Sweeps
A Sweep in TradeFinder refers to the execution of one large order that can be traced back to one single market parcipant and rapidly moves through different price levels to take advantage of small price changes.
This trading strategy is employed by institutional or large-scale traders to efficiently fill their orders without significantly impacting the market price.
A Sweep is a single large market order. In this example someone bought 300 lots, which increased the price by two ticks.
Sweep Signals
Based on the values in the Sweep settings, which should be adjusted to fit the traded market, the Sweep signal is the output anytime a large market order is traded that can be traced back to only one market participant.
The example shows 2 sell Sweeps with 500 lots traded each and 1 buy Sweep with 421 lots traded
Stop Sweeps
A blue colored Sweep represents a single (large) Stop Order executed as a Sweep - it is a single Stop Order traced back to one single market participant with a larger amount of lots traded.
The example shows 1 blue colored Sweep: A single market participant that has been stopped out with 300 lots executed immediately
Orange colored Sweeps
In the system, the orange color signifies that the sweep event is still in progress, with the passive portion of the order yet to be fully processed. When this occurs, a line is displayed on the chart, representing the completion status of the passive part until the entire order is fulfilled.
The passive component of the sweep may be executed as either standard limit orders or iceberg orders, depending on the order type.
Additionally, 'T' indicates the total number of contracts traded in the sweep, such as 127 contracts. The 'R' label refers to the traded range in ticks, providing precise insights into the sweep's price range within the market.
The orange Sweep indicates the passive part of the order is not yet traded until it is completed.
Signal attributes
Generally a Sweep is executed with market orders. However, intelligent algorithms can give a part to the passive side to get a better average price. That's why we display several attributes in a Sweep signal on chart:
- R: Range or price change of the Sweep in ticks or pips
- A: Actively traded volume (market order)
- P: Passive traded volume (limit order)
The example shows a Sweep with total lot size of 421 consisting of 205 actively traded lots and 216 passively traded lots.
Settings
Sweep settings in TTW-MarketExplorer
- Enable Checkbox
- Enable the checkbox to enable Sweep Signals on the trading chart.
- Trigger Volume
- A single order needs to trigger this lot size (market volume) to qualify as a Sweep being displayed on chart.
- Trigger Volume Stop
- Stop Sweeps need to trigger this lot size (market volume) to qualify as a Stop Sweep being displayed on chart. Stop Sweeps are displayed with a blue colored Sweep signal.
- Price Range
- The price range in ticks/cents defines the minimum price range that must be swept through to trigger the alert.
- Design and Layout
- Click on the “Edit”-Button to change the design, symbol, color, transparency, layout, position on the chart, and size of the signals on the chart. If you choose the design style “professional”, you will get additional information about the Sweep signal.
- Alert Sound (Live Trading only, not available in Replay)
- The audio signal sounds when a sweep occurs and meets the defined conditions.
- Send Telegram Notifications (Live Trading only, not available in Replay)
- Enabled / Disabled allows you to notify the messenger service “Telegram”.
- Enable Bookmap Notifications (Live Trading only, not available in Replay)
- Enabled / Disabled activates the Sound Alerts in Bookmap.
Dotted Sweep Lines
The dotted sweep line appears from the moment a sweep becomes a passive order (limit order) and continues until that limit order is removed from the order book.
Once the sweep becomes a passive order the dotted lines appear
