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How doers that work? If it is above the ASK then it is on the inside BID/ASK level above? Or trading below the BID means it is on the inside BID/ASK level below? Why does the row need to be highlighted?
It means someone sold or bought above or belove the market price. But it's not actually above or below the market because it's can't be done. Each sell or buy order have to be on market price, so It's basically just represent someone hitting the level faster than the market price refreshes.
erm...ok. So the DOM does not update quick enough to show that price went from 61.25 - 61.50 and then back to 61.25? So Rtape functionality is basically saying: 'price moved in and out of that level so damn quick that you didnt even see it but I have highlighted the row for you.'
Ok thanks.
Just for interest sake, does jigsaw highlight if price spends less than a certain amount of time at a level? Im wondering how it determines that the price change didnt update on the DOM, but it knows to highlight the row.
So I don't understand the exact rules behind how the highlighting works, but I use it as a sign of momentum. If I see green I think of it as more people wanted to buy than there was liquidity at that price and so they are now buying the next price up. It could be that the recent market action just triggered a lot of people to buy, or it could be that stops are being triggered.