which market data needed

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Updated July 1, 2021

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which market data needed

July 1st, 2021, 10:42 AM	#1 (permalink)
Justine4 Cologne Germany Posts: 11 since Jun 2021 Thanks Given: 7 Thanks Received: 8	A friend of mine just said I need level 2 data for the RSI and the momentum indicator in SC. I was sure that level 1 data was sufficient !? I don't trade with order flow indicators or a DOM. What is true? L1 or L2? Many thanks in advance.

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July 1st, 2021, 11:02 AM

#2 (permalink)

matthew28

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I don't know those specific indicators or use that platform, but the friend is almost certainly wrong.
Level 2 just gives the depth of market for heatmap charts or DOMs and is unnecessary for standard charts and indicators which work with Level 1 data.

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July 1st, 2021, 11:47 AM

#3 (permalink)

Justine4

Cologne Germany

Posts: 11 since Jun 2021

Thanks Given: 7

Thanks Received: 8

matthew28

I don't know those specific indicators or use that platform, but the friend is almost certainly wrong.
Level 2 just gives the depth of market for heatmap charts or DOMs and is unnecessary for standard charts and indicators which work with Level 1 data.

Hi Matthew, that's what I thought.
thanks for your quick solution.

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