Glossary
BATS (Better Alternative Trading System) — the Cboe BZX exchange (formerly BATS) provides US stock data for free. Their data is often very similar to the data from the exchanges, but there can be differences.
Trading session — the period of time that matches the primary daytime trading hours for a given exchange and locale. For Forex and Crypto exchanges, trading session is the last 24 hours.
User session — a time interval from a user's login to their logout.
Symbol mapping — the mapping between the names of the broker's instruments and TradingView instruments. This mapping solves the problem of TradingView and broker symbol names mismatching.
Sandbox — the sandbox is a fully functional copy of the TradingView website located at beta-rest.xstaging.tv.
Order — instructions to a broker to purchase (buy order) or sell (sell order) assets on a trader's behalf. When an order is placed, it follows a process of order execution.
Position — there are positions of two main types — the amount of assets which is owned (long position), or the amount of debt (short position). A trader takes a position when buys through a buy order, or if sells short assets.
Long position — a position gain when there is a price increase, and a position loss when there is a price decrease. It involves owning a security. A long position formed as a result of buying a symbol.
Short position — a position formed as a result of a short sale that hasn't yet been covered. It profits when the security falls in price. A short often involves securities that are borrowed and then sold, to be bought back at a lower price, hopefully.
DOM (Depth Of Market) — Depth Of Market, known as Order Book, shows data streamed from the broker which supports Level 2 data. DOM shows the number of open buy and sell orders at different securities' prices.
Limit order — an order to buy or sell when a given or better price is reached.
Stop order — an order to buy or sell at the market price as soon as it reaches a certain level.
Stop-Limit — an order to buy or sell at a definitive or a better price, but only after reaching a set price value. Essentially, it's a combination of a Stop oder and a Limit order.
Stop-Loss — an order that is used to limit losses. It is triggered to close a position at a given price value when it moves towards losses.
Take-Profit — a type of Limit order that specifies the exact price at which to close out an open position for a profit. If the price of the security does not reach the limit price, the Take-Profit order does not get filled.
OCO (Order-Cancels-Order) — Order-Cancels-Order, also known as One-Cancels-the-Other. A pair of conditional orders. If one order is executed, then the other is automatically cancelled.
OSO (Order-Sends-Order) — Order-Sends-Order also know as Order-Triggers-Other/One-Triggers-Other (OTO). A pair of conditional orders. If the primary order is executed, a secondary order is automatically entered.
minTick — a minimum price movement.
pipSize — size of 1 pip. For the Forex symbol usually equals minTick*10. For example for EURUSD pair: minTick=0.00001 and pipSize=0,0001.
OHLC (Open-High-Low-Close chart) — an OHLC chart is a type of bar chart that shows open, high, low, and closing prices for each period.
Level 2 data — level 2 data shows the supply and demand of the price levels beyond or outside of the current price. This gives the user a visual display of the price range and associated liquidity at each price level.