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Best of the Best Order Flow Analysis add-on for Ninjatrader 8 x64(and for Motivewave)
I mentioned in my post that I am not an order flow trader and I'm not, so I don't have any advice on what to buy or try out. I was simply responding to your post as I understood it and echoing @tr8er's points about finding a platform that works for you, not necessarily what anyone else thinks is best. I still believe this is good advice, for order flow and anything else.
I am glad to read that you have experience with some order flow tools and so have a basis for evaluating your needs. I still think it would be a good idea to search out existing toolsets and see if they have a trial offer. I know that free trials are often available in the trader software industry for user evaluation. (And I don't have any suggestions; as I said I do not use order flow and have no acquaintance with the order flow tool market.)
Perhaps with your requirements having been better defined, someone with the relevant experience can jump in with concrete suggestions.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Thanks. This post is a most summarized version of my researches for AlgoX for Order Flow Analysis. I searched about Order Flow tools and Order Flow Analysis for NT8 and Motivewave-Ultimate. As my first post stated an application/add-on for NT8 and Motivewave-Ultimate name AlgoX Order Flow Analysis for a Total of 1,249.00 USD, I saw it is the same that on the internet is named for DB/Donald-Vaello's Order Flow Analysis, and posts here https://twitter.com/OFAPioneer and here
The website is OrderFlowAnalytics.com I seen a little webinar for them selling there system. It seems pretty cool, they say volume leads price. They have this certain volume indicator that they made. I was wondering if there was anyone here who actual …
D.B. Vaello, the President of Order Flow Analytics, will be monitoring this thread so that he may answer any questions that you post here relating to OFA products and services.
Please keep in mind that some customer service/technical support issues are …
belong to him and his company and his software and add-on. In one thread opened by Mr Big Mike for this AlgoX Order Flow Analysis, the thread closed, does this mean he is excommunicated here?
And the other user's post mentioned above has negative points of someone spends 5000USD for license and his license revoked for insignificant reasons and product ower's answers have seemed rather a response to the customer in an unprofessional manner. But I feel this Order Flow Analysis is the only one in its class that integrates into MotiveWave-Ultimate and Ninjatrader-8 with this level of details about Order Flow?
I shall mention that I have Multicharts 14 + ASP but I didn't found any professional Oder Flow Analysis add on for this platform either?
Mr @bobwest as a fellow member here, while I know you are not an Order Flow trade as you mentioned, would you please advise me whether if this DB/Donald-Vaello's Order Flow Analysis, AlgoX for a Total of 1,249.00 USD is a real deal and vendor if it's trustable and reputable in your personal opinion, please? And kindly do you recommend this AlgoX to me that worth purchasing it for a total of 1,249.00 USD or not?
1) A basic search on "Motivewave" in the main forum-wide search box above surface twelve forum threads that mention Motivewave. Some of those are probably very old and others not as much.
I recommend reposting your request for a current report out on Motivewave in those forums or sending a few PMs to the most knowledgable and current looking Motivewave users in one or more of those threads as better hunting ground for input on the vendor.
2) If I were researching any vendor I would look to hopefully gain a lot of insight on many aspects of product and people's respect for the vendor from the vendor's support forum.
3) Think we might have walked right past something important higher in the thread.
In most of the replies above tr9ere, Bob and I were all encouraging you to define or discover if it is not yet known a narrower, crisper set of business needs (your needs) to use to evaluate options and select a tool/define your next steps.
".. something important higher in the thread."
Several times above you mention FX trading
" ... if they are the best combinative tools of the best for Order Flow Analysis in the market for FX trading?"
Eureka! That's it.
That is the narrower scope requirement the removes much ambiguity from your quest.
With no central exchange Order Flow Analysis on FX is notoriously difficult.
If FX is your primary target I would re-post the title to include the terms FX or Forex or just start a new thread with a more Forex centric theme throughout.
Regarding #1, I posted on the 'Motivewave Experience' long thread here of this forum and no one replied? I'm shy to PM someone who didn't reply to my post in a friendly manner if you know what I mean? I'm shy to PM a stranger as well?
Regarding #2, I don't know if the OFA+AlgoX for Motivewave and Ninjatrader 8 does any support forum or not? I'm speaking about the add-on's forum for OFA+AlgoX? Also, the general support forum's of vendors are Biased and it can't give me an independent unbiased vision of the vendor? In vendor operated forums, the vendor shut the unwanted voices mainly.
