Cluster Settings

Modified on Fri, 27 Dec, 2024 at 10:44 AM

The cluster chart (footprint) can be viewed in different modes: Bid x Ask, Delta, Volume, Volume (Delta color), Delta Profile, and other cluster chart types.

1. To open it, click on the icon for chart settings.
2. Open the second tab - Cluster settings.

Clusters content

Content	Volume Trades Volume and trades Volume and delta Delta Delta (centered) Bid x Ask Bid/Ask (centered) Bid/Ask None
Mode	Full row Bid/Ask profile Volume profile Trades profile Delta profile Bid/Ask ladder Positive/Negative delta profile
Draw borders

Color scheme

Color scheme	Delta Solid Volume proportion Trades proportion Bid/Ask volume proportion Heatmap by volume Heatmap by trades Heatmap by delta None
Background of clusters
Main color
Bid Color
Ask Color
Heatmap
Upper cut-off, %	This parameter sets the upper limit for the maximum volume, determining the colors used to represent it. For example, if a 5% cut-off value is selected, the platform will assign the maximum color for the top 5% volume values.
Contrast

Additional footprint

Additional footprint - provides the settings options for the second footprint on the chart, enabling you to view clusters in two different modes simultaneously on a single chart.

Content
Mode
Color scheme
Draw borders
Background of clusters
Main color
Bid color
Ask color
Heatmap
Upper cut-off, %
Contrast
Maximum Volume Type
Border color
Border width
Text color
Bold Text

Outer border and direction indicator

Border Type	Body Candle None
Border color by direction	Color Line style Width
Border
Direction indicator width

Font

Show Text
Text color
Auto Size
Font size
Cluster values divider	It divides the cluster values by the entered value, enabling compact representations within the clusters.
Width to show text

Maximum Level

Maximum Volume Type	Volume Trades Bid Ask Negative Delta Positive Delta
Border color
Border width
Text color
Bold text

Value Area

Color

Proportion Settings

Mode	Bars - the proportion is based on the highest value among the loaded bars. The intensity of cluster shading is adjusted relative to the highest value. Visible area - the proportion is based on the highest value within the visible area of the chart. Whole chart - the proportion is based on the whole chart. Custom proportion value - this option enables you to set a cluster value as 100%, and the proportion will be calculated based on it.
Custom proportion value	To create histograms. Activated when manual proportion is selected.
Upper cut-off	This parameter sets the upper limit for the maximum volume, determining the colors used to represent it. For example, if a 5% cut-off value is selected, the platform will assign the maximum color for the top 5% volume values. This feature is compatible with the Delta, Volume Proportion and Trades Proportion color schemes.

Settings for the Bid/Ask Imbalance Mode

This feature enables automatic highlighting of market buy and sell imbalances within each specific spread. The imbalance value is determined as a percentage ratio of the compared volumes.

Enable
Bid Color
Ask Color
Imbalance Race
Volume filter
Minimum difference
Ignore zero values
Bold text

Unlike Delta that shows the standard view of the difference, Bid/Ask Imbalance allows you to automatically highlight the imbalance of market buys and sells in each specific spread.

It uses a variation and compares the bid traded volume of one price to the ask traded volume of the price located directly above. It then employs an algorithm that compares the ratio of volume between the two. The main goal is to automatically highlight imbalances between the volume traded at the price being offered and the volume traded at the price being bid. It always compares the bid price to the ask price above and shows a relative ratio.

For example, let s analyze the value of 30 ask and the value of the overweight of 350%, 350% of 30 = 105, in order for the cluster to be highlighted, the bid must be more than 105.

The imbalance value is calculated as a percentage of the compared volumes. This value is 150% by default, but if you increase it, e.g. up to 300%, a more substantial imbalance will be highlighted. To change the parameter, go to settings on the cluster chart, choose Cluster Settings tab and set the required Imbalance Rate value as shown in the picture.

Settings of the Bid/Ask Imbalance mode:

Enabled - enable/disable the mode
Bid color - select the color of the highlighted bids
Ask color - select the color of asks
Overweight, % - set the overweight value in percent

The optimal size of this parameter depends on the liquidity of the analyzed instrument and the time frame you have chosen for the chart.

Volume filter - set the minimum volume for highlighting Bid and Ask
Minimum difference - set the minimum difference between Bid and Ask
Ignore zero values

As a result of the calculation, the indicator highlights two numbers located diagonally:

1) If the lower price bid is higher by Imbalance Rate percent than the upper price ask, then the bid is highlighted in red.

2) If the upper price ask is higher by Imbalance Rate percent than the lower price bid, then the ask is highlighted in green.

Filters

Filter Type	Bid Ask Volume Trades Relative volume, % of max.vol. - enables you to specify the percentage of the maximum volume above which clusters will be highlighted. Relative trades, % of max.trades - enables you to set the percentage of the maximum number of trades above which clusters will be highlighted.
Value
Background
Text Color

For example, Relative Volume is set to 90. This means that all clusters whose volume is higher than 90% of the maximum volume visible on the chart (by default) will be highlighted. Depends on the settings selected in the Proportion settings.

Advanced

Custom Row Height

It is recommended to read other articles on this topic