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Thanks David for order flow charts. Totally agree that scalp signals should be used in context of mp levels, especially it will work good on high & low of previous excess zones. I am curious, can we build a strategy around and backtest order flow signals in OFA ?
Can you help answer these questions from other members on NexusFi?
The software can be leased for $100/mo. that is for the license. If you want the indicators shown which include the cluster classification (colored areas), COT (colored COT) and Scalp(gold box) they charge extra as a one time fee. The also offer pivots that are based on volume not OHLC and are like value areas etc. They seem to work well from what I've seen, but I already spent too much. they have all the prices on the site for the indies. I don't recall all the pricing.
The OFA software is a stand alone platform. Its not an add on to Ninja. It does link to ninja for one trade type, but that's it, so I don't think any back testing can be done. the software is very vanilla. No indicators like MACD, no drawing tools etc.
It's unfortunate they have a one-time fee cause that makes trying it out for a month very expensive. What use are the indicators without the software? Doesn't make sense unless one is going to lease it for a year or more.
Here is a MP chart for CL with some S/R levels. I also show some possible trade areas with the OFA software. The software is probably better with markets with more volume.
Ist thanks for this useful thread. You are using OFA plateform and if so then whats your opinion about its performance as compared to what they speaks. I go through all recordings and looks good for ES as they quote all examples from ES. 2nd as you mentioned that might probably the possible return point , you are right as most of time traders play CL just from smaller time frames just hit and run, If you show that point from 5 and 15 mint chart then may be it provide better idea. one more question, which one charts better work with OFA software, time or volume. Can you give example for ES and CL.
I have not gone live yet with the OFA platform, but that is my plan. I want to find the areas of support and resistance from the market profile work and use the OFA for entry. I know someone else that is using it and they were the one that got me into it. They spoke very highly of it. OFA offers a training course on their software. They have their own way of using it.
The bars are not time based or volume bars, at least that is what I am told. The time periods are based on an auction and some kind of exhaustion. When the exhaustion occurs a new auction begins, so there is not setting for 15 minutes or 5 minutes, or whatever. Originally the package was only for the ES, but since their last release they have a multi instrument version. CL may be to thin, but I am told others use it on the 6E.
There is a Market profile thread for the ES as well. I show an example or two there.