Order Flow and volume profile trading
- Thread starter mt4trader
- Start date
there is different methods to derive buy or sell quantity.
Golden zone uses up and down tick volume for buy sell volumes.
this method only requires last traded price and no real time data is required.
this method is easy.very difficult to know absorption.
some use bid and ask data for buy and sell volume.
only GOMI has got selection of bid ask and up down tick.
any how we can not compare values on different charts.
it depends on data feed, system speed and resources required by software
in my opinion Golden zones uses better method though accuracy is less but we can open more charts.here ratio is more important than actual values.
above two charts of NOFT and GLODEN ZONE
Golden zone uses up and down tick volume for buy sell volumes.
this method only requires last traded price and no real time data is required.
this method is easy.very difficult to know absorption.
some use bid and ask data for buy and sell volume.
only GOMI has got selection of bid ask and up down tick.
any how we can not compare values on different charts.
it depends on data feed, system speed and resources required by software
in my opinion Golden zones uses better method though accuracy is less but we can open more charts.here ratio is more important than actual values.
above two charts of NOFT and GLODEN ZONE
Dear Seniors,
I have just started exploring to use Order flow analysis and I see this thread has valuable resources. Considering the current systems and data feeds availability in the market which one you feel better to have. i.e., NinjaTrader 8 with True Data tick by tick feed or global data feeds? True Data has a Volume profile & OF indicator setup readily available and they charge 3.5k/month apart from data feed charges. Does it worth to go?
Please suggest. Your input helps a lot.
Selva.
I have just started exploring to use Order flow analysis and I see this thread has valuable resources. Considering the current systems and data feeds availability in the market which one you feel better to have. i.e., NinjaTrader 8 with True Data tick by tick feed or global data feeds? True Data has a Volume profile & OF indicator setup readily available and they charge 3.5k/month apart from data feed charges. Does it worth to go?
Please suggest. Your input helps a lot.
Selva.
first you decide to migrate to nt8 from nt7
there are limitations in NT8
there is no dought NT8 is much better than nt7.
but there is no much indicators available for nt8.
if you have enough money to buy the indicators you can go for NT8.
for nt7 many free indicators available
Data feed: select data feed which one provides tick backfill.
gdfl provides only 2 days back fill but true data provides 15 days
true data no mcx data.
there are limitations in NT8
there is no dought NT8 is much better than nt7.
but there is no much indicators available for nt8.
if you have enough money to buy the indicators you can go for NT8.
for nt7 many free indicators available
Data feed: select data feed which one provides tick backfill.
gdfl provides only 2 days back fill but true data provides 15 days
true data no mcx data.
Thanks a lot for the insight. But unavailability of commodity data feed in Truedata made me confusion... if i need to work on both index and commodity what would be your suggestion? i mean Ninja 7 with which data feed would be ideal? I will spend time to learn and apply the indicators if nothing readily available. Your suggestion helps me to start my OFT learning in right direction.
Thanks
Selva.
Thanks
Selva.
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