D over at OFA will tell you that the way non-OFA packages are and have been doing it, is completely wrong - I believe the most recent video on his youtube channel within the 1st 20min gets into the 'ludicruosness' of this,with him referring to it as something that children can determine as being wrong. (The reference to a diagonal mismatch of buyers and sellers and other's volume footprint charts). But, the premise remains that buyers lift the price and sellers push it down; in a instrument like CL where 1 cent increments don't mean an awful lot (to the big players who will accumulate as selling pushes price down, and also do the opposite), I do not believe this makes a huge difference to the prices at each and every 1 cent price level. Instead, it is key to try and determine which range is seeing accumulation and distribution, and then when it stops as it comes to key levels of previous chart supply/demand, POCs, fibs (current day and previous day's), along with other things on that chart (and sometimes in other instruments as real time price and events/news unfold).
I have recently started using OFA and having watched some/many of the videos, I am starting to see that there's been some cherry picking of scenarios involved. It's important to note that the behaviour of CL ES TF GC can all be very very different when it comes to viewing them in anyone's volume footprint or orderflow charts: divergences can be extremely different, the range that price will retrace can be very different,and overall intent can take much much longer to play out in some of these instruments, causing incredible doubt and inevitable grief to a retail trader's psychology and often to their account balance (by running stops, ie., which will be FAR wider in GC and CL than say ES -and the actual $$$ it will cost you - this has to do with liquidity differences but also inherent price behavious differences). Personally, there is FAR too little attention paid to the differences in these in these instruments price action and behaviours by the majority of people, which, is why indicator's arrows/signals to buy or sell at a single point simply do not work *consistently* - in trading, there is no such thing as a 'one size fits all' (instruments) approach.
Having now used OFA for a few days, the blue and red momentum dots in something like CL can be very dubious, if one is simply looking to them. They work a little better and more consistently it seems in ES, but that seems to be mostly because it's gone straight up for 8/9 days since the 1730 bottom, now getting into back into the 1830's. I wont be able to give a better assessment of it until I have seen many more weeks of the market's price action.
I have been using the gom indicators for years now. I like them better. A lot of that is because I have become used to the system and patterns and general 'ongoings' of price in instruments like oil. As I mentioned, in comparison to OFA, it will still show accumulation/distribution buyers/sellers initiating, over a range, which can easily be 50cents.
There are 2 ways to collect the data from gom: an 'estimation' methodology (because ninja does not store the up and down tick data, so to plot a historical chart needs to use this method) but part of gom is that if your PC is running and receiving a realtime data feed, it actually records this very relevant data (to exactly determine if it is the buyer or seller that initiated that tick) and it then stores that data in an incredibly efficient file, so that when you request historical data against that instrument, your buy/sell data is 100% accurate. Thus, if you have a completely unfiltered data feed (IB for example is terrible data), you will have completely accurate historical buy/sell data stored within your NT, by way of the proprietary gom data files. The down side to this of course is that to capture this data, your PC and Ninja needs to be running and receiving this data for all the periods you want it for, ie., running 5 days a week, 24 hours a day, or, during the time period your instrument trades. (if your ISP charges you for data overages beyond a set gigabyte amount, this can be a problem {towards your monthly ISP bill} or, if your data connection drops more often, ninja doesn't always reconnect as it should, so you wake up and see that you may be missing hours of gom data. The positive flipside here is that you can run the replay {after 5pm est, and a 16x speed or more, to re-collect or 'fill in' those data gaps})
If using OFA within Ninja, I believe it uses the estimation methodology I mentioned UNLESS one has IQ/Feed as your data provider, since it is one of the only/few data providers that will send historical data with the up/down tick information. (Not completely sure on OFAs abilities here). If this is so, OFA would in theory give the same accuracy as having your gom infrastructured PC collect (and store) the up/down tick data.
Having said all that, I'd say the differences between the 2 data collection/portrayal methodologies are about 93 to 97% similar, and probably more. Just a guess on that, from having compared volume footprint chart of gom, and ranchodinero, the latter of which would be using a tick/data collection methodology similar to OFA. I have not yet done a chart side-by-side comparison of OFA to GOM volume footprints because the OFA indicators default to using their specific bar type (6/4 for ES, 12/6 for CL) and I like to use either minute or range/tick charts for GOM. I am not sure if OFA allows one to change the bar type, and still see their portrayal of volume footprint charts.
