How to Trade IBKR using Sierra Chart

We often get questions regarding bracket orders and advanced trade management for the TWS platform by Interactive Brokers. In this video we will show an advanced trading platform which can connect to your IBKR account for precise short term trading purposes. We want to be clear that this video is not a tutorial on how to configure bracket orders in Sierra Chart. It is a basic video which is meant to show that you can connect and trade your IBKR account using Sierra Chart to have efficient trade management for day trading. We will demonstrate examples of advanced trade management using a Chart/DOM and a Chart in SC while connected to a IBKR demo account. In the video you will see some examples of advanced order management, you need to know that the examples shown in the video did require some prior configuration. Sierra Chart is a software which is best to be used by those who are competent with computers and software, and that have the patience to carefully configure their trading tools.
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The content that this channel provides is intended for educational purposes only. Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. The risk of loss in trading commodity interests can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition.
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00:00:00 Introduction
00:01:41 Info about Sierra Chart
00:02:38 Connecting and referencing documentation
00:04:35 Info about market data
00:05:23 Trade example on S&P 500 futures
00:07:55 The basics for bracket orders in SC
00:09:25 Symbols from IBKR
00:11:21 Trade example on a stock symbol
00:13:43 Conclusion & How to find additional help

[@plateformetrading]

Excellent video. There are so many ways to connect to Sierra Chart. Great.

[@VerrilloTrading]

Thanks for watching!

[@RikimaruNobunaga]

Doing a great job bro for all of us.

[@VerrilloTrading]

Thank you for the kind words

[@captainprice2025]

Rithmic been my favorite feed bc of full levels when i did test it

[@VasiliyGolt]

Thank you very much for your content)

[@VerrilloTrading]

Welcome!

[@JeroTrades]

10:22 crucial piece of info!!!! IB symbol format to trade on Sierra Chart with an IB account connected

[@VerrilloTrading]

Yes but they may have made this easier in recent versions.

[@Rndhld]

In TWS's API section, a thing i do when using third party platforms is to set the ''Logging Level'' to ''Detailed''. That way, in the event that IB mess up a position update, an order or worse: the delivery date of a contract (lol), then you have every possible entry in the log as documentary proof. Reading through SierraChart's documentation and forum convinced me it was the right thing to do hehehe

[@VerrilloTrading]

Great and thanks for sharing it.

[@Kelberi]

you can check IB account status is it not?

[@JeroTrades]

Nice one. Applied. 👍👍👍

[@captainprice2025]

Looks smooth

[@VerrilloTrading]

Thanks Cap'n!

[@Rndhld]

Ohhh, so Sierra Chart now have depth data for equities. I have read all the issues that they have interfacing with IB. I like the fact that they are straight up about it. I'm about a month into testing pretty much all third party datafeed/platform under the sun that can interface with IB and let's say some of them don't provide detailed and honnest information about issues regarding interfacing with TWS API. I certainly will test out Sierra Chart now that they have a specific direct integration of their own with NSDQ. The amount of no non sens software and data you get for the money seems extremly solid.

[@JeroTrades]

How did it work out for you!?

[@rodriguezlam76]

Chris this is awesome content, keep up the work. I am very interested in looking ad scaling out of positions using this now (cause TWS is not good for that), I'll do some reading. Thanks.

[@VerrilloTrading]

Kind words and glad it could help.

[@rodriguezlam76]

@@VerrilloTrading I've been researching and Sierra doesn't have this built in, it would have to be programmed. It beggars believe something as simple is missing in so many platforms? Do you know if Dastrader has this capability? (hot key instant scale out (profit take) of positions?)

[@VerrilloTrading]

@@rodriguezlam76 It is certainly possible to do what you are saying but is not straight forward. I realize that a lot of people ask for this so I will start working on or thinking about a solution.

[@VerrilloTrading]

@@rodriguezlam76 Also, using the scale out functionality in the SC platform you can easily do this. There is no function that will automatically calculate what half of your position is. You should already know what your position size is and easily be able to modify the size of an order. The scale out feature will automatically adjust your stop to be the remainder of your position. Traders used manual ways of trading for years before the development of HFT and automatic trade management.

[@rodriguezlam76]

@@VerrilloTrading I saw a video you did about this but this is not good for quick scalping, too cumbersome. Ross from warrior trading uses what I'm asking about with Lightspeed, not sure he uses DasTrader or something else for LS, all with hot keys. The problem is I have a very small account and don't live in US so need to use some particular brokers only. At the moment with IB but again doesn't have this important functionality.

[@williandellisola5877]

Hi Chris, What platform did you use for futures trading? Thank you!

[@VerrilloTrading]

Hello, I use Sierra Chart.

[@js7301]

Appreciate the video man. I will be using the same setup very soon to more or less exclusively trade futures(NQ & ES) and I just want to be clear regarding the data feed. Are you still using IB data? Or is the Denali data feed all that is required? Thank you for all the content you provide.

[@VerrilloTrading]

If you use SC I would certainly use the denali feed however please read all the important rules and info regarding the use of that data feed.

[@jayyu2174]

@@VerrilloTrading I think he was asking if you are still paying for IB data on top of SC Denali. I am curious to know as well great content btw, very helpful edit: NVM I see you answered this question several times below lol, thanks!

[@moonstriker7350]

So in general your setup is IBKR + TWS or Sierra? +Which sierra package(s) do I need to subscribe to for this setup?

[@user-lv8ce3uu7n]

Hi Chris, this was indeed an excellent video, however I have one question , how are you able to connect separate datafeed and separate trading account to sierra chart. I have IKBR account but would like to use denali exhange datafeed to trade from sierra chart, how is it possible to connect these separately to sierra chart account

[@VerrilloTrading]

Yes it's possible to connect IBKR to Sierra and use the data from Sierra. If you need to connect and trade multiple accounts it is also possible but not as simple to get everything running. You may need to use multiple instances or installations of SC if you trade them at the same time. You can't connect separate data feeds to Sierra, they have their own data feeds. They do allow CQG and Rithmic but I think they stopped supporting it.

[@jonsmith7667]

Thank you for the videos, they are well done. I have a couple Q's for you. Is Sierra able to trade an automated strategy? If not do you have another you might recommend for setting up an automated strategy?

[@VerrilloTrading]

Glad they help. Yes it can, it needs to be implemented using their integrated advanced custom study language. I am not sure if there is another way using a third party method of implementation. The ACSIL trading interface is fast. I have experience using it so if you need help don’t hesitate to ask questions.

[@BorisLibman]

chris - thank you for the video. i don't think i saw it addressed, but what are the settings needed if receiving data through SC and executing orders on IB?

[@VerrilloTrading]

You need to make sure the data is set up with Sierra Chart and then connect to Interactive Brokers. I provided some additional points in the answer provided in the Telegram chat where you asked this question. Feel free to follow up if you still need help.

[@dirks.3797]

@@VerrilloTrading Could you please copy these instructions of your telegram chat here? Many people do not use Telegram.

[@jasperdillbeck6335]

First of all, thank you, your videos have really helped me on my trading software journey! Have you found a way to consolidate equities market depth data for sierrachart? I would like to have market depth from Nasdaq, NYSE, and Amex (like IB smart exchange), consolidated on the Sierra chart DOM, but haven’t found a way to do it, and feel like I’ve hit a roadblock on solving this.

[@VerrilloTrading]

Thank you for the kind words and sorry for the delayed response. I know Sierra released the consolidated time and sales for those exchanges, but there is no support for the consolidated level 2 data yet. It would be a nice addition in the future. Do you subscribe to those level 2 exchanges in IBKR and have you tried to load the symbols in Sierra afterwards?

[@jasperdillbeck6335]

@@VerrilloTrading yes. So I subscribe to all the major U.S. equities exchanges level 2 data that IBKR offers. In Sierra chart I can load one exchange at a time for example AAPL-STK-ISLND, but cannot load their consolidated “smart” exchange, AAPL-STK-SMART, it simply doesn’t display. This issue is recognized by Sierra chart in their support board forum. As popular as Sierra chart is I have not been able to find a work around. Since I wrote my original post I have purchased jigsaw. It’s a bit feature rich, expensive, and more then I need from a level 2 DOM, but it indeed solves all my issues I was having with TWS booktrader. I really hope to see Sierra chart incorporate depth data with the USCT. I know they plan to add Nasdaq total view to the consolidated tape, but I haven’t seen any indication regarding the other exchanges. Sierra chart blows TWS api out of the water with historical download times, so for that reason (and because sierra chart separates bid/ask volume) I also subscribe to the usct. Anyway, I used your discount code on jigsaw, thanks for that!

