I'm trying Sierra Chart for trading Bitcoin.
I would like to display relative spread for a given volume.
spread_rel = 200.0 * (ask - bid) / (bid + ask)
- where bid is bid price for a volume V
- and ask is ask price for a volume V
Ideally I would like to display it numerically and also to plot it
I ever saw Analysis / Studies / "Time and Sales Bid&Ask" but I think it's only for highest bid and lowest ask. Moreover it's an absolute difference... not a relative difference.
I first need to calculate bid and ask price for a given V volume using orderbook depth).
I also want to draw text on a chart.
and also plot this
it will help me a lot to understand how SC works.