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What's the difference between OEC and Jigsaw's dom?
I was just curious what additional features Jigsaw has in comparison to OEC's dom. I know some stuff is missing. I'd prefer people who've used both to be able to answer but I know that may not be possible so I'll show a picture of the OEC dom. I'm not sure if all the features are added to this dom but most are from my knowledge.
I've watched a couple webinars on orderflow but I'm not familiar with Jigsaw's dom or all the aspects of order flow and was wondering what are the necessary components for basic order flow. Can this be achieved with OEC's dom?
I'm trying to find a diagram of all the necessary components for order flow analysis but I can't find one. Here's a very small blurry one I found on google but I can hardly read it. If someone could make one I'd highly appreciate it.
I appologize this type of trading isn't my expertise but I want to learn, Thanks
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The following user says Thank You to DavidHP for this post:
Okay, looks like Mike asks a lot of good questions about what is displayed specifically on the tools in this webinar that I'm currently watching
I guess I'm still trying to figure out what exactly is the use of the two columns in the center, the snapshot, and the two gray columns on the far sides. (Not referring to the reconstructed tape or the volume profile stuff).
For the most part that's what I see is missing on OEC.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
The following user says Thank You to Itchymoku for this post:
Well I see how the inner columns show the actual orders that are hitting the bid and ask as opposed to orders resting which shows confirmation of intent. I see that the snap shot shows the change in the depth as people add or remove orders before they are hit. I guess the snap shot would show spoofing or maybe even the inner columns compared to the market depth columns. I don't believe there was an explanation for the outer grey columns but from what I observe they're the bid or ask orders that went through since the dom has been reset since they only increase in value. I understand that the histogram shows areas of absorption and coincides with volume profile concepts. How all these components can be used in conjunction to one another I don't know exactly but from how it's suggested it takes time.
I do find it a little disappointing that these tools can't really be used efficiently on forex, most equities, and thin markets like CL, GC, TF, or NQ, but I guess the ES would be a better substitute for indices. I don't see how it would be possible to even read the dom properly with NQ considering how fast it moves during the first hour or two.
So I guess the answer is NO, order flow can't be observed properly on the OEC dom however X_trader's dom doesn't seem to have all the columns in a lot of the picture I see and I heard it's used for order flow so idk. I have seen some pictures of x_trader with the extra columns but I don't know if people use them since I see a bunch of the doms spread out with no charts on the screen shots.
here's an example
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
The inner orders are the those hitting the bid and ask and the current price level.
The outer ones are the bid and ask volume, e.g., a split volume profile.
I had these same questions and found the answers on the Jigsaw blog videos look for the one for the current version of the software.
I did end up buying this and am still learning it.
I see traders all day long using DOMs on every market to trade, I think if you're trading order flow once you've learnt it (over a long time) you can use any dom (granted some may be more clear/feature rich than others).
Do you find those extra columns absolutely imperative to figuring out what's going on regarding order flow or do you think it's possible to trade effectively without them?
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
In a word - yes. Its just very useful in my method. I was trialing a few products and chose this. I'm still learning but I prefer more information than less, and have the choice to filter it myself. If you want to know do the same try them all and see where you find the value.
Hope that helps.
The following user says Thank You to sands for this post:
looks like John Grady uses the histogram, the depth, and just the inner columns for the dom. So I guess the inner columns are essential for what he does because its in all of the videos on his site. But yes, I understand what you mean you'd rather have more information then less because it's better to have something when you don't need it, than need it and not have it.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
The following user says Thank You to Itchymoku for this post: