Order Flow Indicator Showdown: TradingView vs Trader Dale

[@Fishster]

Tradingview uses tick data internally (in the cloud where it does calculations). It just doesn’t update the client every tick but there again it’s not every minute either. I think it’s more than once a second maybe dependant on subscription level?

[@Weltbummler23]

The issue here is that tradingview is still not using BID and ASK data, even if its aggregating the tick data in the cloud, we aren't getting correct level 2 tape and sale data in this release. Very disappointing.

[@Fishster]

@@Weltbummler23 Indeed, it uses uptick vs down tick volume I believe. Probably close enough for most applications certainly for Dales approach which is really looking for weight at a level. TradingView is a poor choice for those sorts of analytics but I’d argue that despite being greatly improved in version 8 Ninjas not the best either.

[@Roberto_Irace]

@@Weltbummler23 if you are speaking about forex and cfd, also Dale's order flow doesnt works with bid and ask, because its decentralized market. You can have bid and ask only on futures

[@denwoo1402]

Supposedly Tradingview now has tick data but only for the professional level which costs much more. It would be interesting to know if the footprint chart for that level would be able to give more accurate footprint charts

[@mikelger]

1st Question - what do you think about SierraChart Order Flow Tick Chart software in comparison to your software package? 2nd Question - Is it possible with your software package to develope automatic trading systems. 3rd Question - whats about the price for tick chart data. I am trading the SI, NQ, ES Futures and big NQ shares. Thank you for your answers in advance Mikel

[@mdmimamun9669]

watching from Bangladesh❤

[@SriDhatree]

Very scientific review which can only be given by an expert. Thank you for the wonderful review.

[@Weltbummler23]

Hey dale, i do think tradingview is using smaller than 1 minute granularity data to compute the footprint. Possibly one second granularity since the premiun subscription is required and 1s granularity is included in premium but not the lower tiers. But its def possible its not tick level, so thats where some discrepancies may be.

[@Weltbummler23]

Hey Dale, i just confirmed that TV is using 1 second data granularity to compute these footprints. You can verify this yourself looking at the 1 second footprint and see that each row has the same values for bids during the second. I'm not surprised this is how TV does it, as I was just getting ready to build a total volume footprint view myself using this same aggregation from lower time frame approach. However, for calculating things like deltas for an entire bar, lets say 1 minute bar, shouldn't this approach be fine, as the number of trades at the bid and total number of trades at the ask for the entire bar should be correct? The error with the TV approach is associated with accurately identifying the price levels that each buyer and seller bought at, as they all get blurred across the range of the 1 second candle.

[@Weltbummler23]

Actually this is even worse than i thought. Tradingview isnt using orderflow data at all. Its using one second DIRECTIONAL movements in price to determing buying and selling volume. Its not using bid and ask level 2 data. UGH, maybe this has some merits but stay away, I'd imagine...

[@harialkauther1047]

will this work in Indian markets? Can I use this for trading Nifty or Bank nifty futures?

[@TraderDale1]

Yes, my indicators work for these markets too. It all depends what data they provide for Ninjatrader 8. I have verified that they are sufficient for the Volume profile.

[@WEALTHEMPIRE0109]

Hello sir . Please I wanted to ask , is it possible to just purchase your order flow and volume software without actually paying for the course . And how much will it cost

[@apmdiesel]

If I were to purchase your software, and I have your IT set it up on the NT8, Can I have replace the filter frame with a normal candlestick trading view so I can easily do my S/R and trendlines while looking at order flow.

[@vijaisudarsanam8688]

When we use Manual mode we can define 5 ticks for the delta, is this what u were looking for?

[@vital11122]

Can you compare please paid native Ninjatrader Orderflow+ addon with your software? It costs 60$/mo, or included with lifetime ninjatrader license.

[@DennisRamiro]

What about the price feed data? is it free included or another subscription as well for NinjaTrader?

[@timclayton8214]

I see that TradingView has tick data in Beta but you need to upgrade to at least the Expert plan at EUROS 2399 a year! i will get Dale's software - thanks Dale

[@JustStartingOut-nt8ve]

Are you using a free version of Trading View? If you pay, Tic data should be available. On the other hand, the problem that I have with Trading View is not the data but "Apply gradient to background" appears to be normalized for a given candle stick (time period) and I cannot tell the volume relationship between different candles. For example, the same number 500 could have different color depending on the total volume of the time period. Or, the same color represent totally different numbers such as 2,000 and 200 depending on the total volume of the time period. So, you cannot really judge large number of aggressive buy or sell based on the color.

[@TraderDale1]

I'm using the paid version and I tried to modify it in various ways... However, the results are still not the same as in Ninjatrader 8... So I'm still sticking with Ninjatrader.

[@zarghammalik5093]

HI DALE CAN WE USE YOUR SOFTWARE FOR MAJOR PAIRS SPOT TRADING

[@soaringrich3573]

speaking of accuracy, what you mean is that the footprint chart on Tradingview is useless??

[@progma137]

Watching from Ukraine. Thanks!!

[@TraderDale1]

Thanks for watching!

[@Crystal_Skull_]

Thanks a lot for the books.

[@coco_the_atc]

Great comparison. Thank you!

[@malston01]

Does this work on US Equities or only Futures?

[@Peacetube2011]

watching from UK 🇬🇧

[@Alhashimi0777]

Me 2😊

[@mikelger]

Trader Dale I fogot to say: great video👍

[@onniyli-heikkuri6741]

Great video. Would be nice to also hear your opinion on gocharting’s orderflow software.

[@globetrotter-qs6ke]

Great video as usual

[@ibrahimsadaty4537]

Add yours to trading view.

[@TraderDale1]

I will..

[@updateddatabaseleads482]

Tell me genuine price is this work in Indian Market

[@Trollberg]

How do you get live data on NT

[@peterpeter8217]

Sign up for it.....

[@KemalKemalow-eq6yr]

Watching from Turkmenistan

[@damianforma5835]

watching from Poland

[@anovi72]

Dzien dobry!

[@Weltbummler23]

Dale, there's a reason why trading view calls the footprint type "buy and sell" rather than "bid and ask" - its not using level 2 bid and ask data at all. You can look at the code for this footprint or the new TV cumulative delta script and see its aggregating price movements from the 1 second chart, with buys being 1 second moves up from previous close, and sells being 1 second moves down. Its even worse than you think! Make another video!

[@ArunSharma-ek9tl]

You can het tick data ypu just have to pay for it

[@HKAYASTAN]

I sent a message via e-mail.. no response