What Is the Price Levels Indicator?
The Price Levels Indicator displays multiple price levels over a specific time interval. For example, you can plot the highest and lowest traded price from the last 5 minutes.
Each price level is configurable by percentage (from the high or low), name, and color.
Three price levels are plotted by default:
- Highest Price Level (100%) - The maximum traded price of an instrument over a specific period of time (red line on the above screenshot)
- Middle Price Level (50%) - The average of the maximum and minimum traded price over a specific period of time (yellow line on the above screenshot)
- Lowest Price Level (0%) - The minimum traded price of an instrument over a specific period of time (green line on the above screenshot)
How to Configure the Price Levels Indicator
To configure the Price Levels Indicator, open the API plugins configuration and select Price Levels.
The Enable Level checkbox allows you to show or hide any price level from the main chart window.
The Level Color setting allows you to choose a color for each price level.
The Scheduled Resets setting allow you to configure how and when price levels are reset.
There are two reset types:
To configure Scheduled Resets you must first enable the Schedule Resets… checkbox.
The AT Reset allows you to reset the price level at a fixed time each day. You can specify the time using the Hours-Minutes-Seconds input boxes.
After specifying the reset time, press the Apply button.
The above screenshot shows a reset time of 22:00:00 each day.
The above screenshot shows the price levels being reset at 22:00:00 on the main chart (heatmap disabled for clarity).
Alternatively, you can reset the price levels directly from the chart using the context menu.
- Right click on the price level at the time you want to reset
- Select the Set reset AT... option from the context menu
The price levels will now reset each day, at this time.
NOTE: The time is specified in your time zone and may be different from the time zone selected in Bookmap, your current time zone is displayed in the Scheduled resets configuration.
The EVERY Reset allows you to continually reset the price levels after a certain period of time (from the start of the day, when data was first loaded by Bookmap).
You can specify the exact time interval using the Hours-Minutes-Seconds input boxes.
After specifying the reset time interval, press the Apply button.
The above screenshot shows a reset interval of 5 minutes.
The above screenshot shows the price levels being reset every 5 minutes on the main chart (heatmap disabled for clarity).
Create Custom Level
In the Create Custom Level section, you can add custom levels to your main chart. To do this, enter a name for your level and press the Add custom level button.
A panel will appear with the settings for your new custom level.
The Level Name input box allows you to rename your custom price level.
Note: You can only rename custom levels. You can’t rename the default levels (Highest Price Level, Middle Price Level, and Lowest Price Level).
To rename your custom level:
- Input your new name in the Level name field
- Press the Apply button
The custom level name will then update in both the settings panel and on the main chart.
The Position slider allows you to change the position of your custom level, between the minimum and maximum traded price.
- 0% = Lowest Price Level
- 100% = Highest Price Level
The value of the level is calculated according to the weighted arithmetic mean formula:
x(t) = MaxTrade(t) * p + MinTrade(t) * (1 - p)
- x(t) = Price of the level at time t
- MaxTrade = Maximum traded price at interval t0 to t
- MinTrade = Minimum traded price at interval t0 to t
- p = percentage value
Note: Interval t0 to t can be the time from when Bookmap started receiving data, or the time after the last reset.
To change the level position:
- Drag the Position slider to the desired value
- Press the Apply button
The custom level position name will then update in both the settings panel and on the main chart.
The Delete Level button removes the level from the main chart and deletes the setting panel for this level.
Price Levels Indicator FAQ
Will my settings save across all instruments?
No. Settings need to be individually configured for each instrument.
How many custom levels can I create?
There's currently a limit of 10 custom levels.
How to Install the Price Levels Indicator
To install the Price Levels Indicator, please follow these steps:
- Download the Price Levels Indicator here
- Launch Bookmap version 7.3 (build 25) or higher
- Click the API plugins icon to open the API plugins configuration panel (or via the Settings Menu > API Plugins Configuration)
- In API plugins configuration, click the Add button and then select the price-levels-indicator-x.xx.jar file
- Choose Price Levels and click the Load button
- Activate the Price Levels Indicator by clicking on the checkbox near the indicator’s name