Market Pulse
Free To All Users Until April 30th 2023
From March 16th to April 30th all Bookmap subscribers (Digital, Digital Plus, Global, Global Plus, and others) can test drive the new Market Pulse Spread Change algorithm for free!
If you have a free or paying Bookmap subscription, all you need to do is download the add-on.
At the end of this trial period, it will be available for purchase in the Bookmap Marketplace.
What is the Market Pulse add-on?
Market Pulse consists of multiple additional per-instrument widgets. Each widget measures and displays events that are generated by different sources, for example: order flow, order book, options, liquidations, or other events. Market Pulse allows you to monitor multiple instruments and gain a better understanding of market behavior, all in one place.
Each widget contains a unique algorithm. This algorithm processes the data based on a specific logic, and displays the output of the calculation both on the widget, and within the sub-chart. All algorithms include a notification system to notify users about a certain event, or to notify of the crossing of a threshold.
The data source for a Market Pulse widget may come from the subscribed Bookmap instruments, or from an external data source.
Because of this, Market Pulse is a powerful base for multiple insightful algorithms. Volume Pressure is one of them, for example.
To download Market Pulse, simply follow this link: https://bookmap.com/addons/market-pulse. To know more about algorithm prices and how to purchase them go to this section this section.
Getting around this Quick Guide
| Section | Description |
|---|---|
| GO TO ➜ General control elements for all algorithms | There are common controls across all algorithms. Very useful to know, and a good place to start. |
| GO TO ➔ Volume Pressure algorithm | This section details the control elements for the Volume Pressure algorithm. |
| GO TO ➔ Price Change algorithm | This section details the control elements for the Price Change algorithm. |
| GO TO ➔ Quick start and FAQ | To focus on Volume Pressure and answer any questions you might have overall, head to this section and get to grasps with Market Pulse. |
| GO TO ➔ Installation | This section is for those who are totally new to Bookmap and do not know how to install add-ons. |
General control elements for all algorithms
This section contains a description of the algorithm-independent controls that all widgets will have.
General control elements
Refresh custom resources
This feature is not implemented yet. Once you've added custom resources, you can press the refresh button to make sure they appear in your Market Pulse. Read more in the How to load custom sounds and How to load custom algorithms sections.
Details
When selected, you will see additional information at the bottom of your widgets. This information generally only needed for debugging purposes, so you should rarely need this control.
Expand/collapse all
These buttons allow you to expand/collapse all widget configurations across your Market Pulse add-on. This is much faster than expanding/collapsing panels one by one, and is helpful for clearing up a cluttered screen without permentantly deleting widgets.
Close all widgets
This button closes all working widgets, and is much faster than closing them one by one.
Mute all widgets
This button mutes all working widgets. It is much faster than muting widgets one by one, and is especially valuable if excess sound notifications are annoying you, or you want your device to be quiet for a moment.
Reset all widgets to default positions
This button resets the position of all the working widgets to default. Using this you can find widgets you have lost on your screen, or more easily pull them together into a new group.
Create widget configuration
This button will create a new widget configuration. You need to select a data source (either one of the subscribed instruments or an external data source) and one of the available algorithms. New widgets are not started by default.
Individual widget control elements
Remove widget configuration
This button will delete the widget (even while it is active), along with its configuration panel.
Start/Stop widget
This button starts and stops the widget. Press this button after selecting the data source, algorithm and configuring its main parameters to activate the widget. Keep in mind that when starting the widget, the data will be reloaded, which can be time-consuming. After the widget is started (active), the button will become a stop button. The stop button will stop all calculations, hide the widget, and remove the sub-chart lines.
Mute/Unmute widget
This button will enable or disable the sound alerts for a specific widget, while the widget is still active and visible.
Expand/Collapse widget configuration panel
This button controls the view of the panel. There are quick settings in the collapsed view, but if you want to fully configure the widget and the algorithm, you will need to expand it.
Algorithm selection
Algorithms can be selected on both the collapsed and expanded views. Each algorithm has its own configuration parameters, so panels may look different depending on the algorithm in the widget.
Check the Algorithms section with the list of available algorithms.
In the expanded view, there is a cog button to the right of the Algorithm combobox. This is the configuration reset button. It will reset all the widget’s settings to default values, as well as restarting it.
