Software Review: Order Flow Software by Tradetheeminis

A number of order flow programs have come to the e-mini trading market in recent months and I have been able to look at quite a few of the offerings. Some of the programs are fairly easy to use, while others require some basic knowledge of auction theory and order flow. To be sure, they all work to some degree; the trick is how readily they are able to transmit meaningful information into trading decisions.
Should you adored this article and also you would want to get details with regards to ninjatrader moving average crossover alert kindly visit our web site.
Order Flow Software by tradetheeminis was a standout in my e-mini trading experience.

Tradetheeminis's offering provides a wide array of customization options that allow the trader to look at each bar in many different ways. The set of indicators present the e-mini trader with the option of viewing each bar in terms of volume, delta, bid/ask (all in price ladder form) and many other intriguing options which I will try. Early in my trading career I traded for a smaller-sized prop trading firm and learned to read price action in bid/ask manner, which requires you to look at the bid on left side of each individual volume ladder and the ask on the next higher tick, in a diagonal manner and the exact opposite depending on whether the market is moving up or down. Since the program is designed for use with NinjaTrader, this format should be familiar to most traders accustomed trading on a DOM. Like most DOMs, the active auction point is highlighted so the average trader can determine whether the price action is on the bid or ask side. Finally, as each bar is completed the price with the highest volume is highlighted. It takes some experience to interpret the context and meaning of the place in each individual bar where the highest volume falls. (i.e.-the top of the bar, mid bar, or at the bottom of the bar) and reading the high volume in successive bars. Some rudimentary familiarization of auction theory and its application would be helpful in interpreting this part of the indicator.

The program offers an order flow indicator that I use in line form that gives the e-mini trader look at whether orders are being executed of the bid or ask side. Obviously, the greater the distance between the bid/ask lines the heavier the order flow in each respective direction. This portion of the program runs in its own panel below the individual bar volume or bid/ask ladders.

The running tally of orders are in a separate panel on the left, along with traditional horizontal buy/sell histogram so the average e-mini trader can see the price point where the heaviest volume has been executed and the points where there is little interest in either buying or selling. There is an additional Market Profile program if you should choose to add the features of that particular trading system to the mix. Market profile readings, in conjunction with volume ladders and individual intra-bar order flow gives the e-mini trader the tools that were the domain of professional traders until recently.

I liked the program well enough to purchase it and use it in conjunction with Sceeto (an order flow and tape reading program by algofutures) to give me the kind of trading view that few retail traders enjoy. Tradetheemini's offers a comprehensive manual and training via a trading room for those who may struggle initially with utilizing the program, a great feature. I give this set of trading tools a "thumbs up" as it is robust, accurate and user friendly.