Support Board
Date/Time: Fri, 14 Mar 2025 19:13:29 +0000
Confused about the definition of the market depth historical graph
View Count: 561
| [2022-06-24 09:16:34] |
| User803115 - Posts: 4 |
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Hi, I'm trying to learn how to use the market depth historical graph and I'm stuck at the definition. This image (https://www.sierrachart.com/images/MarketDepthHistoricalGraph.png) from the documentation says that each "rectangle is shaded relative to the maximum market depth quantity at the price level, which occurred during the timeframe of the chart bar." Does "maximum market depth quantity" mean contracts traded? And why are there shaded rectangles higher than the high and others lower than the low of each bar if the rectangles only refer to the price levels that occur during each bar? Also, what do the different colors (yellow and blue) mean? Thank you. |
| [2022-06-24 09:24:36] |
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No market depth data does not involve trades that have occurred. This is limit order data only. You need to refer to the Input settings which controls colors to understand them better: Market Depth Historical Graph: Study Inputs Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-06-24 13:40:40] |
| John - SC Support - Posts: 38669 |
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Also refer to the Block Coloring Logic section which may help you understand how the blocks are colored: Market Depth Historical Graph: Block Coloring Logic For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-06-24 14:57:47] |
| User803115 - Posts: 4 |
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What do the "depth value" and the "greatest range" mean here? "This is the maximum intensity color that is used for price levels at which the Ask quantity is greater than the Bid quantity and the depth value as a percentage of the greatest range is greater than the last percentage entered in the Percent Color Thresholds." |
| [2022-06-24 15:51:14] |
| John - SC Support - Posts: 38669 |
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That is the Range 3 Max Ask Color. This is the color that is applied to the highest Ask value. The definition of the Highest Ask Value, however, depends on a number of settings, but in general, it is going to be the largest value among all the numbers in the chart. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-06-24 16:02:27] |
| User803115 - Posts: 4 |
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That is the Range 3 Max Ask Color.
This is the color that is applied to the highest Ask value. The definition of the Highest Ask Value, however, depends on a number of settings, but in general, it is going to be the largest value among all the numbers in the chart. So the "greatest range" refers to the Highest Ask which itself is the highest ask value in the chart not in the bar? |
| [2022-06-24 16:08:52] |
| John - SC Support - Posts: 38669 |
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In general, yes. But as mentioned, there are a lot of options that can be changed to control the highest ask value. For instance, there is an Input for Determine Min and Max Levels From where you can set the highest value to be defined for the entire chart, just the visible portion of the chart, each trading day, or each session (day v evening). Also, you can define a highest value directly, above which all values are colored the highest color, or you can define a percentage of the maximum. All of these are covered in the Inputs for the study here: Market Depth Historical Graph: Study Inputs For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
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