X STUDY

From MarketsWiki

X_STUDY is a professional charting solution from Trading Technologies designed for professional traders.

According to TT, the evolution from open outcry to screen-based trading has blurred traditional lines between the independent software vendors (ISVs) who facilitate orders and the data vendors who disseminate the traded price information. The environment allows the opportunity to capture trade data directly from the execution stream, as opposed to a data vendor's consolidated ticker stream. Charts and decision-support tools demand executable quality prices to accurately analyze and generate trade decisions.^[1]

X_STUDY provides charting and analytics fully integrated into the TT software architecture.

A TT component known as the Financial Market Data Server (FMDS) captures time series data directly from the exchange feeds, then the X_STUDY charting component blends the historical time series from FMDS with continuous real-time updates from the TT price stream - the same price stream used for trade execution. The end result is:

Accurate historical data for prices and traded volume and
The price on the current bar on the X_STUDY chart is the same identical price as on the X_TRADER order entry screen.

Excel Linking

One can link current values of Technical Indicators and Trendlines out to Excel. Excel updates the values in real time as X_STUDY updates. One can also link support and resistance levels from Excel cells into X_STUDY to display horizontal lines that dyamically adjust to match spreadsheet levels. The level lines match the color of Excel cells for quick and easy indentification.

Unique Data Sets

Along with each trade, FMDS stores information about the trade. Data such as the current bid and offer at the time of the trade, and whether the trade is a buy or a sell, i.e., whether it occurred on the bid or on the offer, provides opportunities to develop price and volume analytics.

Innovative Volume Analysis

From this unique data set, X_STUDY offers volume analysis tools unavailable anywhere. Six different types of volume displays are provided. Display just the buys, or just the sells. Display a traditional total traded volume histogram, or overlay the Volume Delta (net buying versus selling) on top, color-coded for quick visual interpretation. The TT CVD Study displays a running total of net buying versus selling, providing a quantified view of distribution and accumulation for short - (or longer-) term swings. Volume at Price (VAP) display total volume traded at specific price levels via a horizontal histogram. The FMDS server supplies the VAP data based on the visible bars in the chart, so one can analyze the historical volume distribution for any time period desired.

True Spread Charts

Along with traditional Last-to-Last traded price comparisons, X_STUDY offers spread charts based on real-world market conditions. Spreads can be displayed as Bid-to-Bid, Ask-to-Ask comparisons to simulate realistic spread trading. X_STUDY spread charts are full-featured charts and offer all the same analysis functionality as outright instruments.

X_STUDY is included with X_TRADER at no additional cost.^[2]