Introducing Spread Monitoring

Hi traders,

As many of you know, with the introduction of order books, there has been considerable price action taking place underneath the surface of the Buy Price, in part of the Bid zone. The Buy price may remain unruffled, unchanged but the Sell price (and with it the spread) can see furious movement which BuzzBot has not been able to detect, until now.

Spread Monitoring

In our new #premium_spread_alerts channel on Slack, BuzzBot will be looking at all the latest big spread changes and report as they occur, so you can see where the price movement is happening.

It works very similarly to the current #premium_price_alerts channel, using a lookback window of 60 minutes, Buzz compares the spread now with then and posts when the spread has moved by a certain % or more.

So in the example above, we can see from the alert that Ndidi’s spread has closed/tightened from 26p to 5p between the Buy price and Sell price. This will indicate bidders driving the sell price up as they compete to lure in the sellers.

We can also see spreads widening like Amine Gouiri. His spread has increased/widened from 5p between the Buy and Sell price to 9p.

Alerts will come through every 15 mins with a 60 min look back window.

And Very Soon…..MyPort and MyList Spread Notifications

Oh yes!

Over the coming days, BuzzBot will begin monitoring spread changes for the players in your MyIG portfolio (myport) and watchlist (mylist). The ever-vigilant Buzzbot will be scanning the spreads for the players you are holding/ watching and alert straight to your phone when there is a big spread change, just like you receive for price alerts.

See an example below which shows spread now versus the spread previously. The price move notification will also let you know the current player Buy price.

Does this replace Buy price notifications?

No, because quite simply a lot of action still happens above the surface i.e. movements to the Buy price itself as last weekend proved.

Instead, spread notifications complement the existing Buy price notifications rather than replace them, so you can keep informed about big moves both above and below the surface of the Buy price. On some occasions, you’ll find both of these happening at the same time and Buzz will be sure to let you know.

And finally…

As I’m sure you are all aware, the market has been experiencing some flux over the past few weeks. This has made our job tougher in terms of creating the correct trigger notifications for spread changes so that it remains both useful and not too noisy. This new feature remains a work in progress as we look to improve the alert mechanism as the market continues to change. Your feedback here in making this even more awesome will be very much appreciated.

If you have not setup MyIG yet – our portfolio management system, see everything it can do for you here and then watch our tutorial here to get setup.


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Written by IndexGain
IndexGain, the Football Index Fan Community. Here to maximise your trading potential with player news, price moves and trader discussions.  
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NEW: Introducing Spread Alerts & Notifications on Slack. Find out more here.
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