Official Indicators

Create more informed trading decisions, by utilising the full suite of TradingLite's Official Indicators.

Content

Official Indicators

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

To browse and select one of TradingLite’s Official Indicators, navigate to:
Indicators > Official Indicators

🔬

In this guide, we explore each of TradingLite's Official Indicators in detail, and all their respective options.

Main

Main Overview

Main is the layer used to display price. In addition to traditional candles, TradingLite offers 7 additional alternative methods to display price, to suit your preference. Whilst Candles, Heiken Ashi, Line, Stepped Line, Area and Baseline are pictured below,

Footprint Cluster and Footprint Profile are shown and explained within the dedicated Footprint Basics and Footprint Advanced guides.

Loading...

Loading...

Main Selector

To select your preferred method to show price, use the selector in the top toolbar.

Here you also have the ability to favourite different methods to display price, for quick selection in future.

Main Options

Each choice for Main has its own unique options allowing further customisation.

To view and change these options navigate to: Chart Settings > Main > Advanced Settings


Open Interest

🔥

Open Interest is only applicable to futures/derivative markets.

Open Interest does not exist within spot markets.

OI Overview

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

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

OI Options

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

VPVR Plus

VPVR Plus Overview

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

🔥

VPVR Plus can be a little confusing on first glance, however, it's a very powerful tool when fully understood. Both a written, and visual guide, have been given below.


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

The first visual note is the colour of the row.

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 - shown by its color.

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.

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

The image below helps to visually explain:

VPVR Plus Options

VPVR Plus POC Options

As with all of TradingLite’s Profile Indicators, you have the option to enable, extend and style the POC.

💡

POC (or Point of Control) is an additional optional visual indicator that quickly highlights the node within the profile which had the greatest total value of buying & selling interaction.

VPVR

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.

💡

Value Area is where, 70% of the total volume occurred, of all candles in view. You can configure this 70% value within the VPVR options.

VPVR Options

VPVR POC Options

As with all of TradingLite’s Profile Indicators, you have the option to enable, extend and style the POC.

💡

POC (or Point of Control) is an additional optional visual indicator that quickly highlights the node within the profile which had the greatest total value of buying & selling interaction.


VPSV

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 candles within each session.

VPSV Primary Settings

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.
Align - Determines whether to display the VPSV on either the left, or right.
Width - Determines the overall width of VPSV as a percentage of the VPSV session range.
Ticks per Row - Determines how many price points are amalgamated together to form each row of the VPSV. 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.
Hide Values - Checkbox to toggle whether the values shown within the VPSV are shown.
Draw Background - Checkbox to toggle if a background to each VPSV profile is rendered.

VPSV Session Settings

Given that VPSV plots a profile for each session, TradingLite gives you the ability to specify from a variety of pre-set configured sessions. Below is an example of VPSV using the US Session Split.

Session Split - Determine the time or duration of each session:

UTC (Default)
US Session - 13:30 - 20:00 (UTC)
EU Session - 07:00 - 15:30 (UTC)
AZ Session - 23:00 - 07:00 (UTC)
2h
4h
8h
12h

VPSV Point of Control Settings

🔥

The Point of Control (also known as the POC) is defined as the row within each profile, in which the highest trading volume occurred.

POC

Disabled - Disables Point of Control.
Enable (Ray) - Renders Point of Control as a simple ray/line, at the centre of the highest value node.
Enable (Outline) - Renders Point of Control as an outlined box of the highest value node.
Enable (Ray + Outline) - Renders Point of Control as both a simple ray in addition to an outlined box of the highest value node.

POC Extend

Note: The Extend option is only displayed if you have enabled the POC.

Not extended - POC will extend to the respective width of it's session.
Simple Extension (Doubled) - POC will extend to the end of the following session. Note, if Enable (Outline) is selected, a ray will instead extend to the end of the following session.
Naked Extension - POC will extend indefinately, until the a subsequent session in which price would revist this defined POC.

VPSV Value Area Settings

🔥

The Value Area defined as the range in which the majority of volume was traded. By default, the Value Area is set to 70% (although this is configurable within the VPSV options - 68% is also another popular choice).

Enable - Toggle to enable the render of the Value Area within each session.
Draw Rays - Toggling this on, will render rays at both the VAH (Value Area High) and the VAL (Value Area Low).

Note: If Draw Rays is not toggled, the Value Area will still be defined by the rows within the profile that are visually brighter.

Value Area - Defines the percentage of the profile in which the Value Area is calculated.
Extend Rays - Determines whether the Value Area Rays are extended to the end of the following session.
Hide Labels - Toggle to enable or disable the text labels for VAH (Value Area High) and VAL (Value Area Low).


Volume

Volume Overview

🔥

TradingLite’s Volume indicator is different from traditional volume indicators that you may be used to. Within the info label, you see the value of Buys , Sells, ∆ Delta, Σ Total/Sum, for each period

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

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.

The total of 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.

Counters

Counter Books

The Counter Books indicator, shows the number of changes within the orderbook, that have taken place within each candle's life.

You'll notice at the start of a new candle, its value resets to zero.

Counter Trades

The Counter Trades indicator, shows the number of trades that have taken place within each candle's life.

You'll notice at the start of a new candle, its value resets to zero.

Heatmap

Please see the Heatmap Basics and Heatmap Advanced guide explaining both the methodology and options for TradingLite Heatmap.

Loading...

Loading...

Footprint Profile & Cluster

Please see the Footprint Basics and Footprint Advanced guides explaining both the methodology and options for TradingLite Footprint Cluster.