Sierra Charts with BOOKMAP or Similar?

May 12th, 2017, 10:41 AM

Hi Everyone,

Is anyone using Bookmap style features in there Sierra Charts trading and coding it in the ACSIL?

If so how are you finding effective?

Thinking about using it for a exit signal

May 15th, 2017, 03:30 PM

If you are inquiring about Market depth historical graph, yes many of us are using it and there's a thread in this forum about it.

May 15th, 2017, 04:01 PM

Great how you liking it?

Is there a lot of difference between this and pure bookmap?

I'm looking for it to help with Exit Signals

What elements do you think it could help with exit signal?

Cheers

Alex

May 15th, 2017, 06:13 PM

alex27

Great how you liking it?

Is there a lot of difference between this and pure bookmap?

I'm looking for it to help with Exit Signals

What elements do you think it could help with exit signal?

Cheers

Alex

Perhaps it would be advised for you to post in the thread about the MDHG and see how people are using it and inquiring there.

Just a suggestion.

May 15th, 2017, 06:56 PM

I think it is very situational depending on your context.

Here is a pic from yesterday;

At #1 there is a high volume push through a liquidity area, pull back test at #2 and a continuation higher.

- Entry

If the first high volume break occurred in an area I wanted to get long I would jump on it, and look for a potential scale in at the pull back.

If it was an area I was looking to get short I would be looking to see price fail back through that high volume liquidity area and start building a short position.

- Exit

If I was already Long I would be taking some profits at #1 and possible re-adding to the position at the pull back #2

If I was short I would be getting concerned and possibly exiting at #2 it price fails to push back below.

May 15th, 2017, 07:07 PM

Just to add something else, I don't view the bookmap as an additional edge to my strategy, more as an excellent way for me to visualize a risk point for my trade.

In that pic above, depending on my context I could see a way to build a short or long position and have a way to measure if I believe it is proving wrong.

May 15th, 2017, 07:31 PM

amoeba

Just to add something else, I don't view the bookmap as an additional edge to my strategy, more as an excellent way for me to visualize a risk point for my trade.

In that pic above, depending on my context I could see a way to build a short or long position and have a way to measure if I believe it is proving wrong.

I use it as an indicator, for the most part. It's also nice to use to see where the volume is at as opposed to staring at a DOM.

May 27th, 2017, 08:09 AM

I think its like driving a car with the headlights on being able to see the order book.

What is the best way to combine within the sierrachart platform ? - Does there built in version have all the features?

I am looking for it to help me with exit signals

June 3rd, 2017, 11:25 AM

alex27

I think its like driving a car with the headlights on being able to see the order book.

What is the best way to combine within the sierrachart platform ? - Does there built in version have all the features?

I am looking for it to help me with exit signals

As with all things in SC you can add in whatever indicators you want and modify it as you wish.

I posted a chartbook in the MDHG thread in this forum that's a good starting point for it:

Market Depth Historical Graph

Here's my version of it.

There are two studies hidden, they can both be enabled if so desired. One is a different trade indicator study and the other is a volume study in region 2.

This was initially made for /CL and I'm using it for /ES.

The …

June 16th, 2017, 05:11 PM

Looks good.

Sent from my iPhone using futures.io

Sierra Charts with BOOKMAP or Similar?

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Sierra Charts with BOOKMAP or Similar?