Level ii data is unique because it shows more than just the best bid and best ask on the market.

How to read level 2 market data. Level ii shows you the order book for nasdaq stocks, including the best bid and ask prices by various market makers and other market participants. Level ii shows you the best bid/ask prices from each of the many different market makers. While level 1 gives you the first buyer and seller, level.

Introduction video on how to access and use level 2 data in robinhood. Level 2 is a generalized term for market data that includes the scope of the bid and ask prices for given security. For most investors, level 1 data will be adequate for their needs.

Level ii market data shows multiple bid and ask prices from nasdaq for any given security so investors can better determine the availability or desire for a Might look something like this: Seeing the open orders lets you make a more informed estimate about which direction the price of a stock is.

To understand the market depth. It also shows the full depth of displayed orders on the market, including quantities at the. Use bookmap, much easier if you are new to this.

However, for active traders and investors, level 2 data will provide greater market depth and insights. Investors can use level 2 data to differentiate between different market players such as retail and institutional investors. When they know the market makers, they can identify their biases.

The easiest way to get the webull level 2 subscription is to go to “help. Level 2 trading is a tool used by traders to see bid ask spreads and where the buyers. The level 2 market data basically acts as an order book of sorts.