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Orderflow Bars NT8   download

Please, download and try the add-on before buying. Evaluation period is 12 days.

Add-on for NinjaTrader 8 Trading Platform.
NinjaTrader

Orderflow Bars NT8 (OfB) : Visualize bars' order-flow structure!

dt Orderflow-Bars - Preview
dt Orderflow-Bars - Preview - Profile Look

Index


I. Add-on Installation/Update

It is recommended to use the standard way to remove/install add-ons in NinjaTrader. The most recent versions of all add-ons is always available to download from the homepage.

  1. Remove previous assembly if you have one installed:

    • Run your NinjaTrader, go to the 'Tools' menu and click 'Remove NinjaScript Assembly…' menu item.
    • In the list of installed assemblies appeared select the indicator you wish to update and press 'Remove' button.
  2. Restart NinjaTrader.

  3. Download the latest assembly (.zip file) from the homepage or request a direct link by email.

  4. Install downloaded assembly:

    • Go to "Tools" → "Import" → "NinjaScript Add-On…", select downloaded .zip file and press "Open". Then if the installation was correct you will see the success message.
    • Restart NinjaTrader!

Note: Various Dt add-ons are relying on the same "DiscoTrading.Common.dll" library. NinjaScript Assembly contains the most recent version of the library, so you have to click 'Yes' when asked for replacement of the file during installation.
Replace the common dll library

Remember, it is required to restart NinjaTrader after add-on installation before you can add a just installed indicator to a chart.


II. Initial Chart Configuration

Here you can find some basic advice about initial setting up of a chart with Orderflow Bars NT8.

The sample Workspace is an example which can be used for initial chart setting up.
1. Download the archive and unzip the OfB-DarkGrey-sample.xml file into "<Your PC>\Documents\NinjaTrader 8\workspaces" folder to make the workspace available in NinjaTrader.
2. Then restart NinjaTrader. The new workspace will be available to load in Workspaces menu of NinjaTrader Control Center.
(We chose Workspaces instead of Chart Templates because Chart Templates may not carry all chart appearance settings that are needed. Afterwards you may load the attached workspace and save chart settings as Chart Templates on your own, if necessary.)

Step One

Switch Z-Order through OfB Control Panel First of all, it may be necessary to swap relative position (z-order) of Price Bars and Indicator's output to avoid their overlapping.

First Way: Use a standard way in NinjaTrader — select candlestick series, hold down Ctrl key and scroll mouse wheel. This way does not work sometimes. Thus you can use alternate way — a special command from OfB Control Panel.

Alternate Way: Click 'OfB' button in chart's toolbar to open OfB Control Panel. In the control panel appeared click 'Z-Order: Send to Back'/'Bring to Front' button until you get indicator's output over price bars.

Step Two

Secondly, you may need to increase price Bars Spacing and decrease Bars Width to get a suitable look of orderflow bars
Increase the Bar Spacing by using the [Ctrl + Down arrow key] keyboard shortcut or use Left Mouse Click in the X-axis margin and move the mouse cursor to the left or right to adjust horizontal scale.
Decrease the Bar Width by using the [Alt + Up Arrow] shortcut key or the "Bar Width -" command from chart's toolbar menu:
Adjust Bar Width and Spacing

Step Three

You may also need to increase the "Right side margin" parameter in Chart's properties window to add more space for the current (developing) bar. This may be especially necessary if having Pullback Bar enabled which is plotted next to the developing bar.
Right Side Margin


III. Overview

OfB Control Panel

OfB Control Panel OfB Control Panel provides quick access to high-usage properties and switchers in such a way that any changes will take immediate effect on chart so you no more need to get into "Indicators" settings window.

Appearance Modes

Various representation ways of ticks or volume distribution + various highlighting ways of 'buying vs selling' imbalance:
Appearance Modes examples

Simplified Look

Simplified Look example

Developing Bar Extra Information

Supplementary information on current auction (Pullback Bar; Δ since New High & New Low of the developing bar):
Developing Bar Extra Information
Developing Bar Extra Information

Data Table

All major metrics + functional coloring:
Data Table

Conditional Marks

Highlight bars or even particular price ticks that match defined conditions:
Conditional Marks overview

Bars Types Compatibility

There are special Bars Types (Period Types) which have a specific impact on the data flow in NinjaTrader (most of the Renko, Point and Figure, Line Break, for example) that makes them be unsuitable to use with order-flow tools. These "bars types" are actually self-sufficient studies!
Such kind of bars types (some of them internally use Ninja's RemoveLastBar() function) tend to produce bars with fake data (at least partially): fake bar open, fake bar high, fake close, fake volume… For example, a price bar built based on some kind of Point and Figure or Renko technique may vary considerably from actual price action occurred on the market during the time of evolving of the bar. Moreover, developing (current) bar may have even bigger volume than after it becomes a historical bar (when new bar is coming). As a new bar is built it can take ticks away from a previous bar. This may be called as 'inconsistent' way to build bars, and this is a main problem of using of such period types with order-flow tools, especially when it comes to processing of live data. Thus these types are incompatible with NinjaTrader's Tick Replay feature either.
Orderflow Bars NT8 constantly performs a basic check of incoming real-time data for consistency and stop working when data inconsistency is detected to prevent showing of unfair data.

