IB datafeed for Daytrading stocks?

[Antares66]

Hello,
in the past i had some issues with the combination MW/IBdatafeed. Since the last updates it seems that this combination runs much better than before.
I ´m mostly trading off a 2 minute chart and noticed that the chart loading happens much faster.
But sometimes i still notice some differences in the candle´s values (open, close, high, low) to TOS or Tradingview. I know that IB offers snap shot data only, so that
during fast movements not all values get processed. I know that in IB´s charting the candles get updated every 5 seconds to show the real values.
Is it possible to get these corrected values in MW? I also tried an additional Dxfeed but Dxfeed delivers ony NASDAQ data and not aggregated data from other exchanges.
I´m not quite sure if the dxfeed data would be a benefit to IB´s data when daytrading stocks.
I would appreciate your opinion in regards which datafeed is the best for daytrading stocks with MW.
Thanks

 

[jspot99]

Had exact same issue. I often trade Nasdaq on 1 min and 50 tick at market open, so need robust data w/ level 2. I went with dxFeed and haven't looked back. No issues. They have a first month special for MotiveWave users: https://www.dxfeed.com/dxfeed-made-...-motivewave-users-for-34-for-the-first-month/

If I will need other US exchanges later then I will mostly likely go with IQ feed (more expensive, good reputation for reliability).

 

[Antares66]

I also tried Dxfeed but they only offer NASDAQ and not ARCA, Island. I guess IB´s datafeed and the datafeed of TOS is aggregated and contains a composition of all exchanges. I´m not quite sure if dxfeed so far is sufficent. But it seems you have no problems with these limitations. It´s really an advantage that with dxfeed you get second based and tick data, as you mentioned. This is great for scalping. This offer otherwise only IQ and Esignal.

 

[Antares66]

When using dxfeed as a service alone, I have no problems calling up tick charts for any NASDAQ symbol i selected.
But when using IB as my service for Brokerage and dxfeed as my additional service for realtime and historical data i get an error messsage when calling up a tick chart ("unable to change bar size, no data available for the specified period"). The problem seems to be up to MW and not up to dxfeed because the tick charts work when using dxfeed only.
When will dxfeed offer consolidated data for NASDAQ and NYSE? I know dxfeed offer them for quantower.

 

[DyrtDyver]

When using dxfeed as a service alone, I have no problems calling up tick charts for any NASDAQ symbol i selected.
But when using IB as my service for Brokerage and dxfeed as my additional service for realtime and historical data i get an error messsage when calling up a tick chart ("unable to change bar size, no data available for the specified period"). The problem seems to be up to MW and not up to dxfeed because the tick charts work when using dxfeed only.
When will dxfeed offer consolidated data for NASDAQ and NYSE? I know dxfeed offer them for quantower.

I'm interested in the answer to your question about consolidated data stream as well. Have you submitted that question to dxFeed?

 

[Antares66]

I asked them on the Elitetraderforum but they didn´t aswer. I´m not quite sure if i should use MW in the combination with dxfeed.
I have noticed that MW has huge problems to handle dxfeed´s datafeed properly. For example when i am connected to IB and using dxfeed as my source for realtime and historical data i cannot open a tickchart. I get an error message. When using dxfeed only without IB i have not such problems.
Same with range bars. When being connected to IB and dxfeed i get totally corrupted range charts. When using dxfeed only there a no such problems.
It´s obvious that the problems are on MW´s side and not on dxfeed´s
MW knows the problems but can´t solve them yet. So why should i pay $49 (got the price for quantower and medvedtrader) for a consolidated data feed which doesn´t work properly? At this time dxfeed for stocks only can be used for time based chart.
What really drives me crazy is that dxfeed´s data for futures in the combination with IB work totally great. You can open range, tick, renkochart without any problems.

 

[DyrtDyver]

I'm still pretty new to active trading and very knew with the concept of 3rd party data feeds, so I appreciate the detailed background. I also use IBKR and struggle (i.e. very annoyed) w/ the imposed data limits, although I understand the need and that you can also buy more; just not interested in that given it seems somewhat expensive on a per-line upgrade cost. It's the primary reason of my researching and needing to move to 3rd party data, which also means that I need to move away from TWS. I have seen a few challenges of my own and frustrations with trying to move to MW as a trade execution platform but for now, I am chalking that up to being new to the platform and perhaps not understanding how it's supposed to function vs. something buggy.

Do you know if IQFeed's subscriptions include market depth (which I understand to be more than just Level 2) for anything besides just NASDAQ (must have TotalView for full market depth) listed equities? Their website content makes me believe the answer is "No" but I can't really tell if full market depth is something to which one can subscribe from IQFeed for other exchanges, specifically NYSE, ARCA, AMEX, EDGx).

 

[Antares66]

IQ is quite expensive. Coreservice costs $ 95. Nasdaq level 2 additional $60. I could never trade on tws alone. Ok they have booktrader but if you want to attach bracket orders when entering a trade it´s getting very difficult to implement this. Another option would be using barchart´s feed.
But i´m not using Level 2 since there are a lot fake orders which should suggest there is a big sell or buy order in the market. And you won´t see any hidden or iceberg orders.

 

[DyrtDyver]

Agreed IQFeed seems to be one of the most expensive options. And I’ve contacted BarCharts no less than 4x and all they can do is reply they are backlogged with their emails and someone will be contacting me soon. That was almost 3 weeks ago, which is absolutely unacceptable.

It looks like support for eSignal was dropped a while ago. I don’t know that any other providers integrate with MW and IBKR although I have been trying out Rithmic with a less than positive experience. If I recall, MW only lists maybe those 4 as data provider partners for IBKR. Actually, they also talk about CQG but that seems to imply moving to an entirely new broker which I want to avoid.

