OPEN-SOURCE SCRIPT
MGC1! - TPO & Volume Profile (High Precision)
The official TPO takes into account the entire height of the candle (High to Low). If a candle goes from 4270 to 4280, the TPO adds a “mark” on all intermediate prices, not just at the close. That's why your VAH was too low: the script was “missing” the entire upper area of the wicks and bodies.
I rewrote the script engine so that it scans the inside of the candles (High to Low).
Here is the “High Precision” script. It is more computationally intensive (because it loops on each tick), but it will stick much closer to the official TPO values.
Corrective Script: MGC1! TPO Precision (High-Low Scan)
Copy this, replace the old one, and read the settings below carefully.
Translated with DeepL.com (free version)
I rewrote the script engine so that it scans the inside of the candles (High to Low).
Here is the “High Precision” script. It is more computationally intensive (because it loops on each tick), but it will stick much closer to the official TPO values.
Corrective Script: MGC1! TPO Precision (High-Low Scan)
Copy this, replace the old one, and read the settings below carefully.
Translated with DeepL.com (free version)
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.