PP,
Very Informative chart with MP
value areas,
Interestingly, as I observed previously either DRH or DRL will inevitably have a value equal to the previous days midrange i.e (H-L)/2 , here DRL is around 1.4684 simply because the pdiff is the difference between
POC and the midrange value, which is then either subtracted or added to it.
What does RR stand for????
What happens in a situation where there is congestion for a few hours and then a strong trend for the rest of the day. The traditional MP construction would then have more TPO in the congestion zone (POC) where that based on (H+L+2*C)/4 would be quite different, under these circumstances do the
value areas differ widely in your experience or are they still relevant to trade with???