Trading Reference Links
As I understand it, the term "market depth" is used to describe the "depth"
of buyers and sellers of a stock
in the marketplace at any one time. Typically "market depth" details buy and
sell orders including the share quantity of each order and price. In a
nutshell, it tells the trader what buyers and sellers of a stock there are
in the market, how many shares they want to buy or sell, and at what price.
In Australia the info is provided by the ASX to brokers and some data
vendors. Market depth is very useful when a trader is about to make a
trade...the depth of market info can assist in executing a trade quickly and
also in buying at the low of the day or selling at the high.
You mentioned volume in your last post.....I use Metastock 6 and receive
data from a vendor which provides open,high,low,close,volume. The data is
converted to Metastock format via the Downloader without any problems.
Data vendors in Australia which provide end of day data and also sell
Metastock are: E.I.S. in Brisbane and Research Technology in Sydney. There
are some other smaller vendors around too.
Hope this helps.
At 07:59 23-12-97 +1000, you wrote:
>Thanks to all those who replied to my question.
>It seems putting in the data every 5 minutes would emulate a real time
>version, but with the "false date" problem.
>Surely MS can have the volume of shares (ie total number of shares
>bought/sold that day) as part of the data?
>(I'm not quite sure why I would need to do this yet, but was wondering
>about the capabilities of MS.)
>PS.. I'm still getting used to the terminology so pls excuse any
>apparently stupid questions :-(
>>From: Richard Estes
>>Cc: Pugsley, Craig; Metastock-list@xxxxxxxxxxxxx
>>Subject: Re: Metastock and market depth?
>>Date: Monday, 22 December 1997 5:51PM
>>Close data only eliminates a vast majority of the indicators, I use.
>>lack of time values would throw you for a loop. At 96 data points per
>>with 5 min data, you would quickly get to year 2000. As you say "it is
>>worth it. It is more of a novelty." But since the program seems to
>>dates like what to load, what to display, I can't picture what you
>>get. I don't need it.
>>But the answer to our friend downunder remains, no it is a end of day
>>program not real time.
>> -----Original Message-----
>>From: Harley Meyer <meyer@xxxxxxxxxxx>
>>To: Richard Estes <restes@xxxxxxxxx>
>>Cc: Pugsley, Craig <CPugsley@xxxxxxxxxxxxxxxxxxxxxxx>;
>>Date: Monday, December 22, 1997 12:31 AM
>>Subject: Re: Metastock and market depth?
>>>MS6.5 will handle any single link, like close or tick, etc. It will
>>>handle open,high,low,close for a bar chart or candlesticks.
>>>Think of date or time as more of a place holder that is unimportant.
>>>you OLE 5 minute close into MS you get a line that updates as long as
>>>Excel updates. Even though at the bottom of the original window you
>>>would have days. The OLE is independent and will be in 5 min intervals
>>>for this example.
>>>You can use any indicator that would use the close. Like Bollinger
>>>There is not much to show as far as a chart. It looks just like any
>>>other line that gets plotted in MS.
>>>I hope this answered your question. I have used this occasionally for
>>>charting. The only draw back is having to have Excel open and we all
>>>know that you starting opening too many applications and the computer
>>>will run out of memory. CRASH. I have a Pentium Laptop with 40 megs of
>>>ram. Also you can't use bars or candlesticks in RT so it is not worth
>>>it. It is more of a novelty.
>>>I will say though when Equis releases the MS RT version it should be
>>>pretty neat since the Expert Adviser can be used in RT as well.
>>>If a person just wants the analyze intraday data, they could import it
>>>through the downloader as well. Forget about the data in terms of
>>>usefulness make up a data and just remember it is in 1 minute
>>>You can compress it once it is in MS.
>>>Richard Estes wrote:
>>>> Can you? you mean I can take RT 5 minute or tick data and put it in
>>>> and be able to use it? Do you have a chart you can show, I would
>>>> to see
>>>> that. How does date function work?
>>>> Richard Estes
>>>> -----Original Message-----
>>>> From: Harley Meyer <meyer@xxxxxxxxxxx>
>>>> To: Pugsley, Craig <CPugsley@xxxxxxxxxxxxxxxxxxxxxxx>
>>>> Cc: Metastock-list@xxxxxxxxxxxxx <Metastock-list@xxxxxxxxxxxxx>
>>>> Date: Sunday, December 21, 1997 11:19 PM
>>>> Subject: Re: Metastock and market depth?
>>>> >If you have MS 6.5 and Microsoft Excel you can OLE link any type of
>>>> >into MS.
>>>> >Pugsley, Craig wrote:
>>>> >> Hello Again,
>>>> >> Can someone please help me out with this question..
>>>> >> >I am wondering if Metastock is capable of using market depth..
>>>> >> >i.e. each individual transaction during a day's trading at the
>>>> >> >exchange,
>>>> >> >or is the "depth" limited to the volume of shares traded that
>>>> >> Thanks,
>>>> >> Craig.