December 20, 2023
1 minute learn
The latest announcement by Upstox, one among India’s main brokerages, about offering free Tick-by-Tick (TBT) charting data to its prospects marks a groundbreaking shift within the buying and selling panorama. Upstox’s new initiative to supply TBT(Tick By Tick) data-based charts without spending a dime democratizes entry to high-quality institutional-grade real-time information. Historically, such information was the protect of elite establishments with deep pockets. Now, retail merchants can commerce with the identical high quality of knowledge as top-tier monetary establishments.
Types of Datafeed utilized by Traders
Level 1 Datafeed: Mostly Provided by Datafeed Vendors and Web Based Charting/Backtesting Platforms like Tradingview
Level 2 Datafeed: The majority of Indian brokerage corporations present Level 2 feeds to their customers with as much as 5 Top Bid x 5 Top Ask order depth ranges.
Level 3 Datafeed: Few Brokers and Premium Data Vendors like Bloomberg present Level 2 feeds with orderbook depth as much as 20 ranges.
Tick by Tick Feeds: High-frequency merchants and the one and solely dealer providing TBT feeds is Upstox
Importance of Tick-by-Tick Data from a Charting Perspective
high-frequency buying and selling corporations make the most of the TBT feeds. Currently, Upstox provides this information to their charting platform shoppers which reinforces the integrity of OHLC (Open, High, Low, Close) bars on charts. Each bar in a TBT chart precisely displays the whole vary of market exercise inside a given timeframe, not like Snapshot charts which will miss important intra-bar value actions.
Snapshot Data: The Traditional Approach
Snapshot information captures market information at periodic intervals. While helpful for a normal market overview, it lacks the depth and immediacy of TBT information, providing only a glimpse quite than the whole image.
Due to its aggregated nature, Snapshot information can result in inaccuracies in charting. These inaccuracies would possibly have an effect on essential buying and selling choices, particularly in price-sensitive methods.
TBT vs Snapshot: A Paradigm Shift
Upstox shift from Snapshot to TBT charting is not only a technological improve; it is a paradigm shift in how market information is consumed and utilized. With TBT, merchants achieve a microscopic view of market actions, permitting for a extra exact and nuanced evaluation.
For intraday merchants, TBT feeds present a extra dependable, correct, and complete market view, important for making knowledgeable buying and selling choices. As the panorama of buying and selling information evolves, the significance of real-time, granular information turns into ever extra obvious, and TBT feeds are on the forefront of this variation.
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