I am an active user of your trading platform, [Dhan], and I appreciate the efforts you put into continuously improving and updating the platform.
I am writing to request two new features that I believe would greatly enhance the trading experience on your platform:
Tick-by-Tick (TBT) Chart: A TBT chart would allow users to view real-time, tick-by-tick price movements, enabling more precise trading decisions. This feature is particularly useful for scalpers, day traders, and those who rely on technical analysis.(Angel one and upstox already have)
Volume Candle: Adding a volume candle feature to the charting tool would provide users with a clearer visual representation of trading activity. This would help traders identify trends, gauge market sentiment, and make more informed decisions.
These features would not only enhance the overall trading experience but also bring your platform more in line with industry standards.
I look forward to hearing from you and learning about any upcoming updates or additions to the platform.
Hi @Maulikbhatt Thanks for your kind words about Dhan, and yes we continue to make experience across all our platforms better everyday.
About Tick-by-Tick data - there are many misconceptions that are floating around. We have recently introduced 20-depth market level 3 data. When it was unthrottled, here is a sneak preview of how was fast this is
As you can see, it is humanly impossible to keep a track of LTP in real-time when we were streaming the data as real-time as possible. I personally felt this is more distracting and less meaningful.
Incremental value added by Tick by Tick Charts is only bit marginal and cannot be deciphered by naked eye. We already send anywhere from 3-6 updates every second to charts, which is reasonably faster.
Additionally Volume Candles are available on Dhan for traded stocks and scripts.
I appreciate your explanation regarding the Tick-by-Tick (TBT) data and the limitations of humanly processing real-time LTP updates. However, I’d like to share my personal experience with order execution on Dhan. I’ve noticed discrepancies between the chart prices and actual execution prices, even when the chart doesn’t display the exact price. This issue hasn’t occurred on TBT charts, which suggests that implementing TBT in a similar manner to Upstox or Angel One could be beneficial.
Additionally, I’d like to reiterate my request for Volume Candles, which are currently not available on Dhan. This feature would provide valuable insights into market activity. I look forward to seeing these features implemented in the future.
This seems to be the first time where I would disagree with you!!
But before disagreeing, could you show me an example. I am personally more inclined towards the view taken by @PravinJ and have written on similar lines earlier.
That’s okay we are all entitled towards our own views.
If you wanted to see an example, head on to a TBT chart, plot a trendline on a level with multiple resistances, on sub-daily charts such as 15-min or 1 hour and plot the same trendline on a non-TBT chart during live market. You will know what I am talking about.
Ohh! Then it is a difference of strategy we use. I treat resistances as well as support as zones and not as exact points. So, I don’t find minute differences to be an issue.
Volume Bars for each candle is available as indicator. Additionally, you can apply Volume Profile Fixed Range & Volume Profile Visible Range, again as a indicator. This gives the distribution of volume on each price point.
Think, what you are asking here, the Volume Candles as Chart Type, which adjust the candle width based on quantum of volume - this is something the TradingView has not extended to its partners. Be assured, as soon as this is available in the tradingview library, we will deliver to you all. Hope this helps.
@PravinJ dhan is so advance in tech sector then why you not thinking to give tbt chart ? Option. serious note don’t become slowly like zero DHA who give thousands of excuses when we ask anything to integrate
@BIR Not an excuse for sure, clearing the air around TBT… the incremental value that it brings is more notional that what it is claimed to be is what I am simply saying.
As for charts, we continue to innovate - India Time Frames, Seconds Charts, Market Replay, 20-Depth on Charts, First Integration with TV, Webhook as Order Type, Scalper Mode, Option Chain on Charts (which now sounds basic), Alerts on Charts and one we annoucned this week - Auto Detection of Candlestick Patterns - we continue to innovate for past 3 years and we will do.
Once again, I am not against TBT or saying we won’t do. Simply stating how we know things - as is.
Market Data: is real-time in both TBT and regular one, its snaps per second. The video above shows LTP as is unthrottled - humanly impossible to decipher the speed of this.
Increased Accuracy - yes, it captures more ticks v/s snaps. Yes, so I agree here that in few candles it will be marginally better. That said, I can understand you will want to stress on this, but not to make a point I’m just stating that even NSE for that matter shows snap data on its website v/s TBT data.
Improved Trade Execution - No, it doesn’t work that way. Trade data and Interactive data with exchanges have different streams. Trade Execution purely depends on your OMS capabilities and many more things the implementation, which is where DEXT (of Dhan) now processes 90% of trades in under 25 ms.
Better Risk Management - Once again, Risk Management Controls are more tool centric, trade centric and trader centric. Dhan does provide most comprehensive risk management tools via Trader Controls.
Along with this, please also view response on this thread here…
@PravinJ
Maybe you’re right from a technical standpoint, but I’d like to share my personal experience. For instance, I’ve placed trigger orders at a specific price, say 100, but the actual execution price on Dhan has sometimes been 95 or 97. Interestingly, the price on the chart never even touched 100, yet my order was still executed. However, since switching to TBT charts on Upstox, I’ve never encountered this issue. My orders are now executed at the exact price I see on the chart.
@Naman@PravinJ
“Dhan team, many users are demanding Tick-by-Tick (TBT) charts. Regardless of whether it’s better than normal charts or not, we request that you add this feature for us. Please take inspiration from Upstox and Angel One, and provide a TBT chart option, without necessarily replicating their exact functionality.”
we are all entitled towards our own views.
