Insider Bars allows you to display VWAP (with or without standard deviation bands), Value Area, and VPOC on your charts. To set up this feature, choose the timeframe, items desired and VPOC desired from the three drop-down boxes at the top of the input screen.
- Multiple timeframes are available: Day, Week, Month, Quarter and Year. (Note that for longer timeframes, you will have to use minute source data; TradeStation only offers six months of tick data.)
- Current values and prior session values may be displayed. Prior period colors are based on current period colors. If you would like to better distinguish the two, there is a checkbox on the color panel to set alpha (transparency) for prior plots. This makes the prior values less bright, making it easy to tell them apart.
- The prior period range may also be displayed.
- Two timeframes may be displayed on a chart. These are known as Set 1 and Set 2, and each has a tab at the top of the VWAP, VA, POC, VP tab.
- The options for Set 1 and Set 2 are identical, except that the background shading option for prior range and prior Value Area is not available for Set 2.
- On the Set 1 color panel, there is a checkbox to automatically make Set 2 colors the same as Set 1 colors. Check this before you make color changes.
- Note that you may choose the number of ticks to use calculating VPOC. The standard is one, but for some markets a higher number can give more consistent results.
Note: Blog posts like this one offer basic information. For more details, see online help.