Agreed, footprint display, in detail, order that were actually executed and bookmark display the waiting orders which will or will not be executed. The book heat map can be found also with Sierra, jigsaw. I will vote for the footprint chart.
Bookmap - Anyone using it?
- Thread starter Laissez Faire
- Start date
I see.
I do have a full license of NT8 including the order flow suite, but never really tested it yet. I don't currently have the full order book available on my data feed as I never really used it, but I'll activate it and do some experimenting.
Thanks.
Do you know if this is any different than the Footprint chart NT8 is offering? I imagine maybe this product was made before NT8 launched their order flow suite.
Not sure if volume profile is the same as bookmap, but I did manage to find a script online somewhere a while ago.
I figured it would complement my other studies, and it does. It's also very cool that you can put futures spreads and synthetic futures (50*/ES - .5*/YM) in it and it will create a volume profile for the combination.
I figured it would complement my other studies, and it does. It's also very cool that you can put futures spreads and synthetic futures (50*/ES - .5*/YM) in it and it will create a volume profile for the combination.
Code:
input numberofprofiles_to_display = 20;
profile vol = VolumeProfile(startnewprofile = GetYYYYMMDD() != GetYYYYMMDD()[1], pricePerRow = PricePerRow.TICKSIZE, onExpansion = no, numberOfProfiles = numberofprofiles_to_display);
vol.Show(color = Color.GRAY);
def poc = if IsNaN(vol.GetPointOfControl()) then poc[1] else vol.GetPointOfControl();
def hday = if IsNaN(vol.GetHighest()) then hday[1] else vol.GetHighest();
def lday = if IsNaN(vol.GetLowest()) then lday[1] else vol.GetLowest();
def hdiff = hday - poc;
def ldiff = poc - lday;
AddLabel(1, hdiff + " " + poc + " " + ldiff, Color.YELLOW);
def line = if IsNaN(close) then line[1] else if hdiff > ldiff then poc - hdiff else poc + ldiff;
plot extendedline = line;
extendedline.SetPaintingStrategy(PaintingStrategy.DASHES);
extendedline.assignvalueColor(if hdiff > ldiff then color.magenTA else color.cyan);
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I don't believe it is.
Volume profile has become fairly common in most standard software packages these days. A volume profile will basically plot a volume distribution for price history up until now.
Bookmap on the other hand is merely a new way to visualize Level 2 data. Both historical and current liquidity. Basically, it's just another way of visualizing and reading order flow. There's plenty more bells and whistles, but that's the gist of it.
Straight from the horse's mouth:
Bookmap is a cutting-edge trading platform that lets you visualize market liquidity and gain incredible insight into the order book.
Hmm, seems kinda cool. It's like a robot that watches the book for you and generates little memos about trading on the bid and offer. I'll have to check it out.
It definitely is cool. If anything, it could help against boredom as it's in fact fairly entertaining to watch.
You can check out this livestream if you're interested:
Instruction for TwB stream (youtube.com)
Frankly, one might not even need to buy the software if one trades ES futures. Just this stream could be sufficient. It's a 5 second delay, but should be close enough for most purposes.
This guy share live NQ ES bookmap feed on YouTube test it out to see if it’s for you https://youtube.com/@thinkwithbookmap?si=RRWwyvvibMgrQpH7
*** I used to subscribe to the full book but rarely used the info so now I am just using the cheaper data feed. Unless you find a compelling reason for the data I would hesitate. ***
Yes, it is quite different. Orderflows was introduced before Ninja added their version.
What is different? Ninjatraders version is called "Volumetric" bars. It is a plain footprint. It will only highlight imbalances and the dominant side of orders. Smarter/quicker people than me could probably just use this chart to trade.
The benefit Orderflows software is there are 32 pre-programmed indicators that are plottable and are also able to draw out levels. The list and tutorials on each are available on the link I posted earlier. I use two footprint charts while trading one a Bid/ask and the other a delta footprint. If you tried to use all 32 indicators your chart would be a meaningless mess. For my markets, I have found the following useful split up over the two charts.
Accumulation/Distribution
Delta Tail
Imbalance reversal
Market weakness detector
Orderflow ratio
Resting liquidity
Delta divergence
Exhaustion Prints
Price action divergence
Retail Suck
Zero Print
Imbalance/stacked imbalance
Delta summary at the bottom of the chart.
Just a few words of caution. This is not a green light/red light trading system where every time you get a signal you jump in. All it highlights are areas that should be of interest to the short-term footprint trader. There is a learning curve for sure so don't think you can install it and be trading live the same day. Mike Valtos also has a weekly training class for owners; also this is a lifetime license so you will have access to future releases. I bought it on version 3 and now he has version 7 out.
If you buy the footprint chart from orderflows do not buy any of his stand-alone indicators; you can see it on the orderflows software. There are many other similar programs available that will highlight order flow points of interest and I am sure they are just as good; I just haven't tried them. I just checked; there are 218 orderflow add-ons available on the Ninjatrader ecosystems page.
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