Instrument (data source) selection
The data source for the widget may be selected from the list of subscribed Bookmap instruments, or from a custom external data source.
Name
Only the expanded view has this configuration item.
It is possible to have tens of algorithms for tens of instruments, and by default the name is the combination of the instrument and the algorithm used. For example: BTC-USD@COINPRO Volume Pressure may be one name. As you can see, it is pretty detailed and it is not possible to distinguish 2 widgets with the same algorithm and instrument with the default name.
That is why there is a solution to set your own custom widget names. This custom name will be shown on the configuration panel, on the widget, and on the sub-chart line.
To set your custom name, just click on the custom name box under Visual settings and type whatever you’d like.
To reset a name to default, simply remove everything from the name text field.
Size
This controls the size of the widget. (accessible via expanded view only)
Threshold
This slider defines the minimum threshold for a sound to be played as a percentage value. The higher this parameter, the fewer sound notifications that will be played.
Read more: How to configure the threshold? How could a sub-chart line help me to do that?
Widgets of different algorithms have their own threshold visualizations. Read more: Widget structure
Audio files
Audio files are used for sound notifications. Different sound files can be set for positive/negative values, such as being based on buyers/sellers.
Currently, it is not possible to add your own custom sounds. We will add the ability to load custom audio files in the future.
Volume
This slider controls the volume of the sound alerts.
Algorithms
This section contains the algorithms’ descriptions and algorithm-specific control elements.
Common algorithm control elements
Half-life period
The half-life period is the amount of time it takes for a product to decrease by half the initial value.
The higher this parameter is set, the longer the decay time and the bigger impact of previous events.
Changing the half-life period will restart the algorithm’s calculations based on historical data and the new half-life input. This might take a long time. Because of thisThat is why you will need to press the apply button to apply the changes after you setting the half-life period. The apply button is located to the right of the half-life period slider.
Read more: What half-life period should I set?
Training period
The percentage value of the main widget represents how close the current value is to the max value duringon any given interval. The training period parameter defines the size of this interval.
Increase this parameter if there are too many spikes for you on the sub-chart, as a longer interval should smoothen the chart out.
Read more: What training period should I set?
Prioritize value in %
By default, widgets showing absolute value areis prioritized (with bigger font in the center). This checkbox can be used to change the prioritized value to the percentage figure.
Volume Pressure
The Volume Pressure algorithm is compatible with any instrument. Based on the trading volume events over a certain period, it shows the current sellers and buyers pressure. Historical value is visualized within the sub-chart.
The algorithm is controlled by two parameters: the Half-life period and the Training period. The half-life period is used to control the impact of older-traded volumes. The training period is needed to control the percentage value. The larger this interval is, the more significant the changes must be to fill the bar.
All the values will be shown on the Double bar widget.
Sub-chart indicators
There are various sub-chart indicators for this algorithm that show absolute values as well as their ratio to the estimated maximum value.
Sub-chart buyer indicators
These sub-chart indicators show the forms of Buyer pressure.
Sub-chart buyers pressure % (buyers %)
This sub-chart line shows the buyers pressure as a percentage. The percentage shows the ratio of the current buyers pressure to the maximum estimated pressure value over time.
We recommend enabling this line as it will help to adjust the threshold and training period. Read more: How could a sub-chart line help me to configure the threshold?
Sub-chart buyers pressure absolute (buyers abs)
This sub-chart line shows the absolute buyers pressure value over time. The current value of this sub-chart line will also be shown on the widget. Read more about Widget structure.
Sub-chart seller indicators
These sub-chart indicators show the forms of Seller pressure.
Sub-chart sellers pressure % (sellers %)
This sub-chart line shows the sellers pressure as a percentage. The percentage shows the ratio of the current sellers pressure to the maximum estimated pressure value over time.
We recommend enabling this line as it will help to adjust the threshold and training period. Read more: How could a sub-chart line help me to configure the threshold?
Sub-chart sellers pressure absolute (sellers abs)
This sub-chart line shows the absolute sellers pressure value over time. The current value of this sub-chart line will also be shown on the widget. Read more about Widget structure.
Sub-chart delta pressure absolute (delta abs)
This sub-chart line shows the difference (delta) between the sellers and buyers absolute pressure value over time. In other words, it is the delta between the buyers absolute pressure and sellers absolute pressure lines.
