Sierra Charts has the ability to show open buy limit and sell limit orders in a very useful visual chart. When you start tracking the changes of movement of open orders, you begin to get a crystal clear lens into market movement and true “order flow”.
I personally use this chart a lot for my trade entries and placing my limit order.
The “heatmap” is actually called “Market Depth Historical Graph” on Sierra charts.
Here is some information to help you get started using the heatmap with Sierra Charts:
1) Adding the Heatmap on your chart for the first time only:
Please note: if you follow this process, you will be walked through step by step, including video instructions.
- Step 1: Go to dashboard here, and open “Trading Account & Software Setup”
- Step 2: Scroll down to “Sierra Chartbooks – Template Files” heading
- Step 3: Read “Understanding Chartbooks” section FIRST
- Step 4: Click “Download TRADEPRO Chartbooks Here”
- Step 5: Read all the information and watch the video BEFORE downloading the template files
- Step 6: Follow instructions to open chartbook in Sierra
At this point, you have fully loaded the entire TRADEPRO chartbook to your Sierra.
2) My heatmap settings are not correct – I need to fix them
If you are not seeing
2) Adding the Heatmap only on your existing chartbook
If you just want to add one single chart (like the heatmap) from our setup to your own chartbook, follow the steps below:
- Open your own chartbook (where you want to add just the heatmap)
- Open the TRADEPRO chartbook (one you just downloaded)
