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Does anyone use the JTstats histogram?
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Does anyone use the JTstats histogram?

  #1 (permalink)
Elite Member
Bellingham, WA
 
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Does anyone use the JTstats histogram?

How do you trade with it? Do you think its better than a simple VolumeUpDown? Maybe the author of this indicator could chime in. I do not see yet how its superior to VolumeUpDown. However, I would like some opinions on this.

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  #2 (permalink)
 Vendor: www.innovative-trading-solutions-online.com 
Hartford, CT. USA
 
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Dragon View Post
How do you trade with it? Do you think its better than a simple VolumeUpDown? Maybe the author of this indicator could chime in. I do not see yet how its superior to VolumeUpDown. However, I would like some opinions on this.


Dragon,

You are comparing apples and oranges!!!

VolumeUpDown indicator displays market orders.

JTstats indicator displays bid/ask book orders.

Which one???

It all depends on what you are trying to achieve.

RJay

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  #3 (permalink)
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Thanks RJay. I guess I better do some more reading on volume

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  #4 (permalink)
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If you use it on bar close, meaning it showing you the majority bias of orders from the previous bar being long short or neutral, some use it as a confirming tool to enter trades based on other things as well. If you want to use it not on bar close then you will be having lots of trades and commissions very quickly.

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  #5 (permalink)
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RJay View Post
Dragon,

You are comparing apples and oranges!!!

VolumeUpDown indicator displays market orders.

JTstats indicator displays bid/ask book orders.

Which one???

It all depends on what you are trying to achieve.

RJay

RJay: first, thanks for your Jstats indicator. Sometimes I am using it quite a bit in conjunction with Dvalue on the left. Sometimes I don't use it at all and just look at price bars. I find it a little hard to look at both!

What exactly is the difference between market and book orders?

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  #6 (permalink)
 Vendor: www.innovative-trading-solutions-online.com 
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cclsys View Post
RJay: first, thanks for your Jstats indicator. Sometimes I am using it quite a bit in conjunction with Dvalue on the left. Sometimes I don't use it at all and just look at price bars. I find it a little hard to look at both!

What exactly is the difference between market and book orders?

Hi cclsys,

Market orders are orders that are executed immediately at best possible fill at current market prices.

Book orders are buy and sell orders placed at specific prices above and below the current market prices. These are the orders that provide supply for the transaction of market orders.

RJay

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  #7 (permalink)
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RJay View Post
Hi cclsys,

Market orders are orders that are executed immediately at best possible fill at current market prices.

Book orders are buy and sell orders placed at specific prices above and below the current market prices. These are the orders that provide supply for the transaction of market orders.

RJay

Oh! How obvious! I thought you were talking about some deeper subtleties between Level II and Level III's etc.

Question: do you know why we don't see the orders on BOTH sides of the market versus only one side? And do you know if the floor traders have screens showing both sides, or other institutions? I mean, above the price there are stop market and stop limit orders to buy and below the same to sell. Those are in there. Why don't we get to see them?

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  #8 (permalink)
 Vendor: www.innovative-trading-solutions-online.com 
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cclsys View Post
Oh! How obvious! I thought you were talking about some deeper subtleties between Level II and Level III's etc.

Question: do you know why we don't see the orders on BOTH sides of the market versus only one side? And do you know if the floor traders have screens showing both sides, or other institutions? I mean, above the price there are stop market and stop limit orders to buy and below the same to sell. Those are in there. Why don't we get to see them?


Working on it!!!

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  #9 (permalink)
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Dragon,

Where that indicator VolumeUpDown could be found ?

Krgds,
Andrew


Dragon View Post
How do you trade with it? Do you think its better than a simple VolumeUpDown? Maybe the author of this indicator could chime in. I do not see yet how its superior to VolumeUpDown. However, I would like some opinions on this.


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  #10 (permalink)
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Its stock in your ninjatrader indicators list. Scroll to the bottom.

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