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  #1 (permalink)
Melbourne, Australia
Experience: Intermediate
Platform: NT8, Multicharts,Sierra
Broker: CQG, IB
Trading: YM,CL,GC,6E,6J
Posts: 97 since Mar 2013
Thanks: 83 given, 60 received

Hi All,

Has anyone else tried DataTraderPro ? ( Datatraderpro Market Internals Trading S&P500 Nasdaq DowDataTraderPro)

It's a newish web based service supposedly offering a more in depth perspective on market internals and block orders.

Very curious to see what others have made of it.
I've signed up for the free trial as I'm trying to get a better feel for internals. My primary tool at the moment is a combination of NYSE Tick and AD lines.

Happy to give my own unbiased thoughts after I've used it for a few days.

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  #3 (permalink)
Gits (Hooglede) Belgium
Experience: Master
Platform: NinjaTrader, Proprietary,
Broker: Ninjabrokerage/IQfeed + Synthetic datafeed
Trading: 6A, 6B, 6C, 6E, 6J, 6S, ES, NQ, YM, AEX, CL, NG, ZB, ZN, ZC, ZS, GC
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Posts: 2,991 since Sep 2013
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Seems very anonymous, no name, no company, no telephone number, no address
my two cents, might be Australian

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  #4 (permalink)
Melbourne, Australia
Experience: Intermediate
Platform: NT8, Multicharts,Sierra
Broker: CQG, IB
Trading: YM,CL,GC,6E,6J
Posts: 97 since Mar 2013
Thanks: 83 given, 60 received

I've used DataTraderPro for a few days now and can provide some initial thoughts.
I certainly have not mastered all the tools but I have focussed in on three pages that have been helping me during the RTH session of ES.

Those pages (in reverse order) are:
1. A sector map, showing the usual market sectors, as well as commodities, metals and the US$. This one updates live from 8am ET and I use it just to get a feel of how the market may open and also to see any significant changes during the morning.
2. A block trades page. There are separate pages for index ETFs, commodities and metals but I'm currently only interested in ES. The reason I think this one is useful is that a lot of institutions are putting big trades through ETFs in addition to/instead of futures. I know there's arbitrage etc involved but if you get confluence between the ETFs for ES, NQ, TF at eg around the current lows and then price moves up a fair bit it can often be a very good clue. It's also useful that it updates in pre and post-market.
3. An internals trend page. This has been the most valuable to me and is my main page within the DTP website. For that reason I've attached a screenshot of yesterday's trend page. This one has three proprietary tools I haven't seen elsewhere - it's got a day type "estimator", a buying pressure gauge and their own version of the McLellan Oscillator. With the day type it uses the internals price action of the first 45 mins to gauge whether this may be a trend or range day and if a trend, which direction. Yesterday it did signal a bullish trend day but there was an instance last week where there was another trend day and it signalled a range day. Re the McLellan, I've tried to create my own McLellan previously but with rather limited success and I've been using this one to help me better understand my raw TICK chart. I do not like too many nuances in my trading so if it does help with the TICK I'll be happy. However, it's early days and I need a lot more testing. My favourite tool on the page is the weighted buying pressure gauge as this has clearly provided a good feel on the battle between buyers and sellers of underlying key stocks inside the ES and I haven't seen anything similar on my travels around the web. The reason I like it is because I don't see it as one of those complex derivatives of price of one instrument. Instead it seems to be more an arithmetic relationship between buying and selling on a selected list of stocks. Again, I've tried doing this myself (create a list of key stocks and watch them during the day) but it's painful and requires about a hundred sets of eyes.

In summary, bearing in mind I've only used it for a few days, DataTraderPro has had practical value to me and I'll keep my subscription for a bit longer. The best example was yesterday morning when ES was balancing just under its highs at what was a key selling zone for me (based on my analysis). When I saw bullish trend Day Type and I saw zero weighted selling pressure I had to do a double take. It's not the individual loss that it saved me that's important. What was more important to me was getting me to question my reading of the market and seeing if I was missing something important. It's too easy to get into a fixed mindset and sometimes I need an objective tool to help me open up that mindset. Just my two cents.

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  #5 (permalink)
Experience: Beginner
Platform: NinjaTrader
Broker: None
Trading: ES, YM
Posts: 40 since Aug 2009
Thanks: 19 given, 13 received

It is a fair price. Reminds me of a site VSS2000 that with the radars that i used to use in the early 2000s.

Having said that some tools on here by Cory and On Balance Volume and Wayne Whaleys Market Thrust not only tell you those type of thing but potential reversal area.

But least it is not one of those give us $400 a month or $3500 and we will figure it out to go. The guy does put some opinions out.

Block trade might be useful but I never know if those blocks are fading or breaking out unfortunately.

He is starting to put out YouTube videos also.

In the end UNDECIDED for now

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  #6 (permalink)
Melbourne, Australia
Experience: Intermediate
Platform: NT8, Multicharts,Sierra
Broker: CQG, IB
Trading: YM,CL,GC,6E,6J
Posts: 97 since Mar 2013
Thanks: 83 given, 60 received

I am experimenting with having this page (shown in the screenshot below) on part of my left hand monitor instead of my NYSE TICK chart as I am stalking a trade - ie in the few minutes before I hope to enter - as a timing tool.
My issues with my existing TICK chart (from IQ Feed) is that it is not as "clean" a calculation or reliable as the one I used to have from Tradestation.
I like the fact that the DTP page (and especially the meters) does not look like a swarm of angry bees, which some TICK charts can resemble.

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