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Spike

A "spike" is a quote that substantially deviates from the market price. It may look like this:

A "spike" is a quote that substantially deviates from the market price. It may look like this

A "spike" has the following characteristics:

  • A significant price gap
  • A quick price rebound
  • There wasn't any rapid price movement before it appeared
  • It wasn't triggered by a news event

Please note that our definition of "spike" differs from the traditional definition of the word: a rapid change in price.

There are two primary reasons for non-market spikes:

  1. Technical failure
  2. A single transaction that enters the system by mistake

The second scenario may occur, for example, if an instrument is sold at a price significantly lower than the market price. After a trader jumps on the price and places a Buy order, the price will no longer be available for other traders, but will be recorded in the information system. If a trader does manage to make a trade at a spike on their live account, the trade will be voided and the spike will be deleted from the quote archive. These orders, however, will not be deleted on demo accounts.

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