Introducing the DCA TPO Density Auditor: Revolutionize Your Trading with Time-at-Price Insights (Free indicator)

Introducing the DCA TPO Density Auditor: Revolutionize Your Trading with Time-at-Price Insights

Hello traders! I'm thrilled to announce the release of my latest creation: the DCA TPO Density Auditor. Inspired by classic Market Profile concepts, this indicator brings a fresh perspective to understanding market dynamics through time spent at various price levels. Whether you're a day trader spotting intraday opportunities or a swing trader analyzing broader trends, this tool is designed to give you an edge by highlighting key density areas where the market has "auctioned" the most.

DCA TPO Density Auditor

Overview

The DCA TPO Density Auditor is a versatile Market Profile-inspired indicator that visualizes time-at-price density across user-defined sessions (daily, weekly, or monthly). It approximates traditional TPO (Time Price Opportunity) profiles by mapping price zones where the market spent the most time, helping traders identify key support, resistance, and value areas.

The indicator draws density maps using colored boxes, highlights the Point of Control (POC), and provides a real-time structural density score at the current price.

This tool is for day traders and swing traders looking to understand market auction dynamics, spot imbalances, and make informed decisions based on time-based structures rather than just volume or price action.

Key Features

- Session Profiles: Builds dynamic profiles for the current session and up to 5 historical ones, aligned to session ends for easy historical analysis.

- Density Visualization: Divides the session's high-low range into customizable zones (default 50) and counts bar touches to approximate TPO density. High-density areas appear darker for quick identification.

- Bullish/Bearish Coloring: Zones below the POC are colored green (bullish support), above are red (bearish resistance), and the POC is neutral gray, with transparency gradients reflecting density strength.

- Structural Density Score: A live label displays the density percentage at the current price (green for strong >70%, red for weak), quantifying level reliability.

- Customization: Adjust session timeframe, zone granularity, historical count, and colors to suit various assets and trading styles.

How It Works

The indicator detects new sessions based on the selected timeframe (e.g., daily) and accumulates TPO counts by tracking how often price bars interact with each zone. At session end, it stores the profile for historical display. The POC is calculated as the zone with the maximum TPO count, and colors are applied relative to it. Drawings update on the last bar for real-time visibility.

Note: This is an approximation of full TPO charts (no letter rendering due to platform limits) and focuses on time spent at price levels.

Inputs Explanation

- Session Timeframe: Choose "D" (daily), "W" (weekly), or "M" (monthly) to define profile periods.

- Price Grid Density: Number of zones (steps) in the profile; higher values provide finer detail but may increase computation.

- Number of Historical Profiles: Display up to this many past sessions for context (default 5).

- Bullish/Bearish/Neutral Colors: Customize the hues for density zones to match your chart theme.

Usage Instructions

1. Add the indicator to your chart (works best on intraday timeframes like 5m-1h for day trading).

2. Select your session timeframe and adjust zones/history as needed.

3. Interpret the map: Buy near dense green supports (high score), sell at red resistances. Use historical profiles to confirm trends or ranges.

4. Combine with other tools like volume profiles or candlestick patterns for confirmation.

Important Notes

- This indicator is for educational and analytical purposes only and does not constitute financial advice. Past performance is not indicative of future results. Always conduct your own analysis and manage risk appropriately.

- Performance may vary by asset and timeframe; test thoroughly in replay mode.

If you find this useful, feel free to rate or comment with feedback. Happy trading!