TWS Integrated Stock Window Webinar Notes

Overview

The Integrated Stock Window is an optimized stock trading window that displays the order book with tradable volume at each bid and ask level. It is a valuable tool for active traders who need to see the prices of larger trades and the size behind the spreads. This stock-management interface combines Level I and Level II market data, real-time charting, and a comprehensive order entry system into a centralized workspace.

  • This dynamic, customizable window includes the data and order management tools a trader needs to analyze the current market, make trading decisions and place orders for a selected ticker.
  • Traders can elect to work with any or all elements including real-time Level I and Level II data, charting, account and trade information, and comprehensive, instantaneous order entry.
  • Create all types of orders from basic limit to complex algos, using the Order Entry Panel along with sub-panels, price buttons and convenient drop-down selection boxes.

ISW Components

The Integrated Stock Window layout is configurable and includes the following panels:

TWS Integrated Stock Windows (ISW)

Quote Panel

The Quote Panel displays market data for the selected stock symbol.

  • Use the Switch View icon in upper right to toggle the Quote display between table view and TWS view.

Book Data Panel

The Book Data Panel displays both Level I and Level II quotes on either side of a real-time chart.

  • When you click a bid/ask price from the Book Data components, the price is reflected in the Order Entry Panel order line where you can set additional order criteria.

Chart Panel

A real-time chart displays between the deep book bid and ask prices. Chart Functions can be accessed from Chart menu or via a right click in the chart.

  • Change time period, bar intervals and other data options.
  • Choose line, bar or candlestick display
  • Add technical studies and indicators to the chart
  • View recent new articles with single click access to headline and full article.
  • Chart can be collapsed or expanded using the arrowheads on top of the dotted lines beside the chart.

Buttons Panel

The ISW includes three Button panels which you can hide or display using the View menu.

  • The Left panel creates new order in the order line of the Order Entry Panel,
  • The Right panel provides single-click access to other TWS trading tools such as BookTrader, OptionTrader, etc. with a single click
  • When a working order is selected the lower “bump” Buttons panel can be used to modify orders.

All buttons are configurable and can be armed for Instantaneous Transmit by clicking the Armed checkbox and agreeing with the warning disclosure.

You can customize the action and the offsets by right clicking on the button, choose Configure Button.

Buttons with an asterisk (*) are set to Instantaneously Transmit the order when clicked. To remove this attribute, de-select the Armed checkbox in the button panel.


Order Entry Panel

ISW Order Entry Window

Enter orders by clicking a price level in the Level II panels, edit order criteria in the center order entry panel, then use the BUY or SELL buttons to transmit.

You can enable the “Confirm order submission” message (Global Configuration | Messages) for an order preview message to appear before transmitting your order.

  • Click a price level in one of the deep book panel components. The order uses the price you click in the level II panel to create the order.
  • Click the Buy or Sell button to submit the trade/
  • Order line tag changes to reflect the number of shares submitted on the underlying.
  • Order row is tagged as “New” if it has not been transmitted.
  • Use the order attributes drop-down arrows in the order entry panel to view/select working orders.
  • Open the sub-panels to create more advanced orders including OCA, Adjustable, Scale and Algos.

See where your own order stands relative to the book. Use Configuration | Settings to set Show pending orders in the book. This will highlight the order in your view of the deep book.


ISW Pending Order in Deep Book Prices

Modify an order


  • Use the order line drop-down arrow to select the order you want to modify using the drop-down list to view working orders. (Un-transmitted orders show as “NEW” in the order line).
Modify orders in the ISW Order Entry Panel
  • Modify order parameters using the drop-down lists and text entry fields or the bump Buttons.
  • When the order criteria have been modified, the REP and CXL buttons become active.
  • Click Rep to request a cancel and replace the current working order with the modified order.
  • CXL will send a cancellation request for the working order.

Your request will not be fulfilled if the working order is executed prior to the marketplace receiving your cancel order or cancel and replace order.

Create a Custom Layout

The Integrated Stock window is also available as an editable, custom layout. Use the Add Tab "+" in the bottom left of the TWS frame. Click Open Layout Library on the right side of the Add Tab dialog box.

ISW Layout Library

Use the layout as-is, or unlock and edit it to make it your own. You can add, remove and re-size tools, and use windows linking to link tools within the layout.