IB Charting.
- Thread starter IBsoft
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Quote from joesan:
With respect to you comment, I like to put it into a slightly different context.
There are here 2 types of services, and also 2 types of users who benefit from these improvements:
1) The TWS-trader who like to have charts delivered by their own broker (IB) for no additional costs, and which charts exactly match their trading screens (it is the same data source: this in contrast of using a 3rd party quote/chart provider like, for instance, eSignal).
2) The API-user who needs backfill for additional features that he can not get elsewhere. This includes automated system trading, but also specialized charting and Technical-analyses, offered by 3rd parties or build by the trader himself. And also here: the data is coming from the same source with the same consistency and quality-level (thatâs a lot better than trying to integrate/merge from different providers).
As I speak for one of the 3rd Party API-providers (ButtonTrader), Iâm extremely happy that IB has decided to offer backfill. Iâm more delighted about the 1-week delivery and all that for no additional costs!
This makes it possible to implement trading-features, which needs indicators build from historical data, although, I have to ask IBsoft to extent this service a bit more. One full week in 5-minute bars is really great (more than we need). We only miss real history of 1-day bars, for as long as the IB-servers hold this data (maximum of 2000 bars is not needed). This data is already available for the most common tickers (because the IB-Charts are showing them), so we would be very happy when BackFill is transporting this same info to the API as well.
Really hope IBsoft will consider this some day in future.
Also some of us trade things offered by IB that have very limited availability through the usual charting or backfill suppliers e.g TOPIX or HSI or will be able to backfill things like IPE crude for the period when we are asleep but it is still trading.
As Hoi has pointed out being able to chart IB's actual quotes e.g with spot forex is also important.
This is not contradicting my original point about not compromising basic reliability for the sake of backfill, scanners etc - just hold back on further upgrades until such time as the reliability related issues are cleared.
As Hoi has pointed out being able to chart IB's actual quotes e.g with spot forex is also important.
This is not contradicting my original point about not compromising basic reliability for the sake of backfill, scanners etc - just hold back on further upgrades until such time as the reliability related issues are cleared.
Quote from Hoi:
With respect to you comment, I like to put it into a slightly different context.
There are here 2 types of services, and also 2 types of users who benefit from these improvements:
1) The TWS-trader who like to have charts delivered by their own broker (IB) for no additional costs, and which charts exactly match their trading screens (it is the same data source: this in contrast of using a 3rd party quote/chart provider like, for instance, eSignal).
2) The API-user who needs backfill for additional features that he can not get elsewhere. This includes automated system trading, but also specialized charting and Technical-analyses, offered by 3rd parties or build by the trader himself. And also here: the data is coming from the same source with the same consistency and quality-level (thatâs a lot better than trying to integrate/merge from different providers).
As I speak for one of the 3rd Party API-providers (ButtonTrader), Iâm extremely happy that IB has decided to offer backfill. Iâm more delighted about the 1-week delivery and all that for no additional costs!
This makes it possible to implement trading-features, which needs indicators build from historical data, although, I have to ask IBsoft to extent this service a bit more. One full week in 5-minute bars is really great (more than we need). We only miss real history of 1-day bars, for as long as the IB-servers hold this data (maximum of 2000 bars is not needed). This data is already available for the most common tickers (because the IB-Charts are showing them), so we would be very happy when BackFill is transporting this same info to the API as well.
Really hope IBsoft will consider this some day in future.
Extending the backfill from 1-day to 1-week required very little work. Hence, given the wide and persisting demand for this feature, we decided to offer it now.
Providing 1-day bars requires quite a bit of work on the back-end - notice that we are not offering it for long time periods on IB's own charts either. The work is planned, but as long as we have more pressing issues to address, it will have to wait.
I have to agree with these points 100%.
Charting is very different business and there are already DOZENS of charting applications which work with IB API, from the very simple to the very sophisticated (e.g. Ensign)
I'd be very concerned if charting functionality might affect the stability of TWS.
It's GREAT to hear that IB will offer backfill data of various timeframes. More history will be great. And it will allow apps like Button to offer even better charting (I don;t use BT as my needs are simple, but I think it's the best front-end of all).
Lets see.... the majority consensus appears to be that IB should
quit working on it's charting because they should just stay a
quote/order entry platform... Hmm...
I guess they wouldn't be able to compete with the likes of TradeStation then...
Which appears to have charting I believe in their arsenal...
Maybe we are all just paranoid IB might charge more than $10
for it's data and charting if they ever get it good enough to charge for?
I still remember when QuoteTracker first came out it was simple and
expanded it's abilities as time went on...
I would think that just because they are working on charting and
of course BookTrader that it shouldn't affect TWS...
IB must believe they need to work on having a charting application
to remain competitive or else they wouldn't be doing it in the first place...
P.S. As some of said, they would rather have IB work on it's reliability...
Perhaps other charting applications that are not Java have something
to do with some of TWS's problems and having the charting come
straight from IB would help alleviate those problems?..
I also realize that other applications such as QT, Ensign, ButtonTrader,
and others perhaps feel threatened by IB coming up with charts
and Booktrader so there is motive for IB to not do this?...
Thoughts?
quit working on it's charting because they should just stay a
quote/order entry platform... Hmm...
I guess they wouldn't be able to compete with the likes of TradeStation then...
Which appears to have charting I believe in their arsenal...
Maybe we are all just paranoid IB might charge more than $10
for it's data and charting if they ever get it good enough to charge for?
I still remember when QuoteTracker first came out it was simple and
expanded it's abilities as time went on...
I would think that just because they are working on charting and
of course BookTrader that it shouldn't affect TWS...
IB must believe they need to work on having a charting application
to remain competitive or else they wouldn't be doing it in the first place...
P.S. As some of said, they would rather have IB work on it's reliability...
Perhaps other charting applications that are not Java have something
to do with some of TWS's problems and having the charting come
straight from IB would help alleviate those problems?..
I also realize that other applications such as QT, Ensign, ButtonTrader,
and others perhaps feel threatened by IB coming up with charts
and Booktrader so there is motive for IB to not do this?...
Thoughts?