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How do you trade with it? Do you think its better than a simple VolumeUpDown? Maybe the author of this indicator could chime in. I do not see yet how its superior to VolumeUpDown. However, I would like some opinions on this.
Can you help answer these questions from other members on NexusFi?
If you use it on bar close, meaning it showing you the majority bias of orders from the previous bar being long short or neutral, some use it as a confirming tool to enter trades based on other things as well. If you want to use it not on bar close then you will be having lots of trades and commissions very quickly.
RJay: first, thanks for your Jstats indicator. Sometimes I am using it quite a bit in conjunction with Dvalue on the left. Sometimes I don't use it at all and just look at price bars. I find it a little hard to look at both!
What exactly is the difference between market and book orders?
Market orders are orders that are executed immediately at best possible fill at current market prices.
Book orders are buy and sell orders placed at specific prices above and below the current market prices. These are the orders that provide supply for the transaction of market orders.
Oh! How obvious! I thought you were talking about some deeper subtleties between Level II and Level III's etc.
Question: do you know why we don't see the orders on BOTH sides of the market versus only one side? And do you know if the floor traders have screens showing both sides, or other institutions? I mean, above the price there are stop market and stop limit orders to buy and below the same to sell. Those are in there. Why don't we get to see them?