Written by Sections in this article
Timeframes
Since heatmaps are very heavy on the graphs, the time frames included for now are limited to:
- 1 Day
- 4 Hours
- 1 Hour
- 15 Minutes
- 5 Minutes
- Real-time
Heatmaps are not easily calculated as normal candlesticks. Therefore, at this time, options are limited to the above-mentioned, 6, timeframes.
Real-time chart
The Real-time chart is a recreation of the order book in real time. Since the graph will develop with the price action, once you initiate this timeframe, you will need to wait for the data to load. The precision of the heatmap will depend on precision of the order book. You can change the precision with + / - buttons in the top menu of order book or by changing order book heatmap precision, buttons 1 / 2 right next to orderbook heatmap opacity slider.
Real-time chart is being recreated from orderbook in real time thus you need to wait for the data to load. Precision of the heatmap depends on current orderbook precision. You can change precision with + / - buttons in the top menu of orderbook or by changing orderbook heatmap precision, buttons 1 / 2 right next to orderbook heatmap opacity slider.
HOTKEY:
B = ordebook heatmap precision
TIPS:
- Drag the y axis to adjust chart scale
- Turn on candlesticks and set SMA to 10
- Turn on large trades tracker to visualize important trades
Have you ever wondered what’s going with price inside candlesticks? Take a deeper look into the market, turn on Real Time chart and explore this new level of price development. The real-time chart automatically updates, live on your screen, so you can dive inside the market structure like never before.
Watch behavior of the market movers and learn how market reacts in different situations under the loop. Warning: addictive for scalpers! Combine the realtime chart with the 5m timeframe to improve your entry timing.
Chart type
TensorCharts has three types of chart - candlesticks, heikin ashi, and renko charts. You can easily toggle between them with the button right next to timeframes options or with key H. The three chart types can be defined as follows:
- Candlesticks : The most widely used tool in all of technical analysis, it simply graphs four data points of any given period: high, low, opening price, and closing price.
- Heikin ashi : Modified candles, best suited for trend riding as they take data from the previous period to portray momentum of the current period. Look for a doji or a shift between bullish and bearish candles to suggest a trend reversal or a point to exit the market and take your profits.
- Renko : It diminishes noise by isolating price from time. Each brick is formed if fixed increments or decrements in price are achieved. Renko in TensorCharts is calculated using the average true range (ATR 14). Renko needs more data, zoom in and out the chart to load more data.
By default, visibility of candles is limited to outlines so it wouldn’t cover trades heatmap. To switch visibility, hit key C or click on candlestick icon button near chart type button.
More precise settings of candlesticks’ visibility can be controlled by trades heatmap opacity slider. Try to move the slider to its extremes.
HOTKEY:
H = chart type
C = candlesticks’ visibility
TIPS:
Use Heikin Ashi candlesticks for better trend moves interpretation. It is great visual form of price development interpretation for swing traders.
LINKS:
Move/zoom
There are multiple ways to zoom and move within the chart:
Move
Mouse - left click and drag
Touchpad - two fingers and horizontal slide
Zoom
Mouse - scroll wheel
Touchpad - two fingers and vertical slide
Zoom buttons in the middle of chart
Price range can be also adjusted by dragging Y axis. It’s useful to see important supply zones further from visible range. Be aware custom price range turns off autoscaling. To reset it back to default settings, click on the reload button in between zoom buttons.
