We usually do not know the underlying reason for price changes. Traders often speculate that prices are overbought or oversold, or at price support or resistance. It is very easy to come up with an easy explanation for what happened in the market after the fact. But we trade in the present and must use objective analysis to trade based on what is happening now in order to make the best trading decision now.
This isn't some simple price pattern. It's not a 3-up bars so you buy...or anything so obvious. No, it's easy to apply, but its not easy to find. It combines different parts of order flow analysis such as point of control, delta and bid x ask volume as well as regular market analysis such as price action and swing analysis.
Understanding order flow did not come easy for me or happen overnight. I didn't wake up one day and think I discovered the market's secret. I have been working many years to understand the market and gain market knowledge. The benefit for me has been better trading and that now I can objectively view the market.>If you are already using an order flow software, you can overlay this indicator right on top of your existing footprint chart.
Only the footprint chart allows you to see inside the bar so you can act on the information before anyone else.I realize that not everyone ready for an order flow volume footprint chart so...
If you are using normal bar or candlestick charts I have you covered. You can overlay this indicator right on top of your existing bar or candlestick chart for easy analysis.
Now you can add order flow analysis to your trading arsenal without having to learn order flow.
>The Orderflows Turns runs on NinjaTrader 8 version 15 which is the most recent release of NinjaTrader. Unfortunately it does not run on NinjaTrader 7 or earlier versions of NinjaTrader 8.
If you haven't updated or upgraded to NinjaTrader 8 version 15, it is easy and free. Simply go to: https://ninjatrader.com/PlatformDirect and upgrade your version of NinjaTrader.
The Orderflows Turns is an order flow analysis tool, so it is designed for the short term day trader. I recommend trading range based charts, i.e. 4 range to 10 range charts and time frames less than 5 minutes down to 30 seconds. The type of chart and time frame you use should be your own choice based on your own trading profile.
>ES, CL, YM, NQ, 6E, ZB, FGBL and more. The Orderflows Turns works on just about every Futures market where there is decent volume. Most traders trade the E-mini SP and CL, but the indicator performs best in actively traded markets.
I don't suggest you trade thinly traded markets such as Lean Hogs or Live Cattle with the Orderflows Turns.