How to Customize the Level 2 in ThinkorSwim

jhatch

New member
Hi,

I was wondering if there was a way to access the settings for level 2 to change things such as color etc? I was also wondering if its possible to add a script on level 2 that for example highlights of emphasizes in some way large orders on either side of the tape.

Thank you
 

jcga1981

Member
Hello, is there an indicator that transfers the information from level II? I am looking for an indicator to help me complement the av volume to confirm the strength or intention of the movement
 

Prison Mike

Member
@BenTen

Was wondering if it’s possible to pull data from level 2 and use it in a study?

Although I trade options I have been reading a lot about accumulation/distribution levels in forex. The idea would be to find market makers intent through level 2 data.

For instance, within a zone/level/consolidation study L2 would be aggregated to find if MM are buying/selling, so the trader will know which way the MM want to drive the price.

If I’m over complicating or there is a simpler solution/indicator it let me know.

Thanks
 

jcga1981

Member
Hello, I wanted to make a query ... I want to add to my scalping procedure the reading of level II ... when I see that the volume accumulates in the Ask, I interpret that the sellers want to raise the price so I go into call, in case That is the Bid where I see volume, I put put.
I am wanting to learn to read level II well on "on demand" and see what situation occurs in those explosive or constantly trending moments. My impression is that level II also does not give a clear impression of whether the sentiment of the asset is up or down. Am I doing a good reading of level II? Do you use level II?
Thank you
 

rad14733

Well-known member
VIP
Here is something to remember with regards to Thinkorswim... We can manipulate "Data" but we cannot manipulate the "Program" other than what settings are available under Settings > Application Settings... Members can keep asking about changes but that pretty much encapsulates the possibilities in a nutshell... "Data" would include what is displayed in Watchlists and on Charts, not the program code that controls the data... 💡
 

jeditron

New member
I'm wondering if you have a script to change the color of the LEVEL 2 table on ThinkorSwim, similar to what the professionals use, to make it easier to visually see the supply and demand for each price. The current dark blue light blue gradient doesn't serve its purpose for these aging eyes. I can't seem to find the solution anywhere on the net. Hopefully, you can solve this puzzle. Thanks
 

Vince Field

Member
How do you use level 2 to inform your trading decisions? What do you look for and what does that tell you about what is likely to happen with price action?

One thing I've seen is that if there is a big buyer sitting and waiting lower than the bid price, this is a bearish sign, as once that buyer is sold off, the price is likely to shoot down.. that support is gone.

Likewise, if there is a big seller sitting and waiting lower than the ask price (asking for a higher price than the ask), this is a bullish sign, as once this seller is bought off, the price is likely to shoot up.. that resistance is gone.
 
Does anyone know if it is possible to limits the number of rows and customize the colors on the exchange columns?
example during market hours level too on AAPL will go way beyond a whole monitor screen and you would have to scroll to see the bottom, however those bids and asks are actually pretty irrelevant considering how far a price distance they are and would like to only see maybe 10 rows and color them so it will be easier to spot the bid and or ask stacking
 

rad14733

Well-known member
VIP
Does anyone know if it is possible to limits the number of rows and customize the colors on the exchange columns?
example during market hours level too on AAPL will go way beyond a whole monitor screen and you would have to scroll to see the bottom, however those bids and asks are actually pretty irrelevant considering how far a price distance they are and would like to only see maybe 10 rows and color them so it will be easier to spot the bid and or ask stacking
No, unfortunately...
 

grammates

New member
Like this?

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