The building of the common bars types like Range, Tick, Volume or Time bars are based on consistent, simple and clear logic. Those bars types are compatible with Ninja's Tick Replay feature as well as with the majority of 3-rd party indicators as opposed to the most of Renko bars types, for example.
The most of the Renko-bar types, Point and Figure Charting and LineBreak Charting may be excellent tools on on their own — all these bars types are actually self-sufficient trading tools, studies, and they should not be used in conjunction with order-flow tools on the same chart just because of the nature of how they are built.

Nevertheless, if you're accustomed to Renko bars please take notice of the Consistent Renko Bars Type NT8 which is specially designed for better compatibility with order-flow tools.
dt Reversal Bars Type NT8 is another volatility-based period type which is also compatible with order-flow indicators.


IV. General Parameters


V. Conditional Marks

Capping/Boosting Bars

'Capping Marks' serves to point bars where initiative trading activity maintaining established price swing (up or down) is steadily fading. That is, if buyers activity is steadily fading at some bar of upswing, then the bar will be marked.

'Boosting Marks' is an opposite concept to Capping. Just like climax bars which occur when the Delta increases from trending bar to bar and Delta also increases within the bar (from row to row). This would be interesting to mark the bars with opposite situation to the Capping situation.

There are two conditions of initiative activity fading detection in the OfB 'Capping Marks':

The 'Capping Marks' parameters are flexible so it is possible to mark the bars that satisfy only one of the criteria or both.

'Row-To-Row Fading Tendency' checkbox — check to enable the Row-To-Row Fading Tendency criterion — the decreasing from row to row of absolute value of chosen metric of initiative trading activity (Row Delta, Diagonal Imbalance, Bid or Ask contracts).

'Row-To-Row Tendency Metric' parameter allows to choose the metric of initiative trading activity to analyze for fading:

Row-To-Row Tendency Metric

'Row-To-Row Fading Threshold' parameter [0…100] sets the minimum required difference between rows in the value of chosen metric to consider that Fading Tendency is present.

Note

The Orderflow Bars is designed the way that all Threshold parameters are relative values (%), not absolute values (number of contracts, shares, lots…). This allows to use very similar parameters of the indicator with different instruments (futures, stocks, etc).

Thus, if the 'Row-To-Row Tendency Metric' is set to "Row Delta" then the [relative Delta difference between rows] is used instead of simple absolute difference to detect if fading tendency is present.

Relative Delta difference is calculated as the [difference of Delta values of two adjacent rows] divided into [average Volume of these two rows].

'Num of Extreme Rows to Compare' parameter sets the number of extreme rows of bar (starting from Top in the case of uptrend bar or starting from Bottom in the case of downtrend bar) to compare with each other by value of chosen metric.

Row-To-Row Tendency Metric

Scanning the bars to find those that meet the Row-To-Row Fading Tendency criteria makes sense generally when there is an established directional price move (upswing or downswing).

'Minimum of Trending Bars' sets the minimum required number of trending bars.
• A bar is considered as trending Up if its High is higher and Low is inside the range of the previous bar.
• A bar is considered as trending Down if its Low is lower and High is inside the range of the previous bar.

'Strict Trend Rule' checkbox imposes additional constraints to consider a bar as trending bar:
• A bar is considered as trending Up if its High is higher the range of the previous bar and its Low is higher than the Low of the previous bar and its Close price is not lower than Close of the previous bar.
• A bar is considered as trending Down if its Low is lower the range of the previous bar and its High is lower than the High of the previous bar and its Close price is not higher than Close of the previous bar.
The option is disabled by default for 'Capping Marks'.

'Bar-To-Bar Delta Fading Tendency' checkbox imposes additional requirement for defined number of consecutive trending bars to mark the last one as "Capping" bar. If checked then bar's total Delta should fade from bar to bar (which means that initiative trading activity weakens from bar to bar).

'Bar-To-Bar Delta Fading Threshold' [0…100] — The more the Threshold the more difference in bar's Delta is required in order to consider that the weakening tendency is present.


If you are new to NinjaTrader please watch these two short videos on how to download and install add-ons:
Part I — How to install an indicator in NinjaTrader.
Part II — Purchasing and license generation.

Please, download and try the add-on before buying. Evaluation period is 12 days.

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