Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

kick buttkowski

Order Flow

By kick buttkowski, in Technical Analysis

Recommended Posts

sunxpert    10

sunxpert
Posted
Does anyone out there use or know of a very reliable indicator that identifies order flow on the ES. If you are hesitant to make your own indicator public, please send me a private email. I will respect your privacy. Thanks.

 

How do you define "order flow"? The orders are in/out both sides every 0.0001 sec

Share this post

Link to post
Share on other sites

Predictor    11

Predictor
Posted

Reading the tape is something I do extremely well and I share several different techniques in my newsletter for doing that. Some are very simple and require no software, others are more do require more specialized tools. One of the most accurate ways to see the transacted order flow is by tracking the cumulative delta, delta, or by using the footprint (MarketDelta)/VolumeLadder charts. No affiliation with MarketDelta. They offer a free Trader software if you have a participating broker that you could try.

 

It is difficult to trade with only order flow though. I'm specialist in ES.

 

Curtis

 

Does anyone out there use or know of a very reliable indicator that identifies order flow on the ES. If you are hesitant to make your own indicator public, please send me a private email. I will respect your privacy. Thanks.

Share this post

Link to post
Share on other sites

steve46    12

steve46
Posted (edited)

Interesting that once a person asks....first you get the newbies comment, many of them need the same thing....and eventually the BS artists show up...

 

So here's a comment and it won't cost you anything but the time it takes you to think for a moment....

 

First, there are several ways to get the data you are talking about.....depending on your charting you can simply monitor a DOM, or you can get cumulative data (IRT has several ways to show the order flow).....if you have some cash to spend you can get CQGs aggregated trade flow bars..

 

Now when you get into these various ways of displaying the order flow, be aware that what you are seeing is only a fraction of what you really need to make a good decision...AND no matter what kind of data display you eventually settle on you will still need to practice and acquire some skills....

 

I have been doing this a long time, and I favor what most would call the "old school" method

Simply put you start with a screen display that includes the NYSE TICK, Market Breadth (if you use Esignal...both $VOLD & $ADD)....you also need a "time & sales" strip.....long story short most professionals learned this way...it takes time....and you need to develop some skill, but once you have it....no one can take it away from you, and it continues to work the same as the first day I learned it.

 

Now anticipating the obvious question(s)...yes I am a vendor, but ironically I don't have anything to sell you....I have trained two small classes (4 people in each class)....they had to apply and go through an interview process before the class started....WHY....because to really train people to do this right....you can't just sell them an indicator....it doesn't work....thats why so many of you get burned. I closed out my class a couple of days ago.

 

If I were doing it all over again, I would start by getting the screen setup I just described....I would take a few months to simply watch and observe price against the backdrop of the time & sales and TICK....if you do this, and you have some talent, I would bet you can teach yourself enough to get going....then its a matter of networking and trying to find people who are using the same system...

 

I have added one more item that sets it aside from the sharks and bs artists....I use time based pivots on a worksheet....as I watch my screen, if price tests one of my pivots, I know that all I have to do is to determine the trend and then see if price holds a bid or not....If you want a time based pivot chart....again no charge, its public info, read my thread "An Institutional look at the S&P Futures"....

 

Best of luck to you

 

Steve

Edited by steve46

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
Go To Topic Listing

  • Topics

  • Posts

    • HFblogNews
      HFMarkets (hfm.com): Market analysis services.

      By HFblogNews · Posted

      Date: 7th May 2024. Dow Jones Close To 1-Month High, Eyes on Disney Earnings. The stock market trades at a 3-week high after significant support from the latest earning reports and US employment data. Economists continue to expect a rate cut no earlier than September 2024 despite the US unemployment rate rising to 3.9%. The US Dollar Index trades higher on Tuesday and fully corrects the decline from NFP Friday. Dow Jones investors wait for Disney to release their latest quarterly earnings data. The stock holds a weight of 1.93%. USDJPY – The US Dollar Regains Lost Ground The USDJPY is an interesting pair on Tuesday as the US Dollar is the best performing currency within the market while the Yen is witnessing the strongest decline. Investors will continue to monitor as we enter the European Cash Open to ensure no significant changes. The exchange rate has been declining since the 29th of April when the Japanese Government is believed to have intervened and strengthened the Yen. However, the US Dollar has been gaining over the past 24 hours. During this morning’s Asian Session, the exchange rate trades 0.44% higher. Currently the only concern for the US Dollar is the latest employment data which illustrates a potential slowing employment sector. However, investors are quick to point out that this cannot be known simply from 1 weak month. This is the first time the NFP data read lower since November 2023. No major data is in the calendar for the next two days which can influence the US Dollar. Despite the weaker employment data and lower wage growth, investors continue to predict a rate cut no earlier than September 2024. This is something which can also be seen on the CME FedWatch Tool, which shows a 34.3% chance of rates remaining unchanged in September. In regard to the Japanese Yen, most analysts expect the next rate increase in the second half of this year depending on a stable movement of inflation. In addition, investors are monitoring the actions of financial authorities, expecting new currency interventions from them against a weakening Yen. This is the main concern for investors speculating against the Yen. However, economists continue to advise the Yen will struggle to gain even with a small rate hike, unless the rest of the financial world starts cutting rates. USA30 – Investors Turn To Disney Earnings Data! The Dow Jones is close to trading at a 1-month high and is also trading slightly higher this morning. The index recently has been supported by the latest employment data which indicates a higher possibility of rate cuts by the Fed. Today investors focus on the quarterly earnings report for Disney. Disney stocks are trading 0.37% higher during this morning’s pre-trading hours indicating investors believe the report will be positive. So far this year the stock is trading 28.40% higher and is one of the better performing stocks. Yesterday, the stock rose by 2.47% but remains significantly lower than its all-time high of $197. Currently analysts believe the earnings data will either be similar to the previous quarter or slightly lower. If earnings and revenue read higher, the stock is likely to continue rising. The stock is the 22nd most influential stock for the Dow Jones and will only influence the USA30 and USA500, not the USA100. Currently, technical analysis continues to indicate a strong price sentiment. The price trades above the 75-bar EMA and above the VWAP. In addition to this, the RSI is trading at 68.11 which also signals buyers are controlling the market. The only concern for traders is retracements. A weaker retracement could decline to $38,703, whereas a stronger retracement can fall back to $38,571. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      ECL Ecolab stock breakout, from Stocks To Watch, https://stockconsultant.com/?ECL
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      COST Costco stock nice breakout follow through, https://stockconsultant.com/?COST
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      $DG Dollar General stock possible downtrend reversal, attempting to move higher off the 136.7 triple+ support area, https://stockconsultant.com/?DG
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      NFLX Netflix stock big rally off the 553.28 support area, https://stockconsultant.com/?NFLX
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.

  I accept