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I am new for the orderflow world. Just curious, can orderflow / footprint chart help for day trade to determine at Support level, there is a Strong BUY/Support?
Also, is NinjaTrader 8 a good tool for reading the footprint? Can NinjaTrader 8 support stock orderflow / foot print as well? For the martet data, do I need to purchase extra or NinjaTrader will provider it?
Just because they only have lifetime license, not even trial, really want to get more info about it b4 purchase.
thank you all! Appreciate all the helps. Great community.
Can you help answer these questions from other members on NexusFi?
I have moved this thread to the NinjaTrader subforum, from Trading Reviews and Vendors, since it pertains to NinjaTrader.
Also, I am deleting a duplicate thread you opened in the Platforms and Indicators section. Please do not create duplicate threads, as it makes the discussion hard to follow if the same topic appears in different locations.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Hello Byronsun.
I don't trade stocks, so I can't offer any suggestions from that standpoint. I'll will offer my 2 cents with respect to your other questions. Hopefully, some of it may be helpful.
I purchased a NinjaTrader 8 lifetime license a little over a year ago. The OrderFlow+ package was included, but I was not interested in order flow at the time. I have since done a 180. Ninja calls their order flow bars Volumetric bars. And I wouldn't trade without them.
Order flow bars take some getting used to. Once you do, you'll clearly see at every price level whether the buyers or the sellers are more aggressive. I think you'll also find them to be helpful locating support and resistance levels.
My biggest complaint with NinjaTrader, and this is VERY IMPORTANT, is that they limit you to about 6 brokers, including their own. For stocks, you have to choose between TD Ameritrade and Interactive Brokers. If you wish to trade futures as well as stocks, Interactive Brokers might be a nice fit. I assume they are available in Edmonton. Otherwise, I would suggest you shop for a platform that is compatible with your current broker.
I briefly considered switching platforms, due to Ninja's limited choice of brokers. The platforms that caught my eye were Motive Wave and Optimus Flow.
@byronun, some random thoughts... given your comment about new to orderflow, might want to check out Jigsaw (has a free trial I think, and if that allows access to the Jig chat room you could see more firsthand, and ask real time users.) and/or Bookmap to first see if OF is a go. Also if use Search box on fio for “orderflow” might bring up other edu threads and recommendations from experienced OF posters. If OF yea/nay? is first question certainly no reason to buy lifetime license for now.
The link below doesn't address your questions but may you may find more info in that thread. (NT can also link to TDAmeritrade/thinkorswim, but I don't know who else)
“.... https://www.kinetick.com/ is what we recommend for stock data feed for NinjaTrader. “
Depth Map will only use 1st level of depth when using equities, this is not a limitation of the feed itself. That said, www.kinetick.com is what we recommend for stock data feed for NinjaTrader.
