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World's first multi-asset Orderflow charting and trading platform on the web (Stocks, Futures, Options and Crypto) Discord: https://t.co/NqkiISQoFE
Prasanth Reddy Profile picture A.S. SAXENA Profile picture 2 added to My Authors
1 Oct 20
[1/X] Attempt to explain Imbalance Chart to a 10 year old
You want into an air conditioner (AC) in the peak summers.. the shopkeeper tells you that the price of the AC is 35 k, which you think is expensive.. this price of 35k which the shopkeeper quoted is Ask Price
[2/X] Since you feel the ask/offer price by the shopkeeper is high, you tell him that you can pay 30 k for the AC.. this price quoted by you is the Bid Price

Now one of you (shopkeeper or you) has to accommodate for the sale of the AC. This is an Auction
[3/X] Since it is peak summer and the demand is high, the shopkeeper isn't budging..so you go ahead and buy the ac at his offer/ask price.. this is called Lifting the Offer
Read 14 tweets
29 Sep 20
[1/X] Introducing Imbalance Charts in GoCharting

Imbalance is a special variation of the Footprint chart that highlights aggressive buying and selling (some market participants manifested aggressive behavior)
[2/X] Imbalance compares bids and asks diagonally and shows a significant excess of one over the other. That is, a bid is compared with an ask, which is one level higher, and an ask is compared with a bid, which is one level lower.
[3/X] The bar in the picture above shows how aggressive sellers entered the market and pushed the price at each price level. Such an aggression, as a rule, results in price reduction.

The yellow highligted cells reflect such aggressive behaviour on the buy and sell sides
Read 4 tweets
25 Sep 20
[1/X]

Basics of Auction and Profile Distribution - terms like Market Profile and Volume Profile simplified

What is Profile Distribution?

Distribution is the process of trading activity that takes place in the market auction. Some also know it by a consolidation or range.
[2/X]

A Distribution tends to define the fairest area/ price where the current auction has been taking place.
However, during some trading sessions, after the market forms a distribution around a certain fair price/ value, something changes.....
[3/X]

It could be anything - some big money stepping in deeming the price to be auctioning below value, news, event ,etc.. we don't know that and it doesn't matter.. what we are interested in is what happens after....
Read 7 tweets
25 Sep 20
We have now released an important Orderflow Indicator called the Bar Statistics

A Bar Statistics provides a tabular view of the important Orderflow metrics at a candle level in a time series format while each of the footprint provides a cohort view of the similiar metrics Image
To activate this particular indicator, please choose Bar Statistics from Inidcators menu on the top bar under Orderflow section

#Orderflow #Footprint #Cluster #NSE Image
The Bar Statistics indicator in GoCharting is fully loaded with 21 Orderflow metrics to choose from (no kidding!!!)

Will try our best to explain each one of them. We may go crazy in the future and add more to this list Image
Read 4 tweets
24 Sep 20
The next version of the Orderflow Module is now released on Beta

More Indicators

More Options

More Customizations

More Analytics....

Follow this thread along..... on the updates
First Important Change - Now you can manually set the size of the cluster boxes using the Tick Multiplier Parameter under Settings Tab.

What it means?

Now Cluster Boxsize = TickSize X Multiplier

If Nifty Tick = 0.5 INR and Multilplier = 3

Boxsize = 0.5 X 3 = 1.5 INR Image
[3/X] The default view is on AUTO tick multiplier mode. This means that an algorithm will decide the cluster box size using a tick multplier computed on the basis of your screen dimensions to make the underlying figures visible and readable

See the difference between below ImageImage
Read 7 tweets
22 Sep 20
[1/X] Attempt to explain Orderflow basics. It will be a long thread but will try to make the content worth the read.

Below is a Depth of Market (DOM). The
Blue ones = Bid Limit orders
Red ones = Ask Limit orders

So what happens to these orders in the trade cycle

#Basics Image
[2/X] Such limit orders are invariable absorbed by the Market Orders.

It is the Market Orders that drive the markets up and down.

Lesson # 1: Every auction starts with a Bid and an Ask
Lesson # 2: Market orders move the price
[3/X] So how do we track these market orders. We track them on the Footprint aka Cluster charts

GREEN = Buy Market Orders
RED = SELL Market Orders

Market Orders indicate Aggresiveness Image
Read 18 tweets
23 Aug 20
The Rabbit Hole is Deep. 🐇

Screenshots from some massive improvements to Market and Volume Profile coming up very soon

1. Customizations on steoirds
2. Auto Pattern Recognition - Poor High / Poor Low etc.

Will start a thread...

