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Hi gang, I thought I would post a brief "review" of the new NT8 order flow + suite. First full disclosure - I am very new (1 month) to order flow and volume based trading so when I say "review" keep that in mind. 2nd, I have not been a profitable trader in futures. Having said that, I must say I think NT8 has a winner here for people wanting to read the market as it is happening and move with the smart money ala order flow trading.
The volumetric bars is a footprint bar on steroids and can show you a wealth of info to fine tune your entires and exits....buy/sell side strength, max volume price level within the bar, 7 different delta stats.
The trade detector shows you possible HFT /algo trading, or can be set for identifying block trades, or volume of trades at different price levels.
Here's a chart with labels ( and my scalp trades today) just trading 1 contract on the quiet ES 3m
So yeah, it seems a lotta good info in this suite.....oh yeah I ended up +191 ticks last week
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
If you are FIO Elite Member...
then check out recorded webinar section; published on 18 Jan 2018 for "NinjaTrader 8 Order Flow Tool Suite "Sneak Peek" Presented by: Brett Barrett @ NinjaTrader, topics include:
- Introduction of the NinjaTrader Order Flow + tool suite
- Discussion of order flow concepts and their use cases
- Preview of new Volumetric Bars (footprint style chart)
- How Volumetric Bars can play a key role in order flow analysis
Disclosure: This communication is sent to you by NinjaTrader, LLC, a software development company which owns and supports all proprietary technology relating to and including the NinjaTrader trading platform.
No real news on the volumetric bar...BUT they have added some enhancements to the Volume Profile indicator and have added a very nice Volume Profile Drawing Tool which calculates in real time. In the old version every time you loaded a new indicator, or even changed a setting, the profile info would go away and reset. Now, all you do is two clicks, drag the right margin all the way to the last bar and voila - updated volume profile:
Looks interesting. Thank you for sharing that picture. If they could only improve their DOM, finally, I think NT8 is starting to become a really complete charting package.
Are you finding these volume/order flow studies helpful in your trading? That's another subject with quite differing views. I'm not quite sold on it myself yet...
