Order Flow Analytics (www.orderflowanalytics.com) | Trading Reviews and Vendors


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Order Flow Analytics (www.orderflowanalytics.com)

  #105 (permalink)

USA
 
Trading Experience: Beginner
Platform: NinjaTrader
 
Posts: 26 since Jul 2009
Thanks: 4 given, 17 received

AFAIK OFA bars has nothing to do with volume. It is a 4 ticks reversal chart, where the direction of the bar is determined only after you get a 7 ticks range (called "probe"), and then 4 ticks reversal.

Say bar opens at 1234.25 goes up to 1235.75, thats a 6 ticks range, so no direction determined yet, next price goes down to 1234, now you got a 7 ticks range, the 7th tick was down, so now a 4 ticks up move will open a new bar.

Cant say it is better than the regular 4 or 6 ticks reversal bars, sometimes it is sometimes not.

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