Price Change
The Price Change algorithm can be used with any instrument and calculates the deviation of the last trade price from the average on an interval. The percentage value shows how close the current deviation is to the max deviation, that was detected on the interval.
The algorithm is controlled by the Training period, and is needed to calculate the average price, as well as the max deviation from it on the given time interval.
All the values will be shown on the Circle widget.
Sub-chart indicator
This sub-chart line shows the Price Change as a percentage. The percentage shows the ratio of current price deviation to maximum deviation value, across the set training period.
We recommend enabling this line - it will help you to properly adjust the threshold and training period. Read more: What training period should I set?
Spread Change
The Spread Change algorithm calculates the current spread change, and the standard deviation of the spread change of a given asset. This provides traders with valuable real-time insights into market conditions, as well as the associated risk levels for a given financial instrument.
Combining the Spread Change Algorithm with the Market Pulse widgets allows you to quickly visualize the market through a combination of sound alerts, spread change charts and Circle widget.
How To Configure the Spread Change
To customize their experience, traders can use the training period as an input parameter. This is the length of time over which the standard deviation of the spread change is being calculated, and traders can adjust it depending on the period of time they wish to measure.
Typically, a larger training period will display less volatility, thus traders should adjust their training period according to the size of market trends they wish to be alerted of.
How To Read the Spread Change
A higher standard deviation denotes greater market volatility and risk, while a lower standard deviation suggests the opposite.
By monitoring the standard deviation of the spread change, traders can make informed decisions and adjust their trading strategies accordingly to manage risk exposure. This is where sound notifications help traders quickly identify key market changes from the spread change algorithm.
Sub-chart indicators
Spread %
The Spread change % subchart displays the standard deviation of the spread change as a percentage via a line graph, displayed over the configured period of time.
The y-axis of the subchart shows the standard deviation of the spread change as a percentage, while the x-axis displays time. With color-changes whenever the line passes a threshold, this sub-chart line graph helps provide a visual representation of the consistency of the rate of change for a given financial instrument's spread.
Spread
This subchart displays the current spread change as a line graph over your configured period of time. The y-axis of the subchart shows the spread change, while the x-axis displays time.
The line graph helps traders clearly see how the spread change changes over time, providing a visual representation of the rate of change for a given financial instrument's spread.
Widget structure
Common elements
All the widgets have a:
- Widget name. Read more about the Name if you want to change it.
- Mute button: to mute/unmute the widget.
- Close button: to hide the widget. It does not remove the configuration panel, so it can be easily started again from the add-on configuration panel.
- Loading state, that will appear when the data is being calculated or there are no events to process.
Double bar widget
The Double bar widgets contain:
- The Indicator bars with Absolute values overlayed on top of them are split into buyers and sellers.
- The Maximum value on the given Training period.
- The Threshold line, so long as the widget is not muted, will play a sound whenever the threshold is crossed.
Circle widget
The Circle widgets contain:
- The Absolute value of the asset, in the middle and in bold
- The Relative value showing the deviation of the absolute value during the given interval.
- The Indicator circle as a visual representation of the relative value, color coded for the value increase and decrease.
- The Threshold line, where so long as the widget is not muted, will play a sound whenever the threshold is crossed.
Widget double click
Double-click a widget to toggle the sub-chart data on and off, or switch the data on display.
Widget right click
Using the right click, you can open a context menu where you can select “settings” and configure the widget.
Sound system
The sound system reacts to change in the current value. It has a configurable threshold, which when crossed causes a sound to be played. The current value depends on algorithm parameters, which we recommend configuring first.
Initially, we used Geiger counters and metal detectors as our reference for developing the Market Pulse sound system. The closer it is to uranium/metal, the higher the frequency and the speed of the sound. The same concept is used for our algorithms - the frequency of the played sounds depends on the value above threshold; the higher the threshold-crossing value, the more frequently the sound is played.
Example:
Sound notifications for different bars mean that the corresponding value of that bar in comparison to its previous values has been growing fast enough and has crossed a certain threshold. The more frequently sounds are played, the closer the value to the expected maximum value.
So the values can be compared by sound. Let’s look at the Volume Pressure:
Example #1: you hear the sound and over time the frequency of the notifications is increasing.
