Book Pressure allows for real-time measurement of buying and selling pressure within a market’s order book.
Book Pressure is very sensitive intra-bar. It is ideal for monitoring when price is in either an area of likely reversal, or an area of potential breakout.
Tip: In order to train your eye and to get accustomed to the behavior and insights that Book Pressure can provide, use Sierra Chart’s ‘Replay’ function to monitor intra-bar activity.
It is recommended to scroll across a chart and find locations where significant levels of Book Pressure appeared to have an impact on price.
Once you have isolated this area, you can use Sierra Chart Replay to see in the intra-bar behavior of this metric.
It is recommended to focus on the ‘Extended’ Up and Down versions of Book Pressure for this exercise, as the ‘Extended’ option is tuned for intra-bar monitoring.
You can configure the Book Pressure threshold value for your bots by right-clicking on the Book Pressure button, and choosing, ‘Configure’.
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