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What does this mean on the chart?


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What does this mean on the chart?

  #1 (permalink)
 
chipwitch's Avatar
 chipwitch 
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Picture is just for reference.

Correct me if I'm wrong, but the histogram on the right side of the chart (circled) below represents the current limit orders? Ask above the price, and Bid below the price? The reason I'm asking is that Sierra chart DOM is showing very different data from NT Market Depth map. I realize that there can be some time delay and whatnot, but I see a long bar on the bid side 1 tick above the price on the depth map. That same price on the DOM will have say, 4. I noticed this after RTH, so volume was low (slow). I know the length of the histogram bar is a percentage, not an integer so the long bar having a very short bar 2 ticks above price means that SC should have 1 or maybe 2 ask orders 2 ticks above for the information on the two platforms to agree.

I've looked to see if there's a filter setting for limiting the order sizes but cannot find it in SC. The number of bid and ask orders just seems low to me on SC DOM.

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  #2 (permalink)
 tr8er 
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chipwitch View Post

Picture is just for reference.

Correct me if I'm wrong, but the histogram on the right side of the chart (circled) below represents the current limit orders? Ask above the price, and Bid below the price? The reason I'm asking is that Sierra chart DOM is showing very different data from NT Market Depth map. I realize that there can be some time delay and whatnot, but I see a long bar on the bid side 1 tick above the price on the depth map. That same price on the DOM will have say, 4. I noticed this after RTH, so volume was low (slow). I know the length of the histogram bar is a percentage, not an integer so the long bar having a very short bar 2 ticks above price means that SC should have 1 or maybe 2 ask orders 2 ticks above for the information on the two platforms to agree.

I've looked to see if there's a filter setting for limiting the order sizes but cannot find it in SC. The number of bid and ask orders just seems low to me on SC DOM.

I don't use NT and it is not easy to watch (because the picture is that small), but I'm sure the circled area on this picture is not representing the current limit orders, for me this is the "Volumue-profile" = traded contracts at this price

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 matthew28 
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tr8er View Post
but I'm sure the circled area on this picture is not representing the current limit orders, for me this is the "Volumue-profile" = traded contracts at this price

I thought that but at the current price on the graph there have recently been half a dozen over lapping bars so that should be a high volume area, instead of low volume, and the swing low pictured has the largest histogram bars at and a tick below the low. That suggests depth of orders waiting to buy at the low rather than transacted volume (unless price has been at that level before, however, hard to say without knowing if that is the low of the day or just a bounce in the middle of the day's range).

There shouldn't be a time delay issue between the platforms with a centralised exchange. All platforms will try for as little delay as possible otherwise people won't use the platform. A difference might be if your platforms are on different data feeds, one with full depth, one not? Or if on the same feed, perhaps the indicator or chart of one platform might limit depth to reduce computer resource uses and improve data inflow speed?
Having said that though, the standard ten layers of depth should be essentially the same on a centralised exchange traded product whether different data feeds or brokers.

Perhaps post a larger picture with a shot of the DOM and chart together with time of day, and whether price is in the middle of range or at an extreme of the day.

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
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 chipwitch 
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This is a market depth map... not a volume or market profile.

The bars on the right go away (disappear) as price moves through them. I'm certain they're limit orders, but I cannot reconcile the difference between what the bars show and what is displayed in the SC DOM.

If anyone has a possible explanation, I'd be very grateful.

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 matthew28 
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chipwitch View Post
...............I cannot reconcile the difference between what the bars show and what is displayed in the SC DOM.

If anyone has a possible explanation, I'd be very grateful.

Maybe, as previously suggested, saying whether Sierra charts and Ninjatrader are on the same data feed or not?
Also as suggested, posting one picture of a chart that is large enough to read the numbers on, along with the DOM next to it so the discrepancy in depth can actually be seen and might provide an obvious answer, instead of expecting people to just imagine it and then guess.

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
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 glennts 
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That it may be displaying information that differs somewhat from what you see on Sierra only matters if you believe that it is in fact possible to display accurate real time order book data and if that data, which is changing faster than anyone can process and act upon, is itself useful in making a trading decision.

My suggestion is to not worry about something that might be achievable and likely doesn't matter.

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