Book Ratio

2016-10-31T13:57:58+00:00

Book Ratio The Depth of Market (DOM) displays the volume offered at bid and ask. By summing the levels for all volume at the ask and bid, you can calculate a book ratio. The order book will never be exactly balanced. One side can show a lot more volume than the other from time to time. This can be used in trying to gather the direction of the market movement. Of course this is not as simple as it sounds. The order book will be influenced by participants offering and cancelling orders in huge numbers. This will also influence the [...]

Sentiment Index

2016-10-31T13:57:58+00:00

Custom Sentiment Index Often times a project requires a study to be able to access data or values from other charts or sources like text files for examples. At the same time it’s crucial to accomplish this in a user friendly and easily customizable way. While it is possible to have several data sources within one chart, it can become hard to handle quickly. More data streams diminish the visibility of each individual data stream. Referencing each data stream in the code can make your code less flexible. The goal for this project was to build a custom sentiment index. [...]

Volume Profile

2016-10-31T13:57:58+00:00

Volume Profile Studies Today Multicharts has the build in ability to display Volume Profiles or Volume Delta charts. Before that we created several studies incorporating these features for customers. A more complex project was creating an external database to store the volume information at each price. This was done to be able to accurately build a volume profile on every chart of choice. A shortcoming in EasyLanguage or Powerlanguage is that you can’t access the volume that was traded at a certain price on a chart. Therefore a typical approach is to divide the total volume for a bar and [...]