I don't get you if you are speaking of the Motivewave forum or OFA+AlgoX's forum. Motivewave is a reputable vendor in my book and I trust them, besides they have pricy annual maintenance of 295USD for the Motivewave-Ultimate purchased platform, they are positive on other aspects for me.
What you post its link above is the actual Motivewave forum and not the OFA+AlgoX add-on's forum for Motivewave and Ninjatrader 8 for product here https://orderflowanalytics.com/add-on-modules/. I understand that what you trying to say, but as the Motivewave forum is deserted and only a few online users exist, there is not much of a hope of getting an accurate answer there? I posted my questions there before about OFA+AlgoX for Motivewave and Ninjatrader 8 and there wasn't a single helpful answer that I was looking for?
Regarding #3, this forum is dedicated to more Futures traders, and mostly Ninjatraders. By adding Forex and Motivewave-Ultimate I lose most of my thread's audience as they trade mostly Futures by Ninjatrader and they skip my post.
I'm looking to find out what is most used on the futures market or in Ninjatrader 8 or both for Order Flow analysis and then find its equivalent for Motivewave-Ultimate or Multicharts 14 +ASP as they are looking more advanced for me than Ninjatrader 8?
I'm thinking about best of the best and more accurate Order-Flow tools, and I don't know if I purchase full license of Jigsaw-trading platform for Order flow or full license of Bookmap or full license of Ninjatrader 8(I use NT8 on backtesting license) for Order-Flow analysis, will they worth the price of few thousands of dollars?
And in the meantime, I'm looking for if I purchase an add-on for Motivewave-Ultimate or Multicharts 14 +ASP wouldn't I have better tools for lowe costs like by purchasing OFA+AlgoX for Motivewave Ultimate for ~1249USD?
While an advanced charting platform like Metastock-RealTime costs ~1300+ USD or Ninjatrader-8 for a single broker like IB costs 1000USD(NT8 full license have few Order Flow indicators like Multicharts 14 +ASP), thus will it be worth betting on an add-on like OFA+AlgoX for Motivawe-Ultimate for a price of 1249USD if you know what I mean?
Thanks. I never tried Jigsaw full platform and Bookmap full platform, but as I see in the videos, they have some order flow analysis as equal to what there is in the Multicharts 14 +ASP(Full license) as Volume profile, Volume Delta, Cumulative Delta, TPO etc?
I have Motivewave-Ultimate and it has its own Order Flow Analysis tools as here are just examples:
Are the Jigsaw and Bookmap offering higher Order Flow Analysis than both of Motivewave-Ultimate + Multicharts 14 together? If not, then something like OFA+AlgoX add-on for Motivewave-Ultimate or NT8 could give me higher Technical Analysis than these two jigsaws and Bookmap individually or together?
I appreciate your comment and concerns, but I'm looking for the best of the best and most accurate Order Flow Analysis package that I can purchase to expand my Technical Analysis beyond what I have (I have NT8, Multicharts 14, Motivewave-Ultimate)?
Due to the lack of a central exchange and general shorting of order flow information for FX transaction that if your intended markets are primarily FX that completely changes the conversation from what is app to
"What Order Flow tracking is pragmatically possible for FX?
What are the best examples of people tracking Order flow for FX or using proxies to mimic/imply FX order flow, and what is their combined software, platform, infrastructure and broker solution?"
Thanks. May I ask what is these questions? Have they previously discussed topics in this forum or other forums? or just some questions to make me get your points, please?
I get half of what you said in terms of research and analysis for Order Flow on the Forex decentralized market. I think I shall clear up about Order Flow and Forex that I'm looking for. As I agree with what you said about decentralized market's Order Flow is something that is difficult to find, but wherever there is an Order Execution, there is also a Flow, I call this term Order Flow in my terms.
I want to see beyond candles, inside of candles with respect to Volume Analysis. But most accurate Volume Analysis one.
I believe e.g. Goldman Sachs have a dark pool called Sigma X, while I believe they provide liquidity to the Forex market, their dark pool is connected like every other dark pool to Order Execution matter in some aspects. Considering every ECN broker is MM is some levels internally. Having a tool to analyse a Volume pattern in respect to the execution, Bid, Ask, Trade volume is how I see my version of Order Flow.
In my terms, Order Flow Analysis is neither gives entry nor exit for a trade, but its a tool that by its own specifications have no value but a tool that can be used alongside different Technical Analysis tools to give me the most accurate general idea of how these Order Execution going in the dark pools in broker or out of broker between brokers and Clearing-house.
When I don't do the Order Flow Analysis, I don't see the Technical Analysis as accurate as it should be.
