Official Indicators

TradingLite has crafted a number of unique, official indicators, to help aid in your trading decisions.

In this guide, we explore each one, and their respective options.


Open Interest

Note: Open Interest is only applicable to derivative markets. Open Interest does not exist within spot markets.

Overview:

Open Interest shows the value of all open positions within a derivatives based market.

If a new position (either long, or short) is entered, the Open Interest will increase by the value of the position.

If a position (either long, or short) is closed, the Open Interest will decrease by the value of the closed position.

TradingLite takes this data directly from the exchange.

Due to the varying frequency in which Open Interest data is published by exchanges, you may find on lower time frames (<15m) that Open Interest does not change. This is unfortunately beyond the control of TradingLite.

TL-OI-OpenInterest.png

Options:

You are able to select the style of the Open Interest candlestick as either ‘Solid’ or ‘Hollow


VPVR+

Overview:

Drawing inspiration from the traditional VPVR indicator, TradingLite’s VPVR+, provides additional data that is visually enhanced.

The first visual note is the colour of the row. Green indicates Market Buys were more dominant at that price point. Red indicated Market Sells were more dominant at that price point.

The value displayed within the row, shows the total number both, market buys and market sells.

The second visual note is the width of the brightest block. This shows the proportional dominance (or delta) of either the market buys or market sells - determined by the color. A large bright block shows strong dominance. If the bright block is very small, it shows that the dominance was weak.

The third visual note is the two duller blocks within the row. Once again determined by the color, these blocks show the degree of balance between the market buys and the market sells.

If the row colour is green, the dullest block visually shows the market sells. The two remaining blocks combined visually shows the market buys as a comparison.

If the row colour is red, the dullest block visually shows the market buys. The two remaining blocks combined visually shows the market sells as a comparison.

The image below may help to explain:

TL-OI-VPVR+.png

Options:
  • Align - Determines whether to display the VPVR+ on either the left, or right.
  • Width - Determines the overall width of VPVR+ as a percentage of your screen.
  • Ticks per Row - Determines how many price points are collected together to form each row of the VPVR+

Footprint (cluster)

Please see the quick-start and advanced guides explaining both the methodology and options for TradingLite Footprints.

Footprint (profile)

Please see the quick-start and advanced guides explaining both the methodology and options for TradingLite Footprints.


Main

Overview:

Traditional Candlestick Chart, providing the Open, High, Low, Close for the time-frame selected.

TL-OI-Main.png

Options:
  • Candle Mode - Select between ‘Solid’ and ‘Hollow’ to suit your preference.
  • Show Last Price Line - Checkbox to determine whether to display a dashed line showing the latest traded price

Volume

Overview:

⚠ TradingLite’s Volume indicator is different from the traditional volume indicator that you may be used to.

Rather than simply totalling the value of trades and matching the color of the candlestick, TradingLite’s volume indicator provides 3 distinct visualisations.

The first is the height of the volume. This is determined by totalling the market buys and market sells. This is the only similarity with a traditional volume indicator.

The second visualisation, is the color of the volume bar. Instead of matching the colour of the corresponding candlestick, the TradingLite Volume bar will perform a calculation to determine its color. Market buys and market sells are compared to determine, which was more dominant, within the time of the candlestick. This can result in a different color from the candlestick.

The third visualisation within the TradingLite Volume indicator is the Delta. This is a calculation of market buys - market sells. The delta is then shown as the bright bar within the total volume bar.

Volume-Buy.png

Volume-Sell.png

Options:
  • Show Delta Only - View the Delta of the TradingLite Volume only.

VPVR

Overview:

The traditional VPVR (Volume Profile Visible Range) indicator shows the volume of market buys and market sells at various price points, of the candles currently in view.

Within this profile is the ‘Value Area’, which is shown via a brighter highlight than the remainder of the VPVR. This ‘Value Area’ is where (by default), 70% of the total volume of all candles in view.

The ‘Point of Control’ (POC) quickly highlights the node with the highest volume, via a white ray.

TL-OI-VPVR.png

Options:
  • Align - Determines whether to display the VPVR+ on either the left, or right.
  • Width - Determines the overall width of VPVR+ as a percentage of your screen.
  • Ticks per Row - Determines how many price points are amalgamated together to form each row of the VPVR. Selecting a lower value will provide a more granular view, whilst selecting a higher value will group together a greater number of price points, reducing noise.
  • Show Value Area - Checkbox to toggle whether the ‘Value Area’ is distinguishable via highlight.
  • Show Point of Control - Checkbox to toggle whether the ‘Point of Control’ is distinguishable via a white ray.
  • Show Delta - Checkbox to toggle viewing each row of the profile as a delta, to determine whether the market buy or market sell pressure had greater dominance. If you prefer this view, we recommend that you consider TradingLite’s VPVR+.

VPSV

Overview:

Similar to VPVR, the VPSV (Volume Profile Session Range) indicator shows the volume of market buys and market sells at various price points, of the candles within each ‘session’. The time-frame selected will determine the duration of each ‘session’, and the resulting placement of the VPSV profile.

TL-OI-VPSV1.png

Here is a handy reference of time-frames and their respective ‘sessions’.

Time Frame Session Duration
1m 4 Hours
3m 4 Hours
5m 12 Hours
≥ 15m 24 Hours
Options:
  • Coming Soon: Show Value Area - Checkbox to toggle whether the ‘Value Area’ is distinguishable via highlight.
  • Show Point of Control - Checkbox to toggle whether the ‘Point of Control’ is distinguishable via a white ray.
  • Coming Soon: Extend Point of Control - Checkbox to toggle extend the ‘Point of Control’ beyond the ‘session’ it is referencing.

Heatmap

Please see the quick-start and advanced guide explaining both the methodology and options for TradingLite Heatmap.


Heatmap Lens

Overview:

The Heatmap Lens allows (on hovering and pause) a 'zoomed in' view the TradingLite Heatmap.

TL-OI-Lens1.png

Options:
  • Hold the 'shift' key on your keyboard to lock your position on the Heatmap horizontally.
  • Hold the 'ctrl/cmd' key on your keyboard to lock your position on the Heatmap vertically.
  • Press the 'L' key on your keyboard to quickly show/hide the Heatmap Lens.

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