“Read the Tape” with NinjaTrader’s Time & Sales Window

The Time & Sales (T&S) window provides a detailed view of trading activity for a particular instrument which can be of interest for day traders. It displays real-time data of the current bid/ask, price and volume as well as color coded last traded time, price & size.

Similar to reading a “ticker tape”, savvy traders can use the T&S window to potentially predict future price movements by monitoring the amount of trades and their relation to the bid/ask price. In general, if the T&S window is reporting a number of quotes above the ask, it can be an indication that price is on the rise. Conversely, if the quotes are weighted more heavily below the bid, price can potentially be on its way down.

As with many trading indicators, T&S is considered a complementary form of data that can be especially useful when coupled with other forms of technical analysis. Below details the components of the NinjaTrader 8 T&S window.

Quotes Display

Displays the current Bid and Ask price (1):

  • Bid – the current bid price followed by the number of contracts at the bid
  • Ask – the current ask price followed by the number of contracts at the current ask

* Note, you can disable the quotes section by right mouse clicking & deselecting the menu item “Show Quotes”.

Time & Sales Grid

Displays the Bid, Ask & Last data:

  • Daily High/Low – An “H’ will be displayed if the trade occurred above the current session high price (2)
  • Time – Timestamp of the trade (3)
  • Price – Price of the trade (4)
  • Size – Displays the total volume of the trade (5)
  • Block – A “B” will display if the trade size was greater than the user defined “Bock Alert Trade Size”. By default, the Block Alert Trade Size is set to 80 contracts and can be configured within the Time & Sales Properties Menu (6).
  • Among a number of other award-winning features, every download of NinjaTrader is equipped with the T&S window! Get started with NinjaTrader for FREE today!