#MarketProfile #VolumeProfile ImageImageImage
1. Auto Recognition of Patterns

What is Poor High/Poor Low?

Poor low and Poor High are market profile structure which generally indicates a market that is too long or too short and the shorter timeframe players in the market has low confidence about the current market direction
...and takes control of market to move it in opposite direction. Generally happens when the market is continuing its trend in one direction and the momentum of the trend starts loosing at the peaks which makes the shorter timeframe traders to think that market is toolong/short
Read 9 tweets
8 Aug 20
Point and Figure Charts now come with built-in Bullish and Bearish pattern recognition

🚀Double Top
🚀Double Bottom
🚀Triple Top
🚀Triple Bottom
🚀High Pole
🚀Low Pole
🚀Significant Column

Go to Appearance tab and activate the patterns

#pnf #patterns #charting #pointfigure
Bullish Double Top and Bottom
Triple Top and Triple Bottom
Read 4 tweets
24 Jul 20
Indicator on Indicator (beta) -

Another premium feature in other popular platforms is now available for FREE in GoCharting.

Please follow the steps in this thread

#premium #indicators #charting #advanced Image
Click on the Indicator series legend and select "Add Indicator" option Image
A new Indicator selection menu will appear to choose from Image
Read 5 tweets
1 Jun 20
Happy to announce partnership with Binance to bring live trading off GoCharting Charts

We support both Spot and Futures trading on Binance. Its a forever FREE feature

Order Types: Limit/Market/Stop/Stop Limit.

Steps given below...

#binance #trading #charts Image
1/3

Connect to Binance: Image
2/3

Place Orders through Order Panels: Image
Read 4 tweets
15 Mar 20
Happy to announce our partnership with @DeribitExchange to bring live trading on and futures directly through GoCharting

Volume Profile, Market Profile Charts
Renko, Range Bar Charts
one-click mouse API Trading
...

gocharting.com/terminal?ticke…
Step 1: Go to the Gocharting AppStore (Right Panel) Image
Step 2: Choose Deribit from the store and enter your API Key and Secret Image
Read 4 tweets
9 Feb 20
Release updates from the week ***

Update # 1

1. Every chart object name on Layers tab is now editable

2. Simple color codes to help manage your chart objects

Update # 2

Now place your Anchor VWAP on any candle of your choice directly from the chart



@ST_PYI
@ST_PYI Update #3

Market and connection status now visible on the chart Image
Read 5 tweets
28 Nov 19
Scale ratio is now available on GoCharting

We understand the importance of precision in the technical analysis and added the ability to set the exact price and time scale ratio Image
How do you set the exact scale ratio?

Go to settings tab under Axes Image
The value defines what price change corresponds to the bar width. Image
Read 4 tweets
20 Oct 19
Introducing the most advanced Renko charts on the web
1. Classic Renko
2. Median Renko
3. Geometric Renko
4. Turbo Renko
5. Advanced Renko

Starting a thread only on Renko

@SignalFi_ @flunkimoku @ColdBloodShill
Read 9 tweets
10 Oct 19
Starting a thread to explain the new DOM Price Ladder Chart in GoCharting- the best on the web Image
1. The Chart comes with five built-in views Image
2. The Standard View is what we all are familiar with - comprising of the Bids and Asks on a Ladder Image
Read 7 tweets
7 Oct 19
Saving your charts on the cloud is officially live in GoCharting now. Starting a thread on this topic
#clouds #aws #charts #gocharting Image
There is no cap or restrictions on the number of charts you can save on the cloud. So go nuts!!!
The feature is in alpha stage. Please report issues if you face any. Feedback is most welcome.

PS: Auto save will be enabled in a few days once we see the basic functionality stabilize
Read 4 tweets
2 Aug 19
On track to deploy further enhancements over the weekend based on beta user feedbacks.

#beta
Bar Countdown has been added
Contributor: @syNTHETICC_ @ShowerheadATW

PS: We may later change the position of the counter in the future ImageImage
@syNTHETICC_ @ShowerheadATW Price format fixed even for very low denomination coins

Contributor: @ThisIsCryptoDE

gocharting.com/screenshots/RV…
Read 10 tweets
25 Jul 19
A ton of new enhancements based on feedback received from all closed Beta users will go for a weekend deployment
#gocharting #beta #charting 🙏🙏
All enhancement have now been deployed
Fibonacci Extension drawing tool added
Contributor: @Crumbs_Social @ThisIsCryptoDE

gocharting.com/screenshots/H6…
Read 23 tweets