Interactive Brokers adds new Pivot Point studies to TWS charts
The broker has added five new Pivot Point studies to the interactive charts in the TWS platform.
Online trading services provider Interactive Brokers Group, Inc. (IEX:IBKR) continues to enhance the capabilities of its TWS platform. The novelties in the latest (beta) version of the platform include new Pivot Point studies and more period selections available in charts.
For starters, the company has added five new Pivot Point studies to its interactive charts:
- Camarilla Pivot Points;
- DeMark Pivot Points;
- Fibonacci Pivot Points;
- Floor Pivot Points;
- Woodie Pivot Points.
Pivot points highlight prices considered to be a likely turning point when looking at values from a previous period, either daily, weekly, quarterly or annually. Each pivot point study has its own characteristics on how these points are calculated.
Moreover, the broker added a new “Period” selector with additional pivot point periods, including weekly, monthly, quarterly, yearly and auto period selections.
- Day – the previous trading day, starting with the first trade of the day and ending with the last trade of the day.
- Week – The previous trading week, starting with the first trade of that week (generally Monday) and ending with the last trade of that week (generally Friday).
- Month – The previous calendar month, starting with the first trade of that month and ending with the last trade of that month.
- Quarter – The previous calendar quarter, with quarters defined as: Jan 1 – March 31; April 1 – June 30; July 1 – September 30; October 1 – December 31.
- Year – The previous calendar year, from January 1 – December 31.
- Auto – Detects the time period of the chart (daily/weekly/monthly/quarterly) and selects a period based on the time period of the chart.
To add studies to one’s charts, traders have to select Studies from a chart’s Edit menu.
The latest (beta) version of TWS also enables increasing trading speed by creating custom Market Depth Trader order buttons. These buttons are available for all instruments, for a specific asset type, or even for a specific instrument.
Buttons are accessible from the Buttons: Set pick list in the Market Depth Trader Buttons panel. To create custom buttons, traders have to start in the Buttons section of Market Depth Trader Global Configuration. First create a new Button set, and then add one or multiple buttons to the set.