How to Create DepthMeter and PowerMeter in SierraChart

Instructions on creating DepthMeter and PowerMeter in SierraChart.

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DEPTHMETER INSTRUCTIONS

Step #1: Open a blank 1 minute chart - Set Graph Draw Type to Blank - Turn Off Scrollbar

Step #2:
Add Bid/Ask Depth Bars Study (displays the DOM resting limit order amounts based on the chart settings)
Step #3: Adjust B/A depth bars settings:
Turn off Average and Zero line
Set Display as Main Graph
Calculation Mode: Bid Depth vs Ask Depth
Set Autoset Draw Styles: No - Draw Zeros: No

Step #4: Adjust Study and Window Display mode
Set Ask Depth Bid Depth Subgraphs Draw Style: Fill Rectangle to Zero
Increase horizontal spacing & Add horizontal Grid + Chart settings: Draw Grid Above Studies Price

Step #5: Make the chart look clean
Turn off time scale & price scale + Turn off chart title border
Turn off study info display mode
Set scale border color to same as background

Step #6: Selecting the number of Depth Levels for the Calculation
Chart Settings - Advanced Settings 3 - Number of levels for B/A Depth calculation: 2-5-10

Step #7: Create Multiple Instances
Duplicate chart window to create multiple instances
Adjust the Number of Levels for Bid/Ask Depth Calculation for each new charts

POWERMETER INSTRUCTIONS

Step #1: Chart Creation
Open a blank 1 second chart - Set Graph Draw Type to 'Blank' - Turn Off Scrollbar
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Step #2: Adding Studies
Add study: Summation Periodic - Select Bid Volume - Set Study Name to remember easily
Duplicate Previous Study - Rename it and Select Ask Volume
Hide Ask Volume Summmation: we need it for the calculation only but will not be displayed
Set Color for Bid Volume Summmation & Select Graph Type: Fill Rectangle to Zero
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Step #3: Adding Studies
Add Study: Study Subgraph Multiply (Important: do not add Study Subgraphs Multiply!!!)
Select Source: ASK volume Summation & Set Multiplier to -1
Set this study to display in 2nd Chart Subgraph Window
Set Study Graph Style: Fill Rectangle to Zero
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Step #4: Adjust Time Period for Summation
Set Study Settings: Length for both Bid Summation and Ask Summation
10 refers to 10 seconds, 60 refers to 1 minute, 300 refers to 5 minutes
Length controls the time period for measuring buying and selling pressure
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Step #5: Adjust Study and Window Display mode
Increase the 2nd Chart Region to display as the main chart
Increase Chart horizontal spacing & Add horizontal Grid + Chart settings: Draw Grid Above Studies/Price
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Step #6: Make the chart look clean
Turn off time scale & price scale + Turn off chart title border
Turn off study info display mode for all Studies
Set scale border color to same as background
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Step #7: Create Multiple Instances
Duplicate chart window to create multiple instances
Adjust the Length for the calculation for both Bid and Ask Summation studies

SierraChart version: v2017 64 bit (Linux 19.2/wine-4.20)
Datafeed: SierraChart RT

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