The other aspect in choosing between volume footprintcharts from OFA, gom or rancho (there are others too), might be esthetic or functionality. The rancho/acme ones have a very nifty built-in feature that when you resize the chartwidth and/or height, it will decrease/increase the font size of the buyer/seller numbers within the bar. But, I'm not a fan of how it is laid out graphically - I prefer the fixed font/bar size nature of gom, but more so the 'cleaner' way it is displayed, also having a histogram corresponding to the number of buyers and sellers at each price, at each bar. Gom also display the actual candle between the sellers and buyers, allowing you to see any wick lengths, therebuy (to me) giving me more information within the volumefootprint chart - this latter item I do not believe I have seen on any other competitor's volume footprint charts. There are other feature differences too, that can have a useful impact to day-to-day usage, like the gom ability to consolidate price on it's volumefootprint to 2 price levels, since the 1 cent granular level in CL is in my opinion too much data sometimes, and, can become a screen real estate issue. Also, the gom infrastructure has shown itself to be extremely versatile, with widely varying ways to display the data (because it is all open source), and there have been fantastic programmers who have created indicators like metrovolumeadditionv2/3 to display the data very differently; this latter one I think has made a purposeful attempt to make it look and act more like OFA, right down to doing the 'correct' diagonal buyer-to-seller comparison. It is a combination of these indicators that I have mentioned (along with some other really good ones) that has prompted folks like LePrivateBanker (check his twitter feed) to create some really nifty order flow charts, drawing on this open source code - check his tweet of January 16 for a view of how the orderflow data can be displayed) In closing, I would say that the versatility of gom allows for finding a better chart view and methodology for the individual trader, but finding the right indicators that work for you can take some time, and they can be tough to find (they are all almost exclusively found on bigmike trading).
Indeed taka-san indeed. They revamped their site to look more professional. However they are rather secretive and "under the radar" of sorts. No paid trials, not even any Ninjatrader Partner presentation webinars.They certainly know how to protect their stuff.Even the Russian and his contacts doesn't have their stuff.:))
Have a look at their Market Cycle indicators.
http://trading123.net/marketcycle.htm
How bloody game is that? They say they can catch every market reversal (HH.HL,LL,LH,DT,DB etc) as they print!I don't know of any other vendor with indicator claims like that.
If the indicators were callable in Ninjascript and in the NT Strategy Wizard's Condition Builder, a strategy could be built taking every direction change of market prices with proper strategy management.
Greetings all.Here are some pretty useful and interesting NT7 indis from LittlefishFX. Humbly requesting the services of our educators,if possible.
http://www.littlefishfx.com/
LittlefishFX COT Indicator - Advanced Commitment of Traders Indicator Downloads all historical data directly from CFTC* Automatically links to NinjaTrader Instruments* Can be utilised within Automated Trading Strategies based on release date of data (typically Friday) and the reported date (Tuesday)
Trend Trader -Trader Tool for Maximising Pip Gains *Ability to trade in Grid, News or Trend style *Advanced Order Management capabilities allow you to enter and re-enter trades automatically at pre-determined levels
*Grid Functionality also allows dynamic step spacing based on ATR
*Able to fully integrate with NinjaTrader’s Chart Trader or act as a stand alone Order System
Pin Bar Indicator -Focused on highlighting potential Pin Bar setups on your chart *In-built Risk Reward trading system (positive reward vs risk strategy)*Works extremely well on 4hr & daily candlestick charts
*Can be used effectively for ANY time frame *Designed for use on all currency pairs, commodities and stocks
*Incorporated into fully automated strategy on NinjaTrader platform
*Allows you to specify which Pin Bars or counter trend Pin Bars
Useful for Pinbar strategy Binary Option traders
MT4 / NinjaTrader Bridge -MetaTrader4 / NinjaTrader Bridge used by professional trading groups and proprietary trading houses.
*Provides ability to mirror trades on one platform to the other, by mirroring accounts in one platform to the other
*Works with High Frequency Automated and Manual Systems
*Provides the option to email the user when the system mirrors a trade
*Plays an audible alert and produces individual tagging for systems
*Enable NinjaTrader with a world of additional brokers using the Bridge
Useful for MT4 Forex traders who also have NT7
Littlefish.zip (798.58KB)
Download Link
http://www.sendspace.com/file/jbs75z
Thank you:)
http://darkspeed.com/
"DarkBot adds advanced features to existing trading Platforms like Ninjatrader.This is a very interesting trading software using complex math algos that calculates the point at which the market changes directions. DarkBot takes this information and plots a chart with visual and audible alerts."
I don't really know if it operates under a cloud server but it lets you use the Ninjatrader platform.
I have uploaded their ELITE dll which lets you trade not only the ES which is their specialty but also all instruments forex and futures.
http://www.sendspace.com/file/hewswr
I am wondering if it can be educated by elite members like minch or admin for our forum members. [-O<Thanks.
Metastock add-ons
Hi guys, there are almost all metastock add-ons in this link below
http://www.4shared.com/rar/veyKtw6Ice/Metastock_Add-ons.html?
I know a lot of you asked for different plugins(add-ons), so I've gathered all of them in one single file.
P.S. Somebody please write the full list of metastock add-ons
Folks, please don't get seduced with the performance results posted on this snakeoil website. I have strong reason to believe they are backtests conducted after 12:00 each trading day, not live in a cash account.
The entries are one tick below the top of the right shoulder bar and the exits are scaled out at 1 and 2 points with a 2 point trailing stop on the last contract. Make sure you have 150 bars on the chart to catch wider setups between bars, like the Masserati trident. The closer the symmetry between the 3 bars, the higher the probability of success.
I'm not interested in highjacking this thread to make it a monument to myself as others have done. But I'll be happy to answer a few questions. Honestly, the charts speak for themselves--this is as simple as it gets, but don't try small bars because you'll see scads of these formations and the setup will fail.