- This means the relative value is increasing, in other words something big that requires your attention is happening.
Example #2: you hear the sound and over time the frequency of the notifications is decreasing.
- That means the relative value is decreasing, in other words something big was happening when the value crossed the threshold and now the market is stabilizing.
Read more: How to configure the threshold? How could a sub-chart line help me to do that?
Quick Start and FAQ
Here is an overview of the most frequently asked questions about the Market pulse algorithms. If you have any major questions you want to ask us, check through these first - we may have already answered it!
This is a very long quick guide. What's the fastest way to get started, understand what Volume Pressure does, and get an idea of its value?
- Follow the Installation section of the guide to install the add-on.
- Press the CREATE button
- Select any instrument with trading activity (i.e. with volume dots), along with the Volume Pressure algorithm.
- Press the start button
- A widget similar to below will appear, with seller pressure, buyer pressure, and threshold lines
We recommend reading this Quick Guide from the beginning to understand all other control elements.
Equally, if you prefer a hands-on approach you can just install the Market Pulse add-on and mess around with the settings yourself. If you get stuck, you can refer to the specific section you need help with.
Why does loading algorithms take so long?
- In the Bookmap Replay mode the widget waits for live data, so to start loading new data you need to unpause the replay. The load speed depends on the amount of data in the source instrument being used. If there are a lot of events (e.g. a few days or a week of data), it may take a long time for the algorithm to process it. It’s important to note that recalculations will be triggered if some configuration items such as the Half-life period are changed.
Is there a way to quickly switch between configurations?
I have 2 major configurations for different time intervals: from 1pm till 3pm I need to set one parameter, and from 3pm till 5pm I need to set a different parameter.
- Yes, absolutely! We recommend the following: first, create 2 widgets and name them “1-3pm” and “3-5pm” - read more about how to Name your widgets for help on this. Next, start both widgets and open the configuration panels by right-clicking on the widgets. This will allow you to compare the configurations and select the proper one for each. You will need to manually switch between widgets at 3pm, pausing one and starting the other.
What training period should I set?
- It depends on the instrument and your personal preference. To adjust the Training period, we suggest you look at the sub-chart line (specifically the number of spikes).
Example of wrongly configured training period:
The subchart line is too spiky (it is close to 100% most of the time):
The higher the value of the Training period parameter, the fewer spikes on the sub-chart line you will see. This means that the longer the Training Period, the bigger a market event will have to be for you to be notified, while shorter Training Periods will pick up on smaller market events.
Example: Let’s take the Volume Pressure algorithm example below - the half-life period is set to 5 min. You can see that the subchart with the 10 min training period is more stuck to the top, because it represents the dynamics of smaller time periods. Meanwhile, the 2hr training period sub-chart deviates more, and you will be notified only about bigger changes on the market.
What half-life period should I set?
- The higher this parameter, the bigger the impact of previous events.
To choose what period suits your trading best, you can configure two widgets with the same parameters except for the half-life parameter, and compare the subchart lines.
Example: Here we will use Volume Pressure. As you can see, the 10 second line is much more volatile compared to the 1 minute line.
We recommend using common intervals, such as 1s, 10s, 1min, 10min, and 1hr to get the most out of this parameter.
Note!
The more historical data you have, the higher the value of the the half-life period could be. It is useless setting a 1hr half-life period if you have only 2 hours-worth of data. If you’ve just recently subscribed to an instrument, you will be waiting for some time until the average value becomes stable.
Before this happens you will be seeing the average value growing, so sound notifications might have unexpected behaviour, being either too frequent or intensive, and we advise you disable them until enough data have been received to stabilize the average value.
How can I configure the threshold? How can a sub-chart line help me to do this?
The Threshold parameter defines the minimum threshold, which when crossed leads to a sound being played. It is a percentage value. The higher this parameter, the fewer sound notifications will be played.
Sub-chart buyers/sellers pressure (%) lines are commonly used to adjust the threshold and training period. They show the activity of buyers/sellers in the market separately, how much it is in comparison to the average trade activity.
On the widget, the threshold is visualized by tiny white lines, and when the value crosses this line you will get a sound notification. On the sub-chart line, the threshold is visualized by the line turning green or red, depending on who out of the sellers and buyers have more pressure.
