Market Data for Order Flow Plus tools.

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What market data (Level 1 or 2) is needed for the OrderFlow+ Volume Profile and VWAP indicators? Which of the OrderFlow+ tools require Level 2 market depth data?

Thanks.

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Hi @dakine

Using NinjaTrader Order Flow tools:

If you are just looking at market orders that have already been executed, then level 1 is only required (eg Volumetric Bars, Cumulative Delta, VWAP, Volume Profile, Trade Detector ).
If you are looking at any tool that monitors stacking and pulling of limit orders, then level 2 is required (eg Market Depth Map).

Personally, if you are interested in Order Flow in real time, opt for Level 2 and you can see both market orders and limit orders.
People are just realizing the value of analyzing stacking an pulling away from just using the DOM, and more development of tools need to be done for level 2 for real time trading.

Robotman

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Thanks @Robotman for the reply. Do you have any resources you like for Market Depth trading using the analysis of stacking and pulling orders. Thanks.

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dakine

Thanks @Robotman for the reply. Do you have any resources you like for Market Depth trading using the analysis of stacking and pulling orders. Thanks.

I use these as a full time trader. Y.M.M.V.
Search Futures.io for other order flow traders and you will find different approaches. It could take a year or two to find yourself.
Go slow. Sim (real time or replay - not static end of day) for a year. Start with a modest account and risk little. I can't emphasize enough learning to code (hack) in C#.

https://www.jigsawtrading.com/ Peter Davies (lots of free education and support)

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https://www.mzpack.pro/ Mikhail Zhelnov (excellent NT8 indicators for full time traders)

Have any members used or tried MZpack indicators for NinjaTrader?

Was wondering if anyone has tried these indicators. MZpack Indicators for NinjaTrader ( They look to be a combination of order flow, heatmap and profile. They have some very unique templates as well. I did an advanced search on this forum to see …

Good Luck,
Robotman

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dakine

Thanks @Robotman for the reply. Do you have any resources you like for Market Depth trading using the analysis of stacking and pulling orders. Thanks.

Bookmap (which has a NinjaTrader addon) will also show you visually the stacking and pulling of orders. Level 2 data required.

Market Data for Order Flow Plus tools.

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Market Data for Order Flow Plus tools.