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Bid/Ask Spread Plot
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Created: by cbritton Attachments:1

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Bid/Ask Spread Plot

  #1 (permalink)
Elite Member
Atlanta, Georgia
 
Futures Experience: Intermediate
Platform: NT
Broker/Data: DDT
Favorite Futures: ZN, ZB
 
cbritton's Avatar
 
Posts: 224 since Mar 2010
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Bid/Ask Spread Plot

I put together this indicator to show where the inside bid and inside ask is on a chart. The idea came from a couple of different indicators found on the TS forum. This indicator will plot lines for the inside bid and inside ask on the "space to the right" of the chart. The difference (spread) is also plotted below the low (and slightly to the right, however, the exact position of the text is a work in progress, but I realize that some may prefer a different location). See the screen shots for examples. I've tested this on 5 minute and 6 range charts. However, this indicator may not be useful for big time frame charts where it's not easy to see the small range of the spread.

I don't have multicharts, so I have no idea if this works on that platform.

Regards,
-C
 
Code
Vars: intrabarpersist spread(0),
      intrabarpersist spacing(-1), 
      intrabarpersist plotsize(0),
      loop(maxbarsforward),
      k(0);

if Value1 = 0 then
    Value1 = Text_New(date, time, Close * 2, "  ");
Plot3(c, "Text");        
Text_SetStyle(Value1, 2, 0);
Text_SetColor(Value1, getPlotColor(3));    

If LastBarOnChart then begin
        
    Spread = DecConvPip(insideAsk - insideBid);

    if Value1 > 0 THEN BEGIN
        Text_SetString(Value1,"" + Numtostr(Spread,1));
        Text_SetLocation(Value1, Date, Calctime(time,2.5), Low - 2*(minmove/pricescale));
    end;  
    
    for k = 0 to loop begin
          Plot1[-k](insideBid, "Bid");
          Plot2[-k](insideAsk, "Ask");
    end;
    noplot(1);
    noplot(2);
    
end;
noplot(3);

“Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” - Sun Tzu
Attached Thumbnails
Bid/Ask Spread Plot-bid_ask_spread.png  
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The following 5 users say Thank You to cbritton for this post:
 
  #2 (permalink)
Trading Apprentice
Baton Rouge, La USA
 
Futures Experience: Intermediate
Platform: Tradestation
Favorite Futures: Forex
 
Posts: 1 since Aug 2013
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Thanks !

Had been trying to do this on my own as a rookie and could not quite get there. This is exactly what i was looking for and is educational at same time.

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  #3 (permalink)
Trading Apprentice
Frankfurt + Hessen//Germany
 
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Platform: Tradestation
Favorite Futures: Forex
 
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I am getting an error compiling it, because I don't seem to have the function DecConvPip in Tradestation.
What does it do? Can you please share the code of DecConvPip? Thanks a lot!

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  #4 (permalink)
Market Wizard
Hamburg Germany
 
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philmg,

you can take a look at the modified study here it doesn't work DecConvPip: https://futures.io/easylanguage-programming/27249-bid-ask-line.html#post328434

Regards,
ABCTG

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  #5 (permalink)
Trading Apprentice
Frankfurt + Hessen//Germany
 
Futures Experience: Intermediate
Platform: Tradestation
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Posts: 2 since Mar 2014
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thanks, but I guess this one doesnt work for forex so far. the onetick word is also not recognized. what can i do?

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  #6 (permalink)
Market Wizard
Hamburg Germany
 
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philmg,

you will need to copy and paste the whole code from my post. OneTick is a variable declared further up in the code it will be reconized when you use the full code.

Regards,
ABCTG

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  #7 (permalink)
Elite Member
Ireland
 
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Bid/Ask Indicator for NT

Hi folks

does anyone know if there is an indi that will plot the bid/ask on a NT chart for futures and fx?

Cheers...

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  #8 (permalink)
Site Administrator
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Bosch777 View Post
Hi folks

does anyone know if there is an indi that will plot the bid/ask on a NT chart for futures and fx?

Cheers...

This is the TradeStation section you posted in. Post in the Ninja section.

Mike

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