Example: I want to be notified about 3 spikes during the timeframe (1h, 30m, 10min, etc) if the market has the same activity as previous. Here’s what I need to do.
- Open the Bookmap sub-chart
- Zoom out to the desired timeframe
- Start the sub-chart percentage lines (it is started by default):
- Go to the add-on configuration dialog
- Expand the corresponding widget panel
- Check the Sub-chart buyers pressure % and the Sub-chart sellers pressure %
- Adjust the Threshold slider to have your preffered number of spikes marked with the red or green colored line.
How can I change the sub-chart color?
The color of the indicator can be changed in the Bookmap sub-chart settings menu. Just click the line near the indicator name and a new window will pop up where you can select your preferred color.
Or for more options, click the color-picker icon on the right of the name and select any color from your screen.
How can I load custom sounds?
Custom sounds are not currently supported, but they are something we are actively working to bring to Market Pulse.
How can I load custom algorithms?
Custom algorithms are not currently supported, but they are something we are actively working to bring to Market Pulse.
How can I provide my feedback?
Please feel free to fill out a quick survey - we value any and all feedback, and are always trying to improve Market Pulse!
Volume Pressure survey link: https://bookmap.com/addons/market-pulse/volumePressureTP/survey
Price Change survey link: https://bookmap.com/addons/market-pulse/priceChange/survey
After one hour of using the add-on, you will be prompted to give feedbackWhere you will see a button in the configuration window. This button will open a pop-up panel over the main chart.
Answer options:
- I have already provided feedback: This panel will no longer appear.
- I will give my feedback later: The panel will appear after one hour of using the add-on.
- I don’t want to give feedback: This panel will no longer appear.
How can I improve performance?
Firstly, it’s important to notethat these methods of performance improvement may decrease the accuracy of some algorithms. Please contact support@bookmap.com to get more information on how to improve performance in your specific case.
You can decrease the load on your system by accumulating the events to process them in bunches. The accumulation period is controlled by the parameter in the “experimental configuration” file (default location is C:\Bookmap\addons\ market-pulse\experimental.json).
If the parameter is not set, the default accumulation period is 20ms (milliseconds). You can increase this to 50ms, 100ms, or 200ms to improve the performance of the Market Pulse add-on. Large values may lead to event queue overflow on a longer time-scale, so it’s recommended to use values in the range of 20ms to 500ms.
Example: {"eventLoopDelay":100}
After the file is modified, the add-on needs to be restarted. To do this, you need to go to the add-on configuration dialog, disable the add-on (uncheck the box), and then re-enable it.
How many algorithms are there in the Market Pulse add-on?
- There are currently only 2 : Volume Pressure and Price Change. However new algorithms will be added in the very near future, and we are working hard to expand our catalogue of algorithms substantially.
How much does the Market Pulse indicator cost?
The price is separate for each algorithm:
- There are 2 options to get Volume Pressure algorithm:
- It is available to purchase as part of the MBO Bundle in the Bookmap Marketplace.
- It is available to purchase separately in the Bookmap Marketplace.
- The Price Change algorithm is FREE to all users until March 31st, 2023
- The Spread Change algorithm is FREE to all users until April 30th, 2023
Installation
Known bugs and issues:
Coordinates of the settings popup are incorrect. When you enable the settings popup via right-clicking on the widget, the popup location is wrong. You need to move the widget and the location of the settings panel popup will be adjusted.
CPU consumption. It is pretty high currently, and we will decrease it in the future. We do not recommend turning on the add-on during trading sessions for now.
Reset/inherit/load the chart settings - this functionality is not stable, and we would ask you to avoid it for now. It will be fixed in the next release.
- Check out the Cost section and purchase the algorithms you need.
- Download the Market Pulse add-on
- Download and launch the latest Bookmap version (v7.3.0 b40 or higher required)
- Click the “Configure addons” icon to open the plugins configuration panel (or Settings → Configure addons)
- Click the “Add…” button and choose the previously downloaded “market-pulse-x.xx.jar”
- Choose “Market Pulse” and click “Load” in the “Entry point selection” window
- “Market Pulse” will appear in the list of available add-ons. Click on it to see the indicator’s settings, and then click on the checkbox to the left of the indicator’s name to activate/deactivate the add-on for all instruments
