Anyone have a use for bid/ask volume bars? (screenshot)

Discussion in 'Technical Analysis' started by 1a2b3cppp, Apr 4, 2013.

  1. This is a 1000 volume chart of the YM.

    These are cool looking but is there a use for them? They show you the percentage of trades placed at the bid vs. at the ask.

    I don't really see anything useful, for example, just because one candle was mostly filled at the bid does not mean the next one is likely to be. But maybe I'm missing it.

  2. If you use a time chart then a thicker bar = more volume, and color of the bar shows the percentage of bid vs ask.

    What does having this information allow you to do?

  3. interesting.. i don't know what it could give you but its an interesting way of looking at it.. what platform is that
  4. SierraChart. Bid ask volume bars is one of the chart types you can choose.
  5. ofthomas


    is that multicharts? I've only used TTFlow bars with CQG... so I didn't realize that MC has those bar types... must check it out to see if they are the same...

    anyhow, I like using the footprint but given I prefer CQG I use TTFLOW bars, that gives me a visual idea of what is going on with the level that I am looking to short/buy... and it is easy to see with it S/R aligning... at least to me... it provides me with concise information, quickly.. footprint at times is too much info with the prices though what I look for mostly is the extremes to make sure a price didn't go bid/ask if I am interested on that level...

    I don't trade YM, I focus on grain spreads, so here is what I would have done if I was trading it today... I would taken only two trades ... first @ 09:10AM CST short 14540 with a stop at 14560 with a target down to 14486 and the second @ 12:40 CST a long @ 14502 with a stop @ 14480 and target @ 14550 ...

    it is after the fact of course, but that would have been based on my areas of interest and the price action..

    <img src="" border="0" alt=""></img>
  6. ofthomas


    SC huh... I tried playing with it, didn't quite liked it... that is a shame, they are way lower cost than CQG...
  7. Lucrum


    I looked at them years ago when using Ensign I think it was. I never found any particular use or advantage to them.
  8. cornix


    Tried that too. But didn't notice any particular advantage. So went back to raw volume.