Orderflow – General Settings
General settings — is a screen, where you can set up the most common behavior of the whole GoCharting platform.
Orderflow Tab
Orderflow Tab comprises of the fundamental controls required for any Orderflow analysis.
Auto Tick Mode & Tick Multiplier
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Orderflow analysis depends on the selection of the box height in terms of price which is used to cluster the historical and realtime ticks to generate orderflow signals.
- The classic definition of the box height is given by
Box Height = Tick Multiplier X Tick Size
For example, if the tick size of a symbol say Nifty 50 is 0.05 INR and we choose a tick multplier = 50, then the box height for all your Orderflow analysis is set at 2.5 INR
In the auto mode, the GoCharting algorithm uses a proprietary logic to determine the tick multplier which keeps changing as you pan the chart and load more data. Its main focus is to explain the basics of Orderflow for new beginners. Its main advantage is that it will auto adjust for every symbol and it will ensure you are able to view the cluster data conveniently.
However, if you are relying on this information to backtest and trade, we suggest you turn the Auto mode OFF and use a tick multplier of your choice as show below
We strongly suggest you use your own Tick Multplier and do not forget to turn OFF the auto mode when you are trading for more accurate results
GoCharting developement team
The default view is on AUTO tick multiplier mode. This means that an algorithm will decide the cluster box size using a tick multplier computed on the basis of your screen dimensions to make the underlying figures visible and readable
You can make the charts readable at lower tick multiplier levels by strecthing the price axis like below
The boxsize is important to track the level of underlying activity across price bands. Every trader has their own perspective around a default box size but we did put in a lot of effort to build the Auto mode
Format Volume & Lot Size:
When you are trading Futures on Orderflow, you may want to format the volume figures in terms of Lot Size. This control recalculates the data in terms of lot size
