FLOWSHARK Indicators For NinjaTrader
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FlowShark Order Flow indicators
FlowShark Order Flow indicators were developed to simplify order flow trading. This extraordinary indicator provides a snapshot in real time of trading activity (price ladder of contracts bought and sold, block trades, Level II quotes, volume profile, etc.). The format is easy to master even though it tracks a complex set of trade data. Integrating FlowShark into your futures trading platform improves your ability to spot market entries and adjust quickly to changes in momentum or direction for exits.
“Magnets” refers to price rungs in the ladder where the number of bid/ask contracts are the same, or nearly so. These are areas of indecision that may be revisited within the bar or in subsequent bars; hence the term “Magnet.” Magnets Extend draws a line to the right of the bar (across subsequent bars) until the price has been breached.
The Magnets Min Volume parameter sets the minimum total volume required inside the price rung before the magnet color (white) will be printed.
The Magnets Max Spread Volume refers to the maximum difference between the bid/ask volume (on the same price rung) to qualify as a magnet. The default is 1, but this value can be increased (e.g., to 5) to make it less restrictive and more sensitive to show prices at which buyers and sellers were closely matched.
"Unfinished Auctions" are price rungs at the top of the bar where the number of contracts offered for sale (Left column; ask) did not reach zero, or price rungs at the bottom of the bar where the number of contracts offered to buy (Right column; bid) did not reach zero.
*You will note that for the vast majority of bars these values do reach zero, but for those that do not, there is a possibility that price will return to this level to complete the auction.
Unfinished Auctions Enabled captures this activity when set to “True”.
Unfinished Auctions Extend draws a line to the right of the bar (across subsequent bars) until the price has been breached.
Zones Based on bid/ask imbalances [Zone (Imbalance) Enabled] is set to “True” and is one of the most useful and important features of the Order Flow indicator. These order imbalance zones represent areas of support or resistance.
A fresh zone is one that has just printed, and which price has not revisited.
A tested zone is one that has been revisited and partially breached by price.
A broken zone is one that has been revisited and completely breached (i.e., price has moved all the way through the zone).
All three are important to evaluating and predicting price movement. For example, a fresh zone from the morning may be tested later in the day. A tested zone that has not been breached may be acting as support or resistance. A broken zone may signal a breakout, and/or might be revisited briefly for a “kiss goodbye.”
Bid/Ask Imbalances Fill Enabled will color the background differently (green for ask imbalance and red for bid imbalances) in the half of the price rung where the imbalance occurred. This is set to false mainly because the dots show this quite well.
Bid/Ask Imbalances Dots Enabled will print a dot on the bid (left) or ask (right) side of the price rung, depending on where the imbalance occurred.
Bid/Ask Imbalances Text will increase the font size [ by the Multiplier (x) parameter below it] and change the font style to bold on the bid (left) or ask (right) side of the price rung, depending on where the imbalance occurred.
Block Trades prints a triangular marker when a block trade (10 or more contracts) has been executed. When combined with order imbalance, these two parameters can be used to evaluate the strength (momentum) of a price move.
A “Washout” is defined as a series of consecutive decreases in volume with price.
The Bar Direction Filter adds a requirement that the Washout Signal will only be printed when it occurs on an up bar (i.e., a bar with a closing price higher than its opening price) for a Short Washout Signal and a down bar (i.e., a bar with a closing price lower than its opening price) for a Long Washout Signal.
Market Depth Display
This section configures how the Marked Depth histogram on the right side of the chart is displayed.
Volume Profile (Bar) and Volume Profile (Composite)
Volume Profile refers to the volume distribution of contracts traded at each price (tick) over a period of time, and is another important feature of the Order Flow Indicator. Price support and resistance can occur at “peaks” or “spikes” where volume is high, and at “valleys” or “gaps” where the volume is low.
A special note about one of the parameters in the Volume Profile (Bar) section: “Bar Fill Color Cluster”. This causes a yellow box to be printed around the three adjacent price rungs that contain the highest number of contracts (i.e., the sum of all bid and ask contracts) in the bar. We refer to this box as a “Commitment of traders.”