Market Profile
Calculating the value area via volume
We can also calculate the value area with respect to volume. It is calculated in a
similar fashion to the TPO‐based value area, with the only difference being the
use of the price with highest volume instead of the POC as the central value for
comparing volumes two prices above and below it. See Figure 17.10 for the calcu-
lations of volume‐based value area.
Therefore, the area containing 68 percent of all volume represents the volume‐
based value area. See Figure 17.11.figure 17.8 Finding the Value Area via the TPO Count.figure 17.9 Finding the Value Area via the TPO Count.