Day Trading & Forex Forum

pjpaulin

I'm looking to get feedback on a new prototype Level II viewer. The tool is meant to give a clearer view of Level II data, especially when it comes to showing changes in momentum.

You can view a short (~1 min) video of the prototype at:

Level II Viewer Prototype « Trading Tools Lab

Thanks,

--- Patrick

A Dashing Blade

That's pretty interesting imo, hows about putting the rest of the order flow in a lighter shade behind the bid and ask bars?

Do one that'll take an eSignal feed and I'd be very interested.

pjpaulin

I'm glad you found the prototype interesting. I'm planning on having a rough beta available in two weeks, and I'll update this thread when it's available.

As for displaying order flow, what exactly are you looking for? Would you like to see the cumulative volume for the trading session transacted at each price? Or are you just looking to see order volumes flashing in the background as they're executed?

I'll also look into adding eSignal support. The initial beta will support opentick.

Thanks for the feedback,

--- Patrick

A Dashing Blade

I'm thinking in terms of sorta "ghost" images behind the bid/ask so you can see how much violume is there.

indigowave

Hi Patrick, this is v.interesting. The last n historical would be useful from a trending perspective, (as would some kind of volume indicator).

I am in the UK and so opentick isn't any use to me (since it doesn't look like it covers the LSE) but I could engineer a DDE feed if appropriate.

Good luck
//indigo

pjpaulin

Thanks for the requests. I've added last historical and a volume indicator to the feature list.

Is there a particular data provider you're using to get LSE data? I could look into supporting it.

--- Patrick

indigowave

Hmm, I am using L2 Dealer App (L2 Dealer - Homepage) that uses a locked in data-feed from IG Markets. My alternative is a DDE feed via ADVFN.

//indigo

grantx

Indigowave,

Time and Sales provides price and volume of previous trades.

I have reseached and analysed to death the DOM and I can't find anything which provides any advantage or edge. The only use I've found is size on the bid/ask - shows the rate of attrition, so to speak. If your short at the bid and with 5000 on the ask when the buyers come in, you know you have a little time before you may sweat.

ACV (accumulated volume ratio?) and walls are meaningles. 5000 on the bid? On the Stoxx there were over 2 million contracts traded today and yesterday.

At one point today there were 8000 on the bid and 1000 on the offer but the price still tanked.

There is no correlation between trade size and price movement.

Grant.