Do you (or does anyone else) know if you can subscribe to a feed from Nasdaq directly? According to their website, I *think* if you get Nasdaq TotalView, that is market depth for Nasdaq (but not a few of their others, like BX), and seems to include NYSE, AMEX and some “other regional exchange data”) if memory serves.

Trading is hard enough and not sure why providers make 3rd party data overly complex and difficult.

 

[mikeyhu70]

Remove CGQ and Rithmic which look like Future brokers, there is only IQFeed and Barchart, but I'm not a day trader (Swing or Long term)

If you take a trial with Barchart, you would know if it work or not

I have Barchart for historical data only and use IB for real time data

 

[DyrtDyver]

Remove CGQ and Rithmic which look like Future brokers, there is only IQFeed and Barchart, but I'm not a day trader (Swing or Long term)

If you take a trial with Barchart, you would know if it work or not

I have Barchart for historical data only and use IB for real time data

Thank you for your reply. I can't get BarChart to call me back at all after many weeks. If they can't even do that for a potential new customer, I am certain I won't be able to rely on them when it's critical. That's a huge non-starter for me. At this point, I guess my main pain point is the limits on the IBKR live data. What I am contemplating is solely using IBKR for Futures trading since there are far less symbols, and thus avoiding the data line limit/restrictions. It's either that or pony up more money for booster packs. But, it's not just line limits; in my experience, I don't feel their feed has been all that fast either.

 

[mikeyhu70]

To be honest, I'm a bit more flexible, they offer 30 days free trial starting from the 1st of each month (you have nothing to lose). They do answers then I took the trial, take between 1-2 days, sometimes answers is useful others time not

 

[Antares66]

Dxfeed now offers a consolidated datafeed for NASDAQ and NYSE.
IB´s datafeed also works pretty well but it´s not tickchart based so you could notice some differences on a chart to TOS, DXfeed, Barchart at explosive price movements.
But you always can clear local data to reload a fresh chart. You must decide if $49 are worth for an additional tick based datafeed for stocks.

 

[motorman]

I can confirm that IBKR futures tick data is way off so the Motive Wave "Volume Inprint" and delta charts are useless
The bid ask volume feed from IBKR is inaccurate. I would not trust it for stock data either
I only considering Motive Wave for the volume inprint charts, bracket orders I can get with a cheaper software.

My question is... is there a problem with MW or IBKR?

 

[DyrtDyver]

I can confirm that IBKR futures tick data is way off so the Motive Wave "Volume Inprint" and delta charts are useless
The bid ask volume feed from IBKR is inaccurate. I would not trust it for stock data either
I only considering Motive Wave for the volume inprint charts, bracket orders I can get with a cheaper software.

My question is... is there a problem with MW or IBKR?

I am so new to 3rd party data and have yet to pull the trigger so my experience is admittedly nil, but given that MW does not provide data (only utilizes others) and if you are suspecting it's data related, then I don't see how the issue would be MW's. Just my 2 cents...

 

[tdigital]

I just installed the Motive Wave demo using IBKR futures demo data. All the volume data loads on the charts when I start MW, but there is no volume while the program is running. Any idea why? I tried Clearing Local Data.

 

[DyrtDyver]

I just installed the Motive Wave demo using IBKR futures demo data. All the volume data loads on the charts when I start MW, but there is no volume while the program is running. Any idea why? I tried Clearing Local Data.

Probably not enough information provided to render any advice/comments that would be terribly useful. I don't believe I have experienced this issue myself. I am assuming you expect to see [noticeable] volume for the time of day / market and your current location/time zone. Is it just extremely low volume and therefore not as noticeable due to scale? Did you compare to a watchlist where you can have current transaction volume in the form of digit/data in a table to see even the smallest amounts, and with more than one instrument? You can see this in my attachment. When I try to closely repllicate your chart, it almost looks like your data had a hiccup at the point I've highlighted in my drawing, but then picks up later... weird. Your candles change as well as the volume. I am not a fan of the volume overlaying the candles at the bottom of the same chart so I break mine out for that reason but also because you can then scale it separately. You can see volume is quite low where yours cuts out but when the subgraph separating the volume, you can def. see it present. Maybe go back to the same time period in replay mode and see if the data is still wrong now? I've found support to be excellent. If you send them an email, they will get back with you, usually within 24 hours. Good luck w/ your troubleshooting.

 

[motorman]

Motive Wave doesn't work correctly with IBKR data feed, look at the two screenshots it plots volume delta bars of the consolidated live data when the chart is refreshed it constructs the volume delta bars of the backfill. the two charts are different. Yes I have the "Recalculate on close" turned on.
The product is underdeveloped, it's not processing the IBKR consolidated data feed correctly. Luckily I'm finding all these issues in the demo
I can't imagine using MW for live high frequency trading

 

[Donovan2580]

I can confirm that IBKR futures tick data is way off so the Motive Wave "Volume Inprint" and delta charts are useless
The bid ask volume feed from IBKR is inaccurate. I would not trust it for stock data either
I only considering Motive Wave for the volume inprint charts, bracket orders I can get with a cheaper software.

My question is... is there a problem with MW or IBKR?

I use volume imprint charts every day on several markets, I would say your problem is with IBKR. I have seen many messages on the forums with people complaining about IBKR. MW is just a program that interprets data. If the data is not good, inconsistent, etc it is not the fault of MW.

It looks like you are trading Crude Oil? Do yourself a favor and get a Rithmic or CQG feed

 

[Antares66]

Is DXfeed for NASDAQ sufficent or is it better to use their´s consolidated datafeed for NASDAQ and NYSE?
When using their NASDAQ feed i noticed that i get quotes and charts also for stocks which are listed on NYSE.
I don´t understand why.