Product Review: Level 3 Data by Jayanthi Gopalakrishnan
We’re all familiar with the open, high, low, and closing prices typically displayed in a price bar. But does that give us an idea of what is really going on inside the price bar? Do we know how much of a price bar represents buying and how much represents selling? Thanks to Level 3 Data, we can now gain an insight into this information. These days, with algorithmic trading gaining popularity on Wall Street, this piece of information may just be what you need to become profitable in your trading.
For this review, I will focus on the features available to the individual trader. To get started, I looked at the top five stocks that are ready to move or are showing more buyers than sellers. Mind you, if you are a gold-level member, you can access the screening list, which shows all stocks that are ready to move. This list was generated from the three-dimensional algorithm created by Level 3 Data founder Don Soubolsky. You can find an explanation of the algorithm on the website.