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Direct MessagesDate/Time: Sat, 18 May 2024 16:14:54 +0000
Volume by Price with delta bars coloring method
View Count: 104
| [2024-05-01 19:21:30] |
| jivetrader - Posts: 395 |
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With the following settings, Volume by Price Draw mode: volume profiles Volume Bar Calculation Method: Diagonal Ask Volume - Bid Volume Color Code Volume Bars Based on Percentage of POC: Yes Number of POC Ranges to Color: 10 ...how will the bars be calculated/sized? and how will they be colored into the 10 percentiles? I assume it is the dominant side delta as a % of the POC (which--volume or delta?). GOALS: 1. show the length of the profile bars as a % of max delta POC of visible bars 2. design a coloring scheme that accurately portrays the diag delta, e.g. 90-100% color implies almost total buyer dominance of diag market orders, 0-10% implying almost total seller dominance. The color scheme in my screenshot is not correct/useful. Please advise, thank you. |
 VbP delta coloring.png / V - Attached On 2024-05-01 19:16:07 UTC - Size: 48.52 KB - 22 views |
| [2024-05-01 19:48:54] |
| John - SC Support - Posts: 31704 |
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For the Diagonal Difference of Bid and Ask, the bars are calculated by finding the dominant side and using the absolute Value of that volume. If you display the Volumes in the Bars as "Diagonal Ask Vol Bid Vol Difference" it will be the largest absolute value of the numbers displayed in each bar. Our guess on why you are having a problem with the coloring based on the Percent of POC is that you have the Input for "Value Area, POC, Peak&Value Based on Total Volume Always" set to "Yes". Change this to "No" to have the POC be the bar with the highest Diagonal Difference. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-05-02 00:08:17] |
| jivetrader - Posts: 395 |
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>>For the Diagonal Difference of Bid and Ask, the bars are calculated by finding the dominant side and using the absolute Value of that volume. If you display the Volumes in the Bars as "Diagonal Ask Vol Bid Vol Difference" it will be the largest absolute value of the numbers displayed in each bar. If the values are abs() then how are we supposed to determine the difference between offer vol and bid vol? are you saying the following 2 numbers will be represented the same way? if so, then what good is this being a delta if it does not delineate bid/ask? e.g. -100 = higher diag bid volume +100 = higher diag offer volume >>Our guess on why you are having a problem with the coloring based on the Percent of POC is that you have the Input for "Value Area, POC, Peak&Value Based on Total Volume Always" set to "Yes". Change this to "No" to have the POC be the bar with the highest Diagonal Difference. Value Area, POC, Peak&Value Based on Total Volume Always> This is already set to 'No'. Again, the goal is a logical coloring sequence where lightest blue = maximum volume on the offer, and lightest red = maximum volume on the bid, and dark gray at the midpoint of 0 delta. |
| [2024-05-02 14:49:52] |
| John - SC Support - Posts: 31704 |
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Again, the goal is a logical coloring sequence where lightest blue = maximum volume on the offer, and lightest red = maximum volume on the bid, and dark gray at the midpoint of 0 delta.
The Volume by Price profiles do not have a way to display negative values. Therefore, what you are wanting to do is not possible, as there is no differentiation for the bars (and hence the coloring) for a value of +100 versus -100. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-05-02 15:07:05] |
| jivetrader - Posts: 395 |
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This is disappointing, since the data is already there, but is impaired the abs() formula chosen to present it, which seems like an arbitrary choice that ultimately handicaps the functionality.
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