Volume Profile Std Deviations Plots Question

john3

Active member
2019 Donor
Hello,

If I'm not mistaken, this script from Reddit has been shared here, but the question is, what are the deviations plots are based on? Sometimes they are inside the value area, so it seems that they are calculated from the prior day's POC. Is that correct? Thank you.
 

horserider

Well-known member
VIP
@john3 Looks to be std dev of settlement price if entered manually or std dev of close if auto. As far as I can tell without wasting much time on it, also seems without entering settlement it may not work as designed. This one was quickly deleted from my ToS.
 

john3

Active member
2019 Donor
@john3 Looks to be std dev of settlement price if entered manually or std dev of close if auto. As far as I can tell without wasting much time on it, also seems without entering settlement it may not work as designed. This one was quickly deleted from my ToS.

Makes sense. Thank you. It seems to work pretty well on auto. I have crossreferenced it with other scripts that plot the prior profile and they seem to match. One general issue with the volume profile in TOS is that it uses aggregated volume, so the values are often different on different time frames.
 

markos

Well-known member
VIP
Did you know that mathematically, there are at least 5 different standard deviations? Add that to the difference in aggregated volume on different time frames and you have made quite a soup!
 

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