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I’m confused, please advice. I have observed bunch of trades that were listed as ‘BID’ trades but they took place on the ‘ASK’ side of the spread. In index futures and on platforms such as Sierra Chart, these would definitely be ‘ASK’ volume trades. Any ideas?

@cryptowat_ch

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We're having this debate internally... I think the existing rationale is that it's a bid/buy because it's a taker order executing against the ask/seller's maker order. The tick chart shows that the trade hit the ask, which means someone hit the resting sell limit order on book.

5:01 AM · Nov 28, 2020Twitter Web App

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and

Maybe the confusion is from "bid" being used rather than buy. I'm not familiar with the other tools you mentioned but if bid/ask usually refer to the side of the book that got taken from then we shouldn't be using those terms as synonymous with buy/sell.

Milen Bilyanov

@mbilyanov

Nov 28, 2020

Here is a quick demo of some generic defaults. Basically, a consistent colour scheme for trades taking place on the "ask" and on the "bid". Usually red would be for "hitting the bid (selling pressure)", and green (or blue) would be for "lifting the ask (buying pressure)".

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