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DOM_Bands_v1 3 *
Noticed when writing my trading journal (so glad I found this forum, thanks Mike, and all those I've learned from) I was constantly noting the DOM. So, decided to have an indicator that visualized it.

This is ladder based on jtRealStats code (NT downloads) and looks at the ending cumulative volume of bids and asks for each bar. In the code I limited the idx to the 5 levels above and below. Previous postings have noted that a equally-weighted and heavy DOM is one sign of Barb Wire (AL Brooks). Thus, a vaccum for your trading $$$.

COMPATIBILITY:
NinjaTrader 6.5: YES
NinjaTrader 7.0: NO (sam028)


Category NinjaTrader 6.5 Indicators 
 
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Details: DOM_Bands_v1
Category: NinjaTrader 6.5 Indicators 


January 7th, 2010
Size: 2.65 KB
Downloaded: 764 times

Keywords: brooks cumulative depth dom tape volume ztrade101
Comments/ratings
4 * cclsys January 7th, 2010 12:44 PM
Thxs alot. I like indicators that give straight info that is otherwise hard to see (like Vwap and POC etc.). I also look at the DOM alot and suspect this visual translation will prove helpful in learning to read various situations better.
5 * GoldStandard January 9th, 2010 09:18 PM
Nice work and thank you! I'm trying this out now on replay mode.
5 * GoldStandard January 10th, 2010 12:55 PM
Thanks again for this tool. It's interesting to be able to view how the buyers/sellers order relationship changes at certain points.

I ran across a site you might find interesting that is doing some work with order book analysis: tradingphysics.net. They have some interesting oscillators based on level 2 data & claim to have achieved quite a high success rate with them. (i have no association with them)

I have a small request if its not too much trouble. For me it's a little bit counter-intuitive that the Total Buy line goes down when there are more buyers and the Total Sell line goes up when there are more sellers. Any chance you would want to add an option to flip them so that the Total Buy line goes up when there are more buyers and the Total Sell line goes down when there are more sellers? I hate asking for people to do stuff for free, especially when they just donated free software, so if you want to give me your Paypal address I'll be happy to send you a donation as thanks.
1 * anniebee321 April 8th, 2010 04:18 PM
i cannot see any data associated with this indicator?

 
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