[@dastrix80]

Chris, did you create that future video on Order Types/Configuration of the Trade section with Sierra/IB?

[@VerrilloTrading]

Not yet sorry. Is there something in particular you wanted to see?

[@dastrix80]

@@VerrilloTrading Worked it all out now :) Thanks for the Sierra charts tip. Shame Sierra has no options trading :(

[@VerrilloTrading]

@@dastrix80 Not natively but you can use interactive brokers and use Sierra to send the orders.

[@enriqueweb4955]

This is a good guide, how good is that Sierra Charts stock data feed? does it include market footprint data for stocks? Thanks

[@VerrilloTrading]

Yes the historical tick data is good and works for populating footprints (numbers bars) and numbers bars calculated values on stocks. You would have to test it.

[@rodriguezlam76]

Hey Chris, you mentioned this is an intro video of SC+IB, you plan in doing a more in depth one?

[@VerrilloTrading]

Sure, what would you like to see me cover?

[@captainprice2025]

Problem with ibkr the api isnt very reliable on order cancellation when i had been clicking way too many buttons

[@johnb8229]

Hi Chris if I connect my ib account with Sierra charts trading cme products using their Denali feed would I pay the cme data feed twice? I am a non pro user. Can I just pay the Sierra chart service fee, cme data from ib and get the fast feed Denali for free ? Is Denali included in their service package?

[@VerrilloTrading]

You would only pay the exchange data fees one time through sierra chart in this case. Denali data feed is included with package 10, 11, and 12. After paying for usage time of the software you pay the CME exchange fees to activate the data.

[@BullBearsCo]

Do I need to buy data at both IBKR and Sierra chart. I only trade the ES mini S&P 500 Futures contract. I am having a hard time understand why I would need to pay for both data feeds. Please help me understand if I can acquire data from Sierra chart only and not acquire data from my IBKR account and have the DOM at sierra run bracket OCO orders. thank you.

[@JamesMcCabe703]

@Chris is there a way to develop a symbol table for an options chain for IBKR in Sierra Charts? I trade one or two Options on a regular basis (SPY and QQQs) and am working on setting up the new nasdaq full quote data feed and order routing through IBKR. Thanks. Not sure if you respond here or where I should reach out to you.

[@VerrilloTrading]

I do not know if it would be possible to achieve this in SC. You can in SC create a quote spreadsheet but I do not know how you would get the option greeks, it would require you to know all of the formulas for those greeks and place them in the spreadsheet. (maybe possible) The easiest would be to use the existing option chain in TWS since it is already performing the calculations for the option greeks. If you are performing trade executions using sierra chart connected to interactive brokers, you need to remember that the options and stock symbols in TWS can be tricky to work with in SC. I provided the links in the description for learning about that. If you needed help you can email me, (find email on the channel about page) but I can not guarantee I will answer fast.

[@JamesMcCabe703]

@@VerrilloTrading Thank you for responding! It's much appreciated. I don't need the greeks. I need to be able to send the proper ticker of the option strike price to trade to IBKR. would like to load into a SC DOM. I can read the greeks I'm interested in from the chain on TWS (for my purposes I look at delta theta and gamma mostly for daytrade). So the real issue is building a quote board like I do for /ES Expriries for the Options on SPY in my case.

[@twinscrazyfunnylove653]

Do you have the OCO and bracket orders stored on the Sierra side or IB side? Meaning, if your internet went down would you not have your orders processed? Sierra instructions say don't have IB managed the orders as it doesn't work well, but sounds dangerous too. I also noticed the instructions appear to infer that IB is the data provider, I can't seem to verify which data service is being used.

[@VerrilloTrading]

If you're using IBKR for trading though Sierra or not it's all stored on IB's server side. Regarding the data it is best to use Sierra Chart data feeds if possible. You can get some data from IBKR through Sierra but it is not very reliable.

