Los Altos, CA
Experience: Intermediate
Platform: NT8, Jigsaw, MzPack
Broker: Ninja/Continuum
Trading: ES, CL
Posts: 118 since Apr 2010
Thanks Given: 549
Thanks Received: 174
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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
Full time financial software beta tester.
~When asked what I do for a living. |
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