Market/Limit Order Volume Indicator?

Trade Or Die

Newbie
3 0
So I've been searching all over for a tool/indicator that will plot the order flow coming in (demand) against the supply (limit orders) at each tick, and graphically show the difference in the two as a market moves. Twitching my eye between the incoming orders shown on the tape and the limit orders on the DOM works for now, but hasn't someone else had such a thought as well? Surely this has been simplified down into an indicator of sorts... Unfortunately volume won't work, as it just tells me total trades, and not the difference in buy and sell interest

The closest thing I can find is "MarketDelta", a software plugin that does graphically sort out the supply and demand, but surely something as useful as this is already mainstreamed into trading platforms, right?
 

DionysusToast

Legendary member
5,963 1,497
dive dive dive ....lulz alert
This occurs every few weeks.

A new poster comes on, describing my product and asking if then know where such a thing could be found.

I'm perhaps being paranoid but I think it's someone trying to get me banned for plugging the product...

...which I have now done anyway...

Bugger...
 
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Trade Or Die

Newbie
3 0
Since the type of information I'm requesting seems rather important to trading, I was asking if there's some widely built-in indicator that displays it that I'm just missing. This supply/demand element of a market is one of those 'must-knows', almost as essential as knowing the s/r levels.

But since it doesn't seem to exist outside of external plugins like marketdelta or jigsaw for ninjatrader (which isn't my platform), I guess I have to look back and forth really quickly between the dom and the orderflow.
 

jgoodnight

Newbie
1 0
I would also like an indicator that analyzes limit orders. Most traders think of demand as being Market Orders hitting the ask. What they don't think about is there is another demand avenue provided by Limit Orders that show up on the bid. The market maker, whether computer or human, can use Market Orders and/or Limit Orders so as to move the market in their desired direction. I find most indicators to be a foolish game because they are looking backwards. I have the Jigsaw tools but they require a considerable learing curve and after all is said and done, I have information overload.Remember a buy as a Market Order is a sale as a Limit Order. Do you want to run with the herd as Market Orders or do you want to follow the large traders as Limit Orders?