Level II - Displays Market Data For Buy And Sell Orders
Level II - Overview Level II provides the data for pending orders in the market. It displays the size of the best bids and offers with their respective depths. Day traders use level II to gauge the direction of the market over the short-term. This article will discuss the working parts of the level II screen based on the tools provided from the tradestation brokerage firm. While level II windows will look differently depending on the broker, the functionality is virtually the same. Level II Window Structure The level II window structure is comprised of four key components: (1) security information, (2) bid/ask window, (3) depth chart, and (4) bid/ask orders. ...
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