The Orders in the decentralized market have their own Order Flow in my terms, which is different from Futures Order Flow, but its general idea of Order Execution in relation to dark pools. Thus it's necessary for me to find the best of the best and most accurate tool for this.
I understand what you said, but in my vision going along with your explanation, there shall be different Order Flow tools one for Futures and one for Forex, but e.g. Stochastics is Stochastics and I never heard that we shall use different Stochastics than what we use in Forex trading vs Futures trading? As your Technical Analysis idea mean to me that I shall look for totally different Technical Analysis tools for Forex than what I use in Futures? While Metastock R/T, Multicharts 14, Motivewave-Ultimate and Ninjatrader 8 x64 are used equally in Forex and Futures trading, but the only thing that is different is how the strategy gives Entry and Exit that may differ from Forex to Futures, if you know what I mean?
A tool is a tool, the same tool if it worked for NT8 and generated accurate results, if it has MW-Ultimate version, this could work on MW-Ultimate accurately as well(on developer developed two versions of the same addon, one for NT8 one for MW-Ultimate)? If an Order Flow analysis worked on the Futures market, it can be used on the Forex market by different terms as well?
I don't know any forum to ask questions and get a relative answer for Advanced Forex trading Technical Analysis etc, as I asked questions in different forums, the answer was not relevant and this is a Futures forum and I don't think there are many Forex traders gathering here?
My initiation about your statements could be wrong and this was just my understanding and my vision and concept of Technical Analysis Research in Order Flow Analysis?
I'm confused further, and still looking for the Order Flow Analysis's accurate measure for part of my Forex trading Technical Analysis?
Only if you decide you need to in order to accomplish your goals.
In some forum somewhere I saw a discussion on mitigating the lack of a central exchange by either proxying global Order by switching to the broker with the largest Order Flow for a specific pair buying multi-broker integration bridges like from westernpips.com, setup up account connections at 10 FX brokers and building their own limited central repository of FX Order Flow.
You will need only as many tools as you will need. I raised this as a concern area partially because of NT8's very limited FX broker capability. If you have all the Order Flow transaction visibility you need from the FX brokers your NT client will connect with they maybe you do not need any separate investment for FX.
If decide that you need to connect to a specific FX broker none of your current tools will let you connect to, or connect to well enough then you would need new tools.
Good post.
" to give me the most accurate general idea of how these Order Execution going in the dark pools ...""
AFIK even for stocks with central exchanges generally Dark Pool transactions are not visible until the end of the trading day or sometime a day or two after that. The problem is hard enough to solve without having to include Dark Pools so my responses will ignore Dark Pools until the easier (but still difficult to solve) layers are resolved.
" to give me the most accurate general idea of how these Order Execution going in ... broker or out of broker between brokers and Clearing-house.""
This is the crux of the challenge of Order Flow with regards to FX. Gaining near real-time visibility to enough of the FX transactions for a specific pair for Order Flow Analysis to be meaningful.
Without near real-time visibility to the majority of global FX transactions for a specific pair is it possible for any tool to know and present meaningful Bid Absorption, Bid Imbalance, total Bid and Ask range, Bid and Ask Histograms?
From the sum of my life experiences the approach I would take is to:
1) First identify how your going to get near real-time visibility to enough of the FX transactions for the specific pairs you most care about for Order Flow Analysis to be meaningful.
2) Second, expecting the first step to have introduced a number of account and technology constraints I would define the overall project and tech stack including the applications I will use for Order Flow Analysis.
Assuming Order Analysis (OFA) capability for FX is very important to you then given A) the difficultly of gaining visibility broad enough FX transaction details to execute meaningful Order Flow Analysis and B) NinjaTraders limited FX broker connectivity capability then I have been recommending that you not finalize your Order Flow Analysis tool selection decision until step number 1 just above is complete.
Possible easiest path to at least partial capabilities ... Volume Price Analysis (VPA)
A related set of capabilities that requires good visibility to how volume is changing over time (which I believe is more available from some FX Brokers than the broader transaction history required for OFA) is Volume Price Analysis (VPA).
VPA requires visibility to changes in volume ... but not necessarily visibility to all of global FX volume. My thinking is that if your connected to one of the biggest FX brokers for a specific pair and that broker does a good job of providing you with volume then you just might have enough to use the volume from that FX broker as a proxy for global volume and take full advantage of the VPA tools.
Here is the conversion of the indicator. There is a lot to this one.
I had to adjust some of the plot locations as they overlapped. Also, I changed some of the text colours so they are visible on a black or white chart background.
