Graphical Orderflow Trading Package

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1. Overview

The graphic order flow trading package combines the power of footprint/order flow charts with the more pleasing look of a normal candle chart. This trading template will display all the important footprint & order flow signals on a normal candlestick chart. No longer do you have to look at those footprint charts with 1000s of bid/ask numbers and zoom in so close that you lose the bigger picture. Instead, use normal candlestick charts with any bar type you like, without losing any of the important footprint signals. We took a good look at all the order flow signals and only took the best, high probability signals and made this special trading template to display them in a clean, easy and pleasing look on any normal chart.

 

2. Orderflow ATR Zigzag indicator

The order flow zigzag indicator is our custom zigzag indicator. It detects price swings in the market and uses these price swings to calculate and display various order flow signals:

  • Shows price swings based on ATR, ticks, points, or percentage
  • Draws auto-Fibonacci retracements
  • HH/LL/LH/HL markers
  • Price/Volume divergence signal
  • No-interest reversal signal

 

2.1 ATR, ticks, points, or percentage

The order flow zigzag indicator can use the ATR (average true range) to find new swing points or pivots. Of course, you can also choose to determine new swing points by ticks, points, or percentage. But using the ATR is far more effective.

Remember that the price swings detected by our custom zigzag indicator are the base for all our order flow signals. Thus we want the best possible price swings which resemble the ones you would have drawn manually 

By using the ATR to detect the price swings we are able to take the market volatility into account and because of this the price swings found are much better than those of the default zigzag indicator which comes with NinjaTrader.

2.2 Auto Fibonacci retracements

The order flow indicator automatically shows the 50% and 61.% Fibonacci retracements for the last price swing. These Fibonacci levels often act as strong support/resistance. By automatically letting the indicator draw these Fibonacci levels on the chart we never forget they are there. And when we get multiple signals at one of these Fibonacci levels then we know that these will be the high probability setups you would be interested in to open a trade

 

2.3 HH/LL markers

The order flow zigzag indicator can show HH/LL/HL/LH markers at the swingpoints. This way you are quickly reminded if we are in a trend or a choppy market. if we see HH and HL we know we are in an up-trending market, and if we see LL and LH we know we are in a down-trending market. Any other combination would indicate congestion and these are the times we want to be very careful opening new trades.

2.4 Volume / Price divergence  signal

 The volume/price divergence signal occurs when the indicator detects divergence between volume and price. When for example price makes a  new high, but with a lower volume than the last upswing then we consider this a price/volume divergence. The same goes if the price makes a new low but with lower sell volume.

As shown below its indicated by an orange candle and these divergence signals are often an indication that price will reverse soon

2.5 No interest signal

The no-interest signal is a reversal signal and appears when buyers (or sellers) are exhausted and have no further interest in continuing to buy( or sell ) the market. The no-interest signal occurs at the end of a trend and indicates a potential reversal

The no-interest signal is based on 3 consecutive price swings

  1. The 1st swing 
  2. the 2nd (counter) swing. The volume of this 2nd swing is bigger than the volume of the 1st swing and bigger than the volume of the 3rd swing
  3. The 3rd swing which volume is lower than the volume of the 1st swing

The no-interest marker is displayed by a purple triangle as shown below. Notice how the market reversed after each no-interest signal.

 

2.6 Market structure up/down swing count

Besides showing HH/LL the indicator can also show the market structure by plotting the up & down count. Every time the market makes a new high, the up count will increase. And vice versa. Every time the market makes a new low, the down count will increase

market structure up/down count

2.7 Bloodhound/Blackbird/Automated strategies support

The indicator exports several plots for the No Interest & Volume/Price divergence signals which you can use in, Bloodhound/Blackbird, The NinjaTrader Strategy builder, or plain Ninja Script to build your own automated strategies

Plots for:

  • No Interest plot
  • Price/Volume divergence plot
  • Markt structure Up count plot
  • Markt structure Down count plot

 

3. Cumulative Volume ZigZag Histogram indicator

The cumulative volume zigzag histogram is used in conjunction with the order flow zigzag indicator. Where the order flow zigzag indicator shows the price swings on the chart, the volume zigzag histogram indicator displays the cumulative volume for each price swing below the chart. When a new price-swing pivot (up or down) gets detected the volume wave histogram resets back 0. From that point, it will sum the volume for every bar until the next price swing pivot is detected.

This way we get to see the volume for each price swing. By comparing the amount of volume inside a price swing with the actual price movements and with the previous swings we get clear clues of where the market might be heading. 

One of the signals shown in the volume zigzag histogram is the price/volume divergence. For example, if price makes a higher high with less volume then the divergence gets detected and shown in the histogram. See below for an example

 

 

4. Buy/Sell Momentum indicator

 The buy/sell momentum indicator shows 2 important order flow signals and (by default) shows these by coloring the body or the outline of a candle.

The defaults will be

  • Bar outline will be colored when extreme buy/sell momentum (speed) occurs
  • Bar fill will be colored when extreme buy/sell volume at the top/bottom of the candle occurs 

Of course, you change the defaults. Note that we recommend using the hollow-candle chart style for the best visual representation.

