Order Flow Software for Day Trading Powers Ahead with Jigsaw 5.2

hi this is Peter Davis from jiga Trading what I'd like to do is give you a quick rundown of the new features we've added to version 5.2 of the jigsaw tools as with all our videos you'll get the most

out of this one by watching it in full HD mode and full screen mode in YouTube now the layout you're looking at here it's not a recommended set up it's just something I'm using to highlight the changes so what we're going to look at

first is the parameters and initially we're going to focus on the depth and sales parameters so you can see here there's a power meter here which is NQ that's actually a

depth and cells power meter this one is the a step and celles parameter and then these two on the right they're both parameters linked to Recon tape we'll

actually have a look at the difference later so first of all with the parameters you don't need to make them this big you can you know you can have them as small as you want there's actually no point in them being this big

but for the video it kind of helps we can rotate them vertically and horizontally and we kind of read them left and right so they are power meters and we call them the three Gears of the

market because as you see from left to left to right they will kind of whip around at different paces and they do mean different things so first of all let's take a look at the es and let's

take a look at what we're looking at here so we can see on the left side stren parameter I've got 523 versus 1040

1062 now so the red there there they're the market sell orders and the blue ones are the market buy orders okay I've got a line in the middle there that goes

across that represents 50% the slightly larger line is 75% 25% here and this one is another 12 and a half% increment so what we're looking at is

just trades at bid versus trades at offer and what we will see in an up move you know decent up move we will see the

trades at bid out numbering trades offer by you know one and a half to two times now what we can do with this meter we

can actually uh reset the meter here um and we could also reset the meter if we reset the current trades and I'm going to right click reset current trades and

what we'll see is it's actually reset the current trades and reset the strength meter I should actually call that the power meter because that's our

new branding uh on each side now why would you reset that well the reason you reset that is if you were coming into a level that you're interested in you

might want to just focus on the the way the trading is changing as it gets into that level so if you've got this uh running since the open and you're at

10:30 you might see 50 60 70 80,000 contracts each side as you moving to a key level you're not really going to notice the difference that much if the

difference is just you know just changes uh five or 6,000 contracts on one side it's not really going to be that visible if you've got all the days history on there so what you do is as you come to a

key level you just click the reset here which will just reset the strength meter or you can click the reset here which will reset the current trades and the strength

meter now let's look at the the next one the next one is showing bids and offers okay so let's just look at the options how that works so I've got power meter

options here okay and let's just go through all of those settings right now so the first

setting reset on new position okay will cause the leftmost strength meter to reset on a new position so if I put an order in and it gets filled that

leftmost strength meter will reset the other meters won't reset because it' be kind of pointless they're just showing bids and offers and pulling in stacking there's nothing really to reset it's not

cumulative so reset on new position reset on Clos position another way to look at it active only when position is on which means when I place a position

the meter will become active and when I exit a position the meter will go off now the resetting and the active only when position is on the only apply is

when you go from Flat to having a position on it won't reset if you add more to the position okay reset on

current clear current trades that's the one that ensures when you do a reset here or here but it actually resets your strength meter as well so if that is off

when you do a reset here it will not reset the strength meter the meter types I can set here uh the trades power meter which is the left one depth power meter middle one

snapshot power meter which is the right m one now in terms of the depth parameter really what you want to see if

the Market's moving up you want to see the bids slightly outnumbering the offers unless you're coming into an area of resistance now when you come into an

area of resistance the offers are always big so it's not it's not doesn't mean it's going to go down it's just the way the markets work so as you're moving up uh towards the level of resistance you

should see bids outweighing offers but it shouldn't be 80% bids 20% offers when you see that kind of thing that's

generally a sign that that the biders are really spoofing to try and get you to buy so they can get out now one of the things about the depth and analyzing

the depth you're really not that interested in all 20 or 10 levels or whatever your data provider gives you uh you're really only interested in what's close to the market and how that's

changing so the default here is just five levels so basically if that's set to five levels what we're actually going to see we're going to see on this side

sorry on this side the total of one two three four five levels and then up here the total of one two three four five levels because really that's kind of for

me for the for the ES four or five levels that's what I'm interested in anything beyond that isn't really going to affect uh what I do in the immediate future

snapshot power level meters well that's this side so the snapshot power level snapshot parameter it's actually looking at these numbers

here the pulling and the stacking now a lot of people have said you know the pre-release uses those numbers don't add up okay so sure if I had one two three

four five levels of snapshot doesn't add up to 74 so what we do is this on the offer side

if you are adding an order to the offer it will go up here but also if you're subtracting from the bid it also goes up

here so we say if you're taking some off the bid or you're adding to the offer that's bearish and it goes up here similarly what we can see on the the

blue side here the bid side is what we're taking we're taking all the positive numbers from the snapshot and adding them here and taking the negative

numbers from the opposite snapshot and adding them in here too so we're kind of trying to be a bit more intelligent and saying okay adding to the offer is kind

of the same as subtracting from the bit from the bid it's a kind of a bearish signal now what it does also if you have a

filter on there so let's just filter that to 10 or above a snapshot filter okay what it will do is it so I've now got 10

or above what it will do the snapshot strength meter will only look at the filtered snapshot it won't use all of the numbers it just Ed filtered

stuff okay and what we can do is just have a look at these these trading options because the trading options are now going to affect the strength meters but

it's also going to affect uh some of the things you see on the depth and sales itself so close outstanding orders when a position is closed we already had that

that's just to basically say know if I've got any exit orders uh hanging around uh after I close a position uh they'll be cleared clear current trades

on new position will basically clear this column when a new position is entered and again that means when I go from Flat to having a position on those

columns will clear okay if I set it to all windows when I put a position on the es it's going to also close clear that column on the NQ

over here the other thing we've got is reenter on new position which means when I enter a new position it's going to

actually reenter this Dome so my trade is in the middle okay and all windows again will do the same over here now