[@dirks.3797]

@@VerrilloTrading If I want to daytrade and execute OPTION orders with IB, but want to use volume profile, orderflow, DOM etc. from SC like you showed in the video. Which data package I have to pay for at SC and at IB? (Only US stocks, SPY/NASDAQ/DowJones Index and US stock and Index Options)

[@human1513]

How did you learn of them? I never heard of them but they have been around since 1996.

[@VerrilloTrading]

I guess just by being in the loop, reading and talking with other traders.

[@golden-dragon1442]

Does sierra chart let you trade stock options with this set up? There support forum was unclear about this.

[@VerrilloTrading]

Yes you can trade them, here is one video where I showed some of the data on a chart. Is IBKR Data Good for Order Flow? | Free Footprint Chart Template kzbin.info/www/bejne/aqvTipt-o5qjb5I

[@danielbartosik7434]

Hi Chris. Can I trade Stocks Options on SC (AMZN Call/Put)? Can I do that with IB data feed? Thank you, d🍀b.

[@VerrilloTrading]

You can trade stock options in SC connected to IBKR but there are a few things to watch out for. In this case yes the data for that option will be coming from IB because SC does not have a data feed for US stock options. 2. The symbols can be tricky to work with so make sure you reference the documentation about that.

[@danielbartosik7434]

@@VerrilloTrading Chris, just one question. I have a problem with Options charts in TWS (I have 2048 RAM for TWS). There is a message "attempting to retriever data" and it takes about 20-30s to load a chart. And when I need to refresh it, some candles disappear. How can I make it faster? Is it SC faster in this issue? Thank you very much and have a nice green day🍀.

[@VerrilloTrading]

This is because the platform is built using many components and is simply inefficient. If you try Sierra chart you can load days worth of tick by tick data in a matter of seconds. Loading non-tick by tick data is even faster, SC is very well known for their efficient historical data.

[@zo9fg]

would u do an overview for beginners to get ready to do future trading eg what's Amp and other futures brokers iron beam, rithymic, how to read tpo chart or ur journey in learning them, ie where, how u learn them with links

[@VerrilloTrading]

Good suggestion thanks!

[@TimDuggan]

Is it possible to get the full market depth for 100 bids and asks same as Denali feed but by using CME bundle from IB? Seems like it only gives about 10 best bids and offers

[@VerrilloTrading]

Denali is a data feed provided by Sierra Chart. It is an independent data feed that is meant to work only inside the Sierra Chart software and it provides data for a very large amount of price levels. The data feed you referred to is from IB, that one only provides 10 levels of market depth.

[@onlypencil]

What sierra package is best for basic stock trading?

[@VerrilloTrading]

You would need to learn more about their service packages in order to make this decision. They offer a basic and an advanced package, as well as a few other iterations that include their data feeds and mbo data. The advanced one includes numbers bars and tpo charts which are very useful studies in the software. Please read all that you can on the subject on their website.

[@ernielim2005]

I went to the Interactive Broker website and planning to sign up BUT I cannot find any information in there that I can use Sierra Charts as my trading platform. Can you please help me find the link or let me know IF Interactive Broker supports Sierra charting?

[@VerrilloTrading]

Interactive Brokers does not provide much support regarding the connection of third party trading software to trade an IBKR account. What you would need to do is read the documentation Sierra Chart has created on the subject. www.sierrachart.com/index.php?page=doc/InteractiveBrokers.php The answer is yes it is supported to trade your IBKR account using sierra chart but for the best and most accurate data you would use the data feeds provided by SC. I can not advise you regarding if I recommend this or not, you would need to test it. This is something I plan to test on my side as we get through 2022.

[@couchspud33]

When you link IB to Sierra charts can you cancel your market data with IB and use only Sierra charts for market data

[@VerrilloTrading]

Yes, make sure to find out what data they support.

[@fjoel68]

Do u need to be subscribed to both market data, IB and SC?

[@VerrilloTrading]

No, however if it’s for products that SC does not offer data for (options) then you would subscribe to it through IB.

[@fjoel68]

Thanks. I only want to trade futures so which market data is cheaper, IB or SC?

[@ilansagy]

Hi Chris. I like your videos. Level of details and helpful tips. I find IBKR is a great broker for Stocks' trading though will appreciate your thoughts on two things regarding Futures: When being with an SMB account (non-US), the data costs are much higher than individual's retail account. Could you recommend which broker with Sierra integration gives the best of costquality (again, as SMB) for Futures? As I've been told IBKR is less suitable for Futures due to consolidation of the Market depth's data (?) once used with Sierra.

