1LDom Custom Order Book

[Bill Bundle]

Here's another order flow type of indicator.

http://www.bigmiketrading.com/ninjatrader-programming/23233-ninjatrader-trader-custom-order-book-1ldom-source-code.html#post263810

 

Learning to Trade the Order Book

http://www.the1lottrader.com/2012/08/learning-to-trade-order-book-software.html#

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Download Links

https://docs.google.com/uc?id=0B9yhfKGMSM71cllLMVV1akp3QTA

https://docs.google.com/uc?id=0B9yhfKGMSM71UDIzVktKamxONTQ

 

Here's a short video series given by a professional pit trader.

http://www.the1lottrader.com/2012/08/charlie-d-famous-pit-trader.html

Edited November 5, 2012 by Bill Bundle

[⭐ osijek1289]

Nice link and share. Usage of the DOM data isn't what it used to be, given the advent of HFT and quote stuffing. Using it for ES is rather tricky IMO; something like CL can be a little more helpful since you're not dealing with having to mentally process thousands of orders, (the CL order book is usually in the tens and hundreds) and, if nothing else, show the shenanigans that HFTs use. During slow times, if you have the patience, you can see where the buyers/sellers are, and, confirm potential reversal points, especially when voliatility and drive are low, and the market is just trading on auto-pilot.

 

Using this in combination with a decent support/resist indi and perhaps even the Better Volume Pro-Am indi, can yield profits on TF, CL and ES.

 

One of the biggest advantages of this tool over the built-in DOM, is it displays a order depth of 10 levels of buyers and sellers, as opposed to the default of 5 that the basic NT DOM offers. Also, you need to have the GOM infrastructure running on your NT, to see the mini-market profile stats and graph on the right hand side.

[Bill Bundle]

Yes, I think that both the GOM and the 1LDom Custom Order Book make a good pair of indicators for Order Flow Analysis. Both are essentially free, but of course updates on GOM require a $50 lifetime membership at Big Mike's Forum. It's not too bad a price, if you are making money by using these indicators.