Market Profile•2026-01-25

Protocol: VPOC (The Golden Horse)

Distinguishing between price (advertisement) and value (acceptance). How to read the Golden Horse versus the Marengo.
By VolMike
Protocol: VPOC (The Golden Horse)

Price is simply an advertisement. It represents where the market attempted to go. Value is acceptance. It represents where business was actually transacted.

In the VolMike system, we prioritize Value above all else. The core metric for this is the Volume Point of Control (VPOC)—the single price level where the most volume traded during the session.

In the terminal, this anchor is represented by the Golden Horse.

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THE GOLDEN HORSE (VPOC)

The Anchor of Value.

The Golden Horse represents Equilibrium. It is the price level where buyers and sellers found the most agreement.


Unlike other signals that signify motion, the Golden Horse signifies Gravity. Price often rotates around this level until significant news or volume forces a shift.

The Taxonomy of Horses

To operate the terminal effectively, you must distinguish between the "Three Horses." They all use the Chess Knight symbol (♞), but their color dictates their function in the auction.

1. The Golden Horse (Value) ♞

  • Color: Gold / Yellow (#F59E0B)
  • Definition: The VPOC. The price with the highest historical volume for the session.
  • Tactical Use: This is your reference point. If price drifts away from the Golden Horse on low volume, expect a "Mean Reversion" trade back to the Gold.

2. The Standard Horse (Effort) ♞

  • Color: Green (Bullish) or Red (Bearish)
  • Definition: Relative Volume (RVOL) > 1.3.
  • Tactical Use: This is Fuel. It signals that institutions are actively pushing price. We use these horses to validate a move away from the Golden Horse.

3. The Marengo (Ignition) ♞

  • Color: Teal (#2dd4bf)
  • Definition: RVOL > 1.3 + Price piercing the Bollinger Bands.
  • Tactical Use: This is Expansion. The market is entering a volatility breakout. Do not look for value; look for continuation.
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MIGRATING VALUE

The Acceptance Protocol.

The most bullish signal in the system is not just price rising, but the Golden Horse rising with it.


If the VPOC migrates higher throughout the day, the new prices are being accepted. If the VPOC remains static at the bottom while price rallies, the move is hollow and prone to collapse.

Summary

Know the difference between Motion and Location.

  • The Teal Horse (Marengo) is Motion. It tells you to run.
  • The Golden Horse (VPOC) is Location. It tells you where home is.

Never short a market where the Golden Horse is migrating higher, and never buy a breakout that lacks the Teal Horse to sustain it.