[@VerrilloTrading]

Hello, we do not know what is meant by SMB. Data costs are mostly set by the exchange and they have two pricing structures, professional and non professional. The non pro rates are much lower. Regarding your last point, no matter the broker you use while having SC as your trading platform it is recommended to use the data feeds provided by SC. What you mentioned about the IBKR data is true it is not the highest quality tick by tick data. You can however trade an IBKR account through SC and use the Denali data feed as your market data. The trade service and market data are totally independent services.

[@ilansagy]

@@VerrilloTrading SMB = Small medium Business. Having the trades under a legal entity. Unfortunately, IBKR marks such accounts as Pro, although being a one man company and trading as a rookie.

[@vineetverma4547]

Hello Chris! If someone is in India. iBKR is available in India but how can a trader in India use Sierra with iBKR where exchange data is from local India exchanges MCX, NSE etc.

[@VerrilloTrading]

You would first need to know which exchanges you intend to trade. If they are Indian stock exchanges then I know that Sierra Chart does not provide market data for those. If you still want to use Sierra to execute trades in your IB account you can connect it to TWS or IB gateway and the market data will be streaming through TWS into Sierra.

[@_WorldOrder]

Can you make a video on how to trade options with sierra charts and ibkr ? do i have to get the options data from ibkr but how to then trade in sierra charts. kindly reply

[@VerrilloTrading]

I have marked it as a future video request! Thank you.

[@_WorldOrder]

sir sir thank you so much !!

[@Victorluca1290]

Can you Trade options on sierra?

[@VerrilloTrading]

Yes with Interactive Brokers.

[@SuperGenius002]

can i connect with sierra chart acount of interactive brokers?

[@VerrilloTrading]

Yes.

[@golden-dragon1442]

I followed these instructions but after I set up everything on sierra chart and check the dom it seems to receive data from interactive brokers and not sierra chart (even though I purchased data on top of the package 11) not sure how to fix it so I execute with sierra chart to IB and have data from Sierra chart not IB…

[@VerrilloTrading]

The Sierra Chart data is only for specific exchanges, that's one thing to know. Also you need to pay and activate the data for each exchange in the SC account control panel.

[@captainprice2025]

Support board responses are hilarious if they piss em off

[@non-randomwalker4579]

Do you think sierra chart is better than DAS?

[@VerrilloTrading]

My opinion is yes by a very long shot. Though I never used Das myself so I could not comment on certain things like their data feed and execution tools. The kind of things that are possible with SC imo is far beyond all retail platforms but to get to that point requires hours of study and work. For basic stuff I think it is still better. Please do your own testing.

[@lipostube]

Hi, it's me again :) I asked the questions! Mom look! I'm famouse! :)

[@VerrilloTrading]

Lol, welcome!

[@captainprice2025]

Its more of tunnel like interface for slow execution not something that i would recommend in rapidly changing market

[@zo9fg]

why is it so hard to trade options on sierra? the learning curve for learning sierra is too steep that I give up, too much customisation options stress me out why did u say ibkr market data not as good as Sierra? it's cheaper!

[@VerrilloTrading]

Regarding the 2nd question, do you know what tick by tick data is? That's the first reason, the other is about the precision of the historical data including the recent bid/ask data.

[@thechessmaster9291]

So because IBRK interface sucks like hell , you must use other interface ?

[@VerrilloTrading]

It is up to the individual user to decide. There are advantages associated that would make the difference for users that require it.

[@lifewcj1264]

maybe they should hire customer support so their engineers don't have to answer questions. LOL

[@VerrilloTrading]

It could take a lifetime to train someone in customer support for Sierra Chart. The entire software is built from scratch and has many layers of functionality.

[@lifewcj1264]

@@VerrilloTrading Thats part of running a business. OR. make their tutorial stupid proof so people don't ask questions. If that can't do either of the above then it just comes down to being lazy & not wanting to spend more time on their Saas.

[@TheShade247]

IBKR tws is junk, it needs to be built from scratch

[@VerrilloTrading]

Lately it seems they have put more development into the web based portal.