volume Value Area indicates where 70% of the volume distribution occurred.

  9. The small block in the Volume Value Area represents the volume point of control.

Time Price Area letters

Time Price Area (TPA) letters are assigned in 30 minute periods. They are plotted using the letter that is in progress at the beginning of each 30 minute period.

A

08:00

I

12:00

R

16:00

a

20:00

i

24:00

r

04:00

B

08:30

J

12:30

S

16:30

b

20:30

j

00:30

s

04:30

C

09:00

K

13:00

T

17:00

c

21:00

k

01:00

t

05:00

D

09:30

L

13:30

V

17:30

d

21:30

l

01:30

v

05:30

E

10:00

M

14:00

W

18:00

e

22:00

m

02:00

w

06:00

F

10:30

N

14:30

X

18:30

f

22:30

n

02:30

x

06:30

G

11:00

P

15:00

Y

19:00

g

23:00

p

03:00

y

07:00

H

11:30

Q

15:30

Z

19:30

h

23:30

q

03:30

z

07:30

Value area calculation

The value area is calculated by first identifying the price with the greatest volume. Using this, the volume of the two adjacent prices above are summed and the volume of the two adjacent prices below are summed. These totaled volumes are then compared and the larger of the two is added to the value area. This process continues until 70 percent of the volume is contained within the value area. Value area can be calculated using either the actual volume at price numbers or approximated by using TPA letter counts at price levels.

Note: You can change the percentage to use for calculations in the Chart settings.