EFS for Trading Success

EFS Featured Studies of the Month: BidAskSize and BidAskVolume

The EFS library is full of new and useful strategies you can use for free in eSignal.
This month, we feature a study that displays the most recent bid / trade / ask size, relative size and price. We also feature a similar study that tracks volume traded at the bid and ask and inside the bid / ask spread.

BidAskSize

This displays the most recent bid / trade / ask size, relative size and price.

This formula requires build 606 or higher. In addition to size and price, the text color of the trade bar's (middle bar’s) labels change to green if the trade price was at the ask or higher. If the trade price was at the bid or lower, the text color will change to red. If the trade was inside the most recent bid / ask prices, the text color will be white. The three bars also display their relative size as a percentage of the sum of the most recent bid + trade + ask sizes.

Download the BidAskSize EFS study

BidAskVolume

This tracks volume traded at the bid and ask and inside the bid / ask spread. It displays the volume in three histograms, green (ask), red (bid) and black (inside).

When the formula is first applied to the chart, no volume information will be displayed. The formula will then begin collecting data as trades occur and display the data in real time going forward.

Download the BidAskVolume EFS study

Resources for EFS

• To access other EFS studies, visit the EFS Library (wait a few seconds for the Most Popular Articles listing to appear).
• For detailed tutorials on EFS, including how to implement EFS studies within eSignal, visit the Help Guides and Tutorials section of the EFS KnowledgeBase.