Moving Mode TPO

When calculating the statistical mode, we arrive at the price for which is the highest occurrence of trades – the volume peak – was observed. Rather than simply referencing the close value of the last N bars, this indicator references the entire price range of the bar, i.e. the time price opportunities (TPO).

Indicator Description

By using the Moving Mode TPO, we identify the volume peak, i.e. price that had the highest occurrence of trades. Rather than simply referencing the close value of the last N bars, this indicator references the entire price range of the bar, i.e. the time price opportunities (TPO).

We thereby arrive at the moving mode TPO referencing the price point of the bars in the lookback period with the highest number of trades.

The indicator is available for NinjaTrader 8.