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From the NT8 documentation on their built in footprint chart (volumetric dataseries), the POC can be returned in ninjascript using GetMaximumVolume(bool? askVolume, out double price)
I've never created or modified an indicator before, so this is new to me. But the documentation leads me to believe that there should be an easy way create an indicator for use on tick/time charts to display the POC.
I know there are several paid tools for order flow analysis, but it seems that Ninjatrader already includes alot of the data within their lifetime license. So I'd rather use the data already in NT8, before seeking 3rd party subscription indicators.
Can you help answer these questions from other members on NexusFi?
Hi,
I am trying to work with the custom up/down indicator trying to get an arrow when the buys of a bar are 1.85 times or higher than the sells of a bar. (opposite for sells)
I've managed to get an arrow when buys are greater than sells but can't figure out how to filter a percentage higher. Any ideas?
I would like to ask other users what settings they find useful for the Gomi orderflow pro reversals? It is part of the Gomi orderflow package and I would like to know what other users are using for the settings.
BTW- I have tried several footprint charts and by far the Gomi one is the best. The most useful feature to me is displaying all the delta info above and below the bar.
A quick note to mention I updated the GomOrdeflow to 2.4 and GomMP to 5.6 version !
Main enhancements :
GomOrderFlow:
* The imbalance numbers are now replaced with rectangles when they are too tiny to read. This way you still know there is an imbalance even if there is no room to plot the numbers
* Added Current Bid/Ask color rectangles which shows current market levels
MarketProfile
*Added DeltaColor coloring scheme, the profile shows the volume, but colored with the delta. It is often necessary to use some smoothing to see actual Buy/Sell zones
I am studying the GomOrderFlow and I kept any configuration by default. I have some doubt to submit:
________________
1. I can see different kind of arrows in the indicators:
Do the cyan/ fuchsia arrows on the left mean only the lack of interest in that level for the sellers / buyers? And do the green / red arrows on the right mean that all the 5 conditions for a reverse are met (foot of page 39 of the directions for use, vers. 2.4)? Is it right?
_________________
2. I don't understand why certain candlestick are plotted without the red/ green framework, such as this example of this morning
Is there some sort of divergence somewhere?
____________________
1.) I think there's only 1 kind of arrows. and that depends on the 5 settings options you can choose from (starting at page 39):
- Minimum number of declining levels:
Sets the minimum number of declining levels to validate the reversal zone, default is 3
- Allow imbalance on declining side:
We are trying to measure the failure of the decline side, this setting defines if having imbalances on the decline side is
authorized for a valid reversal. Default is false because an imbalance on the declining side would mean strength.
- Minimum size of Opposite Imbalance:
If 0, there is no condition on the presence of imbalances on the opposite side
If 1, any kind of imbalance on the opposite side will validate the setup
If larger than 1, we look for an imbalance of a minimum size, to assert strength.
- Position of the POC:
Having the POC on the declining side of the bar can help with imbalances working out because it can show there is a
big number of traders trapped on the wrong side of the market near the highs or the lows.
Possibilities are Anywhere, InDecliningZone,InDecliningSideHalfOfBar,InDeclinigSideThirdOfBar
- Force Decl. vol < Opp. vol:
When this option is set, a reversal is only validated if the total declining volume is smaller than the total opposite
volume. The opposite would mean there is strength on the declining side.
I think @gomi just changed the color of the arrows in his examples (from cyan/magenta to green/red)
2. under "candle body", there're 3 different color options:
- up color (default lime green)
- down color (default red)
- neutral color (default orange)
your example is showing a "neutral" candle (bar). meaning the opening and closing price are the same of that candle.
if I didn't explain well, I'm sure @gomi can do much better than I can
It seems you put all the indicators on the chart, but if you are starting up, you only need the Main indicator. You can explore a little later the other ones if you need them.
The Red/Green arrows come from the Custom Up/Down signal, they show Delta Divergences using those (editable) formulas :
Close[0] > Open[0] and Delta[0]<0
Close[0] < Open[0] and Delta[0]>0
Hope it helps !
Thanks @Silvester17 for your excellent contributions as usual !