I see tremendous potential for expansion in Bookmap's Strength Level Indicator. Especially for stocks, since there are many different exchanges and no matter which subscription you take out, you don't have an overview of the entire liquidity. In the underflow setting, the strength level indicator already shows the difference between the traded volume and the liquidity in the order book. It would be a great help if you could display the delta between BID and ASK. Either time-based or even better displayed within the selected chart range at a fixed place within the heatmap (e.g. top right) similar to how the outside liquidity is displayed.
Thus, one could easily recognize absorptions in the stock market. I hope to implement it as soon as possible.
Strength Level extension (especially for stocks)
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- Posts: 6
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Strength Level extension (especially for stocks)
Last edited by eric_cervenka on Wed Oct 05, 2022 4:11 pm, edited 1 time in total.
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- Posts: 6
- Joined: Tue Sep 07, 2021 6:57 pm
Re: Strength Level extension
A Cumulative Volume Delta in the Inicator Panel would probably be the best idea for a useful representation of the underflow. The delta of the BID and ASK underflow as a CVD line in chart range or session range would offer a real advantage.