All
I get asked many times what the best settings are for the various alerts in the Jigsaw Tools.
Here's the best way to set them:
Summary Tape
Divergence - Take the average depth & multiply by 2. So if the depth on average is 400 per level, use 800.
Iceberg - This alert is mostly self tuning - but to cut out the irrelevant stuff, just use the average depth
Large Qty - Take the average depth & multiply by 3
Recon Tape
Block Trade - This one is more of a trial and error thing. I would initially set it to 1-2 times the average depth. I would expect to see multiple block trades per hour but not multiple block trades per minute. So if you get too many/too few - adjust accordingly.
Now - this might sound a bit like curve fitting but the reality is you are looking for exceptional size that occurs through the day. If it occurs too often, then it's not exceptional. If it doesn't occur at all, the limit is too high.