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MZpack Settings for Indian Market (NSE)
Last updated: Mar 5, 2021
Hybrid mode for Order flow
Indian Market (NSE) data providers (eg. Accelpix) don’t translate historical bid/ask data so far. For Indian users, Hybrid mode for ‘Orderflow – Calculation’ settings has been added. The Hybrid mode uses UpDownTick calculation for historical data and BidAsk calculation for real-time data, which is more accurate. Hybrid mode is available starting from version 3.15.11.
For ‘Spread trades’ set Split or LastKnownSide.
For ‘Spread trades’ set Split or LastKnownSide.
Non-Crypto volumes divider and Ticks per level
Indian users must adjust Non-Crypto volumes divider and Ticks per level parameters.
For NIFTY features set volumes divider = 75 according to lot size. BANKNIFTY features has 20 as the lot size. See the above image. Non-crypto volumes divider is available starting from version 3.16.3
For NIFTY futures set Ticks per level = 40. We use this value for mzFootprint on 240 Range chart and for mzVolumeProfile on 30 Min chart.
For BANKNIFTY futures set Ticks per level = 1500.
mzBigTrade Indicator
mzBigTrade Indicator requires fine-tuning. See image. You can use 10 Tick chart to refine your entries. Take some screen time to make adjustments suited for your trading strategy.
Download BANKNIFTY – NIFTY workspace. MZpack 3.16.3 or later required.