Um...human beings cannot read
order flow fast enough and neither can a computer at your house or office.
If you are colocated that is great and a machine reading the trade matches as they are matched in the pico second would help you but even that is latent.
You also are mixing up imo.. order flow and order book with
time and sales possibly because you failed to mention that we have hidden
iceberg orders as well which number 2 to 3x the
Limit order book.
Also there are millions of orders that are sent to the market as mit etc and stops that you do not see on the CLOB. This crazy infatuation with jigsaw type crapola doesn't help anyone with their trading success.
Where are all the jigsaw millionaires. There was a time when reading the order book mattered because it was slow and orders were sometimes held as well as you knew the offering or bidding party but not anymore.
On the
trading floor if a guy offered 1000 at this price then he would honor it because no one would trade with him ever again if he didn't. But now a days electronic clobs are never wysiwig!!!!
Best I can help you is take volume and
range over certain time periods say 10 seconds and build on your ratio idea of the amt of volume it took to move x amount of
points. I have found that low volume areas are where price moves ridiculous amounts instead of high volume battles.