23/01/20 trading $MRNA. High buyers liquidity in 21.75 and imbalance on the tape for long. Buyers got soaked on 22.5$ several times which gives good resistance signal for short
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Correct23, this is my first time ever seeing heat map charts. Those are interesting indeed.
Do you prefer using heat maps? Can you think of any pros or cons?
How did you decide to start using heat maps? Are they commonly used?
Heatmaps look confusing at first. How long did it take to get comfortable understanding what you are even looking at?
Do you use any special computer monitor for that?
Are you primarily trading medical company stocks? If so, why do you chose to focus on that subject?
What charting software are you using that supports heatmaps?
Do you prefer using heat maps? Can you think of any pros or cons?
How did you decide to start using heat maps? Are they commonly used?
Heatmaps look confusing at first. How long did it take to get comfortable understanding what you are even looking at?
Do you use any special computer monitor for that?
Are you primarily trading medical company stocks? If so, why do you chose to focus on that subject?
What charting software are you using that supports heatmaps?
Hey Bubba, greetings.
I use Bookmap heat map for a year and a half now approximately. I encounter this tool through a guy that I was studying his stuff. It's a great tool that is not hard to handle- very good for beginners, it displays the market auction in a more vivid way than the classic DOM. Of course I don't use only that, it's supplementary to my other tools. A pros is that it shows where the big players are, where they really stacks their orders, and that can give a good ideas where are the S/R levels. It also shows hidden players that you can't see on L2 and when algos are getting in. It shows also the historical liquidity levels so in that sense it's better the L2. Cons can be to someone that relay only on the heatmap, cause it's less easy to see patterns, also it don't have indicators like the regular softwares.
The minute I sew it I realised its value and started to use that. The software is not existing long time relatively but as to the time a lot use it for my knowledge.
I trade all the stocks bur prefer medical and biotech companies cause they work better with my strategies.
I'm using also IB and TOS, for trading and TA and screeners.
