How to determine beginning of a new bar and Price bid/ask status within OnMarketData

[love2code2trade]

I have an indicator that is Calculate.OnBarClose but utilizes OnMarketData for tick-by-tick logic. Since IsFirstTickOfBar cannot be used in OnMarketData, how is a new bar determined in this context? Also, in the eventargs (e) passed in OnMarketData when MarketDataType.Last, how is it determined what type of price the trade completed i.e. a bid or an ask? And how does the e.Price relate to the e.Bid and e.Ask properties of the eventargs object relative to the price type from the previous question? Any help is greatly appreciated!

[bltdavid]

Since IsFirstTickOfBar cannot be used in OnMarketData

Says who?
Did you try it?

[NinjaTrader_ChelseaB]

Hello love2code2trade,

You can save the CurrentBar value to a variable.

If the CurrentBar is equal to the variable its the same bar. If CurrentBar is not equal to the variable, its a new bar. Resave the CurrentBar to the variable and trigger any actions you would like.

[love2code2trade]

thanks for your replies! ChelseaB, your solution works! Bltdavid i did try and it was not working. when i consulted the docs it warns against using IsFirstTickOfBar outside OnBarUpdate. ChelseaB can you shed some light as to why that is the case? Thanks!

[bltdavid]

I thought OnMarketData was invoked with a BarsInProgress context,
which (I thought) meant that all Series were synced to the right data
series input (because I thought there is an OnMarketData for every
AddDataSeries as well as the primary chart series).

Maybe no IsFirstTickOfBar because OnMarketData is called with
ask/bid/last price changes, whereas OnBarUpdate is called on last
price events only -- thus it probably doesn't make sense to check
IsFirstTickOfBar on ask/bid price events.

No prob, I stand corrected.

Curious as to what ChelseaB has to say, too.



Fyi, look at @Swing.cs to see Chelsea's suggested technique in
action -- and yes, NT7's @Swing.cs used this same technique, so
it's been around awhile.

[NinjaTrader_ChelseaB]

Hello love2code2trade,

IsFirstTickOfBar is directly related to the bar updating, which happens in OnBarUpdate(). Market data events can occur without the bar updating.

[eDanny]

Check out the BuySellPressure indicator.