I've got another option here here and that's for the guys there's a lot of guys out there doing webinars using jigsaw now and there's a lot of guys with YouTube channels doing jigsaw and they're probably not very happy if they're putting their account number out

there I know John Grady has asked me for this quite a few times um so hide account name if you put if I take this off you can see I can see the whole

account name there if I put that on it will hide some so if you are doing uh YouTube videos and you want to show your Live account uh it can do that what it

doesn't do it doesn't hide it on here on this drop down um so we are going to work on that to figure out how to do that we just couldn't get that in time for the

release okay so let's just take a look what happens when we clear a position so what we're going to be looking at we're going to be looking at the current trades here current trades here and the

strength meter here and the strength meter here okay so let me just enter a position it's just a s position on the

es okay and you'll see what happened is the strength meters reset the current trades reset and we also reentered so now what I'm looking at on this strength

meter here I'm just looking at the order flow the trades that came in after I entered the position now of course if there's certain items that I don't want to reset or I just want to reset for my current

instance of depth and sales and not for the other instruments then I can set that accordingly so what I've just shown you is the kind of the most most things you can

clear okay and now if we look over here on the the right what we can see we've also got a strength meter um for the reconstructed tape so I can see here

I've got strength meter icon uh strength meter settings okay it's just reset on new sessions and I just realized I'm saying strength meter still instead of power

meter so you'll have to excuse that now why would you put the parameter in reconstructed tape as well as depth and sales and the simple answer is because

you can filter the reconstructed tape so one of the things the reconstructed tape does it will actually take all of those trades that were split by the CME um so when put somebody puts in a

market order for a th000 contracts you will not see a th000 contracts on the regular time in sales but you will on the reconstructed tape so the the reason we've got the the power meter on the reconstructed tape is

purely because you can then put filtering on and you can actually filter for just the large trades so you can have a strength meter I'll just reset

that and that strength meter now will stay empty until a trade and more 100 contracts come in so really there's no um there's no difference uh if you're looking at unfiltered data there's no

difference between this strength meter here and this strength meter here which is unfiltered the only reason really to use the strength meter on the Recon tape first of all maybe you don't use depth and

sales uh second of all is for the filtering now I have a lot of questions from people uh all the time new users saying how do you move orders and the

way we've moved orders before is you click on the price and click on the new price and for some reason even though we have it in the documentation uh it's just not intuitive

enough and it's not really what people used to so what we've actually done is put the drag and drop here so now what I can do is just click and hold the mouse and move to a new price uh that means I

can actually still do the old things so if I click once uh and release the mouse I will actually be able to do things like change of quantity uh and cancel the

order but if I just keep the mouse down move it somewhere else that'll let me move the order now obviously what you've seen there theorder order there that I was

moving there or earlier on was actually an order created by an ATM strategy let's just do that again okay so my ATM strategy created two exit orders I can move those around

so it doesn't really care whether the orders are created through ATMs or chart Trader or whatever method okay let me just pause while I switch on the

histogram okay so many of you know we've got some histograms here on the side one of the problems that people had with the histograms is when we have an

anomaly like this so we've got this 933 935 bid here the way the histograms work is they scale according to the largest

trade so everything is now on here in proportion to this 935 and some people are saying well that's great until somebody's got a huge spoof order out there on a market like

the crude oil where you know we got 50s and 60s of each level and then there's an order 300 and it kind of messes up the scaling so what we've got we've got a histogram

scaling value and if I just put five let me just put 600 in there okay now what we see is everything is

scaled to 600 so this 644 here is 100% this th is 100% but everything's being scaled uh you know relatively to 600

contracts okay so that's a a customer request that we did another request was to do with the totals at bid

and totals are offer so we've got these current trade columns in the middle and traditionally we've been able to clear up and down those current trades columns but we haven't been able to clear up and

down the total at beard and total at ask and I can see how that would be very useful so what we've done we've got the up and down arrows here which for the current trades we've got a new set of up and down

arrows here for the current trade so if I just click up okay you can see that just the outside columns are cleared it didn't touch the current trade just the outside columns uh and we've given you a

way to clear that there are also shortcut keys uh to clear that and you can edit those in the normal shortcut key

editor the other thing that people have asked for is the trade lock traditionally the trade lock just locks you out from you know doing anything on

the depth and sales main window but it didn't lock these buttons here so some people saying okay the trade you know the trade lock should lock everything so we've done that now so the trade lock

will lock all of the buttons another thing that people mentioned were the STP ltp Oco buttons it wasn't always really clear whether

those buttons were on or not so now we've made it so that that should be very clear uh whether the button is actually enabled or not then the only other thing we've done

in this version we do have uh the products for open Erry S5 Trader um we also have Ninja Trader and we had two separate installers before we had a few

people running the wrong installer and calling me up and saying man this stuff doesn't work so what we've actually done we've also combined all of this into a single installer program so it's just a

one-click install and that will install for Ninja Trader and stage five Trader oec Trader um if you have them installed

so that's a 5.2 we've also made a number of uh quality improvements there is a fix list in the manual basically there is just one issue remaining that we couldn't reproduce and that is the one

customer is getting the system hanging when he saves a display scheme uh we can't reproduce that one we're still trying and it's not in this release anybody else that reported a bug to us

uh that will be in this release you should please test that um and get back to us if we've somehow missed an issue uh I'd like to thank you all for your support um especially the guys that

helped uh in the pre-release testing of this really really does help our quality to get you guys to kind of or get us to experiment on you guys before we release

it um as usual please feel free to contact us with any questions or comments and uh I guess I'll see you on the 5.3 release video thanks