Hello, isn't POC fluctuating i.e. it won't be the same at the beginning of the session compared to the end of the session? How can it then be used as a support or resistance in order to make decisions while the session didn't end yet?
You can take reference with the previous sessions POC, VAL & VAH and use them as S/R levels. It's true that the POC is being calculated inside of the current session but the fluctuation will be minimal if there isn't large volumes during that session! In trading strategies there isn't "exact numbers" as many of us would like. Always treat S/R levels and POC as AREAS instead of EXACT PRICE LEVELS, instead of a line at an exact price draw a rectangle arround all te POC area and that will be your S/R level Good question BTW!
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Hello, isn't POC fluctuating i.e. it won't be the same at the beginning of the session compared to the end of the session? How can it then be used as a support or resistance in order to make decisions while the session didn't end yet?
You can take reference with the previous sessions POC, VAL & VAH and use them as S/R levels.
It's true that the POC is being calculated inside of the current session but the fluctuation will be minimal if there isn't large volumes during that session!
In trading strategies there isn't "exact numbers" as many of us would like.
Always treat S/R levels and POC as AREAS instead of EXACT PRICE LEVELS, instead of a line at an exact price draw a rectangle arround all te POC area and that will be your S/R level
Good question BTW!
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100% free community indicator on Tradingview