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 one, and 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.

TL-Main-Final

‘Main’ Selector

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

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

OI 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.

Open-Interest
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


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

  1. 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.
  1. 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.

  2. 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 helps to visually explain:

TL-OI-VPVR+.png

VPVR Plus Options

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

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 value of buy / sell interaction.

  • Enable - Enables POC
  • Extend - Extends the POC beyond the default width
  • Color - Customise the color and transparency of the POC.

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. This ‘Value Area’ is where (by default), 70% of the total volume, of all candles in view.

VPVR

VPVR 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 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 Plus.

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 value of buy / sell interaction.

  • Enable - Enables POC
  • Extend - Extends the POC beyond the default width
  • Color - Customise the color and transparency of the POC.
  • Show Point of Control - Checkbox to toggle whether the ‘Point of Control’ is distinguishable via a white ray.

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 the candles within each ‘session’. The time-frame selected will determine the duration of each ‘session’, and the resulting placement of the VPSV profile.

VPSV

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

VPSV Options

  • Width - Determines the overall width of VPSV as a percentage of the VPSV session range.
  • Placement - Determines whether to display the VPSV on either the left, or right.
  • 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.
  • Show Value Area - Checkbox to toggle whether the ‘Value Area’ is distinguishable via highlight.
  • 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.

VPSV 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 value of buy / sell interaction.

  • Enable - Enables POC
  • Extend - Extends the POC beyond the default width
  • Color - Customise the color and transparency of the POC.

Volume

Volume Overview

⚠️ TradingLite’s Volume indicator is different from the traditional volume indicator 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:

Volume

  • 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.


Heatmap

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


Footprint (cluster)

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


Footprint (profile)

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