4.1 Extreme buy/sell volume at top/bottom of the candle

This signal indicates when we see that almost all the buy/sell volume inside the candle occurs at the top or bottom of the bar. By default, this will be indicated by a filled green/red bar, but you can change the colors and whether you want the candle body, outline to be used

If almost ALL the volume of a bearish candle occurs at the bottom then we have a high chance that the price will continue selling down. The same for the situation where we see that almost all of the volume of a bullish candle occurs at the top of the bar. In that case, we have a very high chance that the price will continue moving up

 


4.2 Extreme buy/sell momentum

This signal occurs when we get the buy/sell volume momentum (speed) grows quickly. When volume picks up aggressively and above the standard deviation of the last X candles then we can be sure that price will follow soon, or that the trend will continue.

By default, this extreme momentum is indicated by one or more arrows inside the candle. For extreme buy momentum, the arrows point up, and for extreme sell momentum the arrows point down. The number of arrows tells something about the force/speed of the buying/selling. One arrow means that the momentum is outside 1 standard deviation.  Two arrow means that the momentum is outside 2 standard deviations and 3 arrows indicate that the momentum is outside 3 standard deviations

 When we see extreme buy/sell momentum we can expect the price to continue with the trend in the same direction

 4.3 Stacked delta Imbalances

Stacked imbalances occur when we have 3 (or more) imbalances stacked on top of each other. gain this can happen on the bid and/or the ask side

When a stacked imbalance is the indicator will highlight this by coloring the background for the next 5 bars (you can change the number of bars)


When we get a stacked imbalance on the bid, the indicator will mark this with a red background for the next 5 bars (see screenshot).  For a stacked imbalance on the ask, the background for the next bars will be green

Stacked delta imbalances

4.4 Unfinished business or failed action

An unfinished business or failed action occurs when 

  • The market makes a new high but has 1 or more contracts traded at the bid at the high price of the bar
  • or the market makes a new low but has 1 or more contracts traded at the ask at the low of the bar 

When this happens then this is called unfinished business or a failed action. In general, price likes to return to this level and restest it, or take care of the unfinished business.

The indicator can show unfinished business by a green or red line which stays on the chart until the market returns to retest it. You can optionally choose to hide lines that are retested or keep them on your chart

 

4.5 Bloodhound/Blackbird/Automated strategies support

The buy/sell momentum indicator exports several plots for the excessive sell/buy volume & buy/sell momentum signals which you can use in, Bloodhound/Blackbird, The NinjaTrader Strategy builder, or plain Ninja Script to build your own automated strategies

 

5. Market Extremes indicator

The Market extremes indicator will tell you when multiple exchanges (NYSE, Dow Jones, and Nasdaq) are overbought or oversold. When multiple markets are overbought/sold at the same time we have a very high chance of seeing a reversal or bigger retracements.

This indicator will show (and alert) you in real-time when 2 or more exchanges become overbought/sold. By combining the overbought/sold signal with other signals (e.g. RSI, MACD, or S&R levels) you get very high probability entries 

You can use the indicator in auto mode or manual mode. In Auto Mode, the indicator will calculate the standard deviation of all 3 markets and will give you a signal when 2 or more exchanges are overbought/sold. 

In manual mode, you define the extreme levels for the NYSE, Dow, and Nasdaq yourself

 Click here for more information about this indicator

TDU Market extremes indicator

 

Features

  • Combine the power of footprint/order flow charts with the more pleasing look of a normal candle chart
  • Show all the important order flow signals on normal candlestick charts
  • Orderflow zigzag : our custom based zigzag indicator
    • ATR based zigzag to detect the best price swings
    • Shows Fibonacci retracements for last price swing
    • Shows price/volume divergence signals
    • Shows no-interest signals
    • Shows HH/LL markers
    • Alerts for No Interest and Price/Volume Divergence
    • Supports bloodhound/strategy builder
  • Volume zigzag histogram
    • Shows Cumulative volume / zigzag price swing
    • Shows volume /price divergence
  • Buy/Sell momentum 
    • Shows excessive buying/selling volume
    • Shows excessive buying/selling volume momentum
    • Shows unfinished business order flow signal
    • Shows multiple stacked imbalances order flow signals
    • Supports bloodhound/strategy builder
  • Market extremes 
    • Shows when multiple exchanges (Nyse/Nasdaq/Dow) are overbought/oversold

 

Changelog

 v1.0.0.4 - (not released yet)

  • Allow user to change the size of the no-interest markers
  • Allow user to change the size of the up/down market structure markers
  • Added alerts for No Interest and Price/Volume Divergence

 v1.0.0.3 - 28 November 2021

  • Added option to show market structure up/down count
  • Added plots for up/down count for BloodHound
  • Added setting to specify the bar y-offset for the HH/LL markers

 v1.0.0.2 - 27 November 2021

  • buy/sell volume indicator: added support for bloodhound/blackbird 
  • buy/sell volume indicator: fixed issues that arrows were too big 

 v1.0.0.1 - 20 November 2021

  • added multiple stacked imbalances signal
  • added unfinished business signal

     v1.0.0.0 - 20 November 2021

    • first release

    Terms

    All our indicators and packages come with

    • a one-time fee only
    • lifetime license for 1 pc (we offer 20% discount for 2nd licenses)
    • includes free future updates

    We also offer a 100% free 5-day trial of all our indicators allowing you to test our software before you decide to invest in it. Since you are able to test all our software before buying it all sales are final and non-refundable

     

    DISCLAIMER

    Please note that the market extremes require real-time ^TICK data for the NYSE, DOW, and Nasdaq. This is NOT included in your default data subscription. Please consult your broker on how to get this data. Without this real-time data, this indicator will not work!!

     

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