The Order Flow Pack includes the following indicators:
- Market DNA
- Book Snapshot
- Volume Circles
- Liquidity Counter
The Market DNA add-on purpose is to show the order book on a chart with a crystal clear graphical interface. Its can be used to clearly see areas of high liquidity and other abnormal orders in the market.
Market DNA Features:
- Liquidity Map
The liquidity map is a historical graphical representation of the depth of the market. It makes it easy to spot large bids and offers by mapping them on a chart and also areas of high liquidity. Areas of high liquidity exist at points where many market participants have resting orders waiting to get filled. These areas are of high interest and are usually a price of interest (level, technical indicator, psychological level) so they are extremely important to look for.
- Best Bid/Ask chart
The best bid/ask chart is a chart type that tracks the bid and offer spread.
Volume Circles (Beta)
The Volume Circles indicator is used to see where volume has traded clearly straight on a chart. Depending on the amount of volume traded the circles adjust in size and depending on the type of volume (net buy or sell) the color changes. The opacity is determined by the amount of buys vs sells. For example, if the volume traded was a net buy, the color will be green but if many contracts were also sold at the time and price the opacity is reduced. Another feature is the information of the circles themselves when zooming in; the top number displays the total volume while the lower number displays the delta
The Book Snapshot is the easiest way to interpret the resting orders (limit orders) in the book. It is very powerful in showing what really matters in the market which are buyers and sellers implemented in a profile style graphical representation. There is also an additional column displaying the book delta (change of the number of contracts) before each price change.
The Liquidity Counter measures the amount of active liquidity in the book. It can be used to see the liquidity at any given time and also the imbalance between any active bids and offers.