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Open Feature request MC-1817

Add option to use bid/ask-midprice as trade-tick for FX datasources

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Description

Currently some FX datasources use the bid price as a trade tick (like lmax) and some use the mid-price (like Oanda). Some have the option to generate a trade-tick for both a bid and an ask tick.

I am suggesting to consistently use the bid/ask-midprice for generating trade-ticks across fx datasources (like MC is already doing in the DOM-window for all datasources). Or have an option on the datasource level to do this.

This would make it easier to compare quotes/charts across providers, especially on a short timeframe and during economic releases, when the bid/ask spreads can widen substantially. The midpoint price would be the more logical choice, instead of arbitrarily choosing bid/ask for different services.

This functionaliy would also be useful for other asset classes, like for example deep out of the money options that trade only infrequently but are still quoted, or many bond issues.

Steps to reproduce this issue

see above

Comments (1)
#0
user-offline.png  Guest (Guest)
Jan 15, 2015 - 01:40

This is a very important option for spot forex as last traded price means very little as it is only representative of trades placed with one particular provider. Mid-price however is a much more realistic representation of "true value" because most brokers have multiple liquidity providers including multiple large banks who are all streaming their quotes to said broker.

History
Issue basics
  • Type of issue
    Feature request
  • Category
    Usability
  • Targeted for
    MultiCharts 10.0 (RELEASED)
  • Status
    Partially Implemented
User pain
  • Type of bug
    Not triaged
  • Likelihood
    Not triaged
  • Effect
    Not triaged
Affected by this issue (2)
People involved
Times and dates
  • Posted at
  • Last updated
Issue details
  • Resolution
    Not determined
  • Severity
    Normal
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