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Question about 6E T&S on NinjaTrader


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Question about 6E T&S on NinjaTrader

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  #1 (permalink)
Auckland, New Zealand
 
 
Posts: 37 since Feb 2017
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I have a question about using Time and Sales (T&S) on 6E.

See the attached pic. I saw a flood of buyers come in (before this pic was taken), and a green renko bar appear at the S/R area.

More buyers stepped in as you can see in the pic but for some reason it keeps tanking? Is the T&S severely delayed? Or am I simply reading it wrong?


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  #2 (permalink)
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pihadave View Post
I have a question about using Time and Sales (T&S) on 6E.

See the attached pic. I saw a flood of buyers come in (before this pic was taken), and a green renko bar appear at the S/R area.

More buyers stepped in as you can see in the pic but for some reason it keeps tanking? Is the T&S severely delayed? Or am I simply reading it wrong?


Not sure I understand correctly your questions, but :

Where do you see that buyers are stepping into the market, from the screen print
i can not tell that.... ?

If you are referring to the 'B' print in the time & sales print, those are block prints
if you right click, you can configure the size of the block alert

Some data providers to do aggregate time and sale data, this could theoretically
lead to false block prints..

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  #3 (permalink)
Auckland, New Zealand
 
 
Posts: 37 since Feb 2017
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rleplae View Post
Not sure I understand correctly your questions, but :

Where do you see that buyers are stepping into the market, from the screen print
i can not tell that.... ?

If you are referring to the 'B' print in the time & sales print, those are block prints
if you right click, you can configure the size of the block alert

Some data providers to do aggregate time and sale data, this could theoretically
lead to false block prints..

I was looking at the number of green buy orders and the size of each one in comparison to the sellers. Before this screen shot, pretty much that entire panel was green with buyers. Just not sure why it tanked.. I figured that would happen if there was heavy selling?

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  #4 (permalink)
Europe
 
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Platform: TradeNavigator, BookMap
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green = traded at Bid red = traded at OFFER/ASK

where a buyer is there must be a seller, otherwise there wouldn't be a trade

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  #5 (permalink)
Auckland, New Zealand
 
 
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tr8er View Post
green = traded at Bid red = traded at OFFER/ASK

where a buyer is there must be a seller, otherwise there wouldn't be a trade

Hi, yeah I understand that there has to be a seller etc. Just wondering why so many green trades showed up with a higher quantity and resulted in bearish action.

My colors seem to be the opposite of what you mentioned. See attached.


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  #6 (permalink)
Elite_Member
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pihadave View Post

My colors seem to be the opposite of what you mentioned. See attached.


That's because what he said is the wrong way round. The default colours, at least in Ninja trader and every other platform I have tried, is red for the bid and green/blue for the offer. There is of course a buyer for every seller but the tape can only be coloured to show one of those so it is showing the aggressor colour. Buying/lifting the Offer is aggressive buying, selling/hitting the Bid is aggressive selling.
Therefore in your example, assuming the green was just before your trade entry was put on, there was a lot of green on the tape which showed agggressive buying, the price bounced up a bit but was probably absorbed by passive sellers who didn't pull their orders from the book as price came up to them. The aggressive buyers get nervous seeing that price isn't going up, their buying didn't attract more aggressive buyers to enter, so then they need to sell to go flat or reverse driving the price lower. Which should have resulted in a lot of red on the tape as price broke through the buying level.
A lot of aggressive buying that couldn't bounce or move the market higher was a warning that the market could still move lower. For a short term trader price coming back down through the price levels where the aggressive buying came in would be a place to exit and re-evaluate.
That is my guess anyway, without the basis of actually seeing a recording of the tape at the time.

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  #7 (permalink)
Auckland, New Zealand
 
 
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matthew28 View Post
That's because what he said is the wrong way round. The default colours, at least in Ninja trader and every other platform I have tried, is red for the bid and green/blue for the offer. There is of course a buyer for every seller but the tape can only be coloured to show one of those so it is showing the aggressor colour. Buying/lifting the Offer is aggressive buying, selling/hitting the Bid is aggressive selling.
Therefore in your example, assuming the green was just before your trade entry was put on, there was a lot of green on the tape which showed agggressive buying, the price bounced up a bit but was probably absorbed by passive sellers who didn't pull their orders from the book as price came up to them. The aggressive buyers get nervous seeing that price isn't going up, their buying didn't attract more aggressive buyers to enter, so then they need to sell to go flat or reverse driving the price lower. Which should have resulted in a lot of red on the tape as price broke through the buying level.
A lot of aggressive buying that couldn't bounce or move the market higher was a warning that the market could still move lower. For a short term trader price coming back down through the price levels where the aggressive buying came in would be a place to exit and re-evaluate.
That is my guess anyway, without the basis of actually seeing a recording of the tape at the time.

Hi Matthew,

Thanks for that. What you said actually makes a lot of sense now. Instead of using T&S for entries, I'm going to experiment with using it to time my exits. I seem to have better luck using price action to enter my trades.

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