Instantly analyse a stock's open order book and identify developing trends early with Spark's unique depth tools
In addition to displaying a standard depth table, Spark visualises the open order book by plotting each buy and sell order on a depth chart.
As orders flow in and out of the market and trading occurs, the depth charts automatically update. These changes are animated, drawing your attention to the changes taking place.
The market at a glance
The market depth charts allow you to analyse a stock's trading position more quickly than table depth data.
The price bars height and distrbution provide a clear indication of the current supply/demand in the order book. Furthermore, the day's trading range is highlighted in the chart background, enabling you to compare the current depth in relation to the trades already executed.
Replay the market
With the depth replay functions you can "rewind" the market, and view the order book as it was at any point in time within the last 30 days.
You can then choose to replay all the trading activity from that point, at varying speeds, or step through each order book event one at a time.
This powerful feature enables you to deeply analyse a stock's recent trading behaviour, and reduces the need to constantly watch stocks in real-time.
Spark's market depth tools significantly increase your understanding of a stock's trading patterns. Specifically, it can help to identify:
- Short term momentum shifts
- Support/Resistance levels
- Presence of algorithmic trading
- Execution quality/performance
- Market manipulation
Auction price indicator
When a stock's bid and offer prices overlap, Spark indicates the anticipated auction price and volume by placing a blue bar in the depth chart.
The auction price indicator updates in real-time in response to changes in the overlapped depth queues.
The order age option highlights orders in the depth queue that have been entered into the market after a specified period or time. Very useful for identifying trend reversals.