Thin Spot

From: $9.99 / month

Identify institutional trader price levels to capitalise on their trading power

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Not all prices are equal. The market will sometimes spend a lot of time in price areas ('acceptance', 'balance') as this range of prices is acceptable to many buyers and sellers. When price is rejected or a market moves out of balance, prices will be passed over quickly and not much trade is facilitated. Depending upon the tools used to analyse the market, we may refer to these areas as low volume nodes or if no trade has occurred in these areas, gaps. The Thin Spot indicator allows 'low volume' on the bid or ask to be defined as a percentage of the total bid or ask volume traded within the bar and will highlight these price levels that have experienced low volume on the bid (or ask) and a corresponding imbalance on the opposite side of the trade.

The market exists to facilitate trade, discovering prices where buyers and sellers can do business with each other. If the market finds a price level unacceptable, when price next approaches it, we may well again reject it quickly, passing through it or back away from it.

The Thin Spot indicator highlights prices where the market's traded volume is showing us an absence of buying or selling. These areas are indicated by an EmojiZone. With the knowledge that these prices are likely to be rejected or defended, we can regard them as areas for potential pullback entries knowing that price is likely to move away from these areas quickly or as near-term price targets if we are holding a position and price is moving towards one of these prices.

Thin Spot may be licensed for Sierra Chart on a Lifetime, 1-month or 3-month basis, or as part of the complete Emoji Trading Order Flow Suite. Licences include all indicator updates and enhancements during the license period.


Input Name Description
Thin Spot Volume % Enter the percentage filter below which volume traded on the bid (or ask) as a percentage of the bar’s total volume traded on the bid (or ask) will be considered as a Thin Spot.
Imbalance % The percentage level used for diagonal bid/ask volume imbalance calculations.
EmojiZone Mode Please refer to this link for EmojiZone documentation.
Select whether the EmojiZone is set to: Disabled, Fixed Projection, Extend Until Future Intersection or Dynamic Support/Resistance Display.
EmojiZone Fixed Projection Distance Specifies the number of bars from the current bar that a Fixed Projection EmojiZone will be drawn.
EmojiZone Extension Line Label Specifies the line label (can be left blank) for an Extend Until Future Intersection EmojiZone line.
EmojiZone Dynamic Break Threshold When using a Dynamic Support/Resistance Display EmojiZone, this input sets the number of ticks by which the zone can be breached without it being regarded as having broken.
EmojiZone Dynamic Evaluation Levels If set to 0, every current EmojiZone is evaluated at each study calculation. To reduce processing time, a non-zero value will limit calculation to the nearest n EmojiZones to the current price where n is the value entered in this setting.

Use the Color, Width/Size and Transparency Level for Fill Styles inputs to customise the appearance of this indicator’s EmojiZones. Please refer to this link for the EmojiZone documentation.

ID Subgraph Description
SG1 Lowest Thin Spot Bid Price The lowest price level within the bar at which there was a thin spot. Provided to support the development of automated spreadsheet and ACSIL trading systems.
SG2 Highest Thin Spot Bid Price The highest price level within the bar at which there was a thin spot. Provided to support the development of automated spreadsheet and ACSIL trading systems.
SG3 Lowest Thin Spot Ask Price The lowest price level within the bar at which there was a thin spott. Provided to support the development of automated spreadsheet and ACSIL trading systems.
SG4 Highest Thin Spot Ask Price The highest price level within the bar at which there was a thin spot. Provided to support the development of automated spreadsheet and ACSIL trading systems.
SG5EmojiZone Properties