As many of you know, there are many order flow software vendors out there. Many of us traders are not able to tell which software will add more value to our day trading.
Look, I’m not here to make others look bad. I’m only writing this to talk about what works for me and why.
So let’s delve into my list starting from number four (4)
4. Orderflows by Mike Valtos
I know some of my students will be greatly disappointed. I like Mike’s work. One big plus is the orderflow ratios feature. This is a unique logic that many vendors have tried to copy. Mikes coding stands out and this is why he will constantly improve on his software versions every quarter as he knows the logic behind how his software works.
On the flip side, Mike doesn’t seem to pay much attention to delta variables. For me, Delta analysis is key as far as my day trading strategy is concerned.
3. The NOFT – Ninja Orderflows Futures Trader
The NOFT is greatly underrated by traders especially those that don’t pay attention to Volume. Remember I mentioned before that PRICE, DELTA and VOLUME are some of the best ways to analyse any Price Action. The NOFT has supply demand zones feature.
It also has the sequential decline logic coded within it. I will do a post to talk about what these sequential declines are all about. I use them but not always. This is an extra feature and for that i give a plus. Great work.
However, its disappointing that the great NOFT team still upto now haven’t improved their GUI aka User Interface. Issues such as delta and COT (Commitment of Traders) are not easy to the eye thus hiding very Important information to newbie orderflow traders.
2. Trade Winger by Ludvik Turek
Ludvik has a team of experts that have done some really great coding. One of the most notable features is the VWAP Market Profile. I’m sure some of you have read that book by Peter Steidlmayer on Market Profiling. This forms the backbone to my day trading.
Delta data is very well represented on Ludvik’s software. Please revisit my delta post. The user interface is good. You can easily navigate through the different footprint charts as well as disable what you wouldn’t like to see on your footprint.
I think Ludvik needs to throw in the supply demand zones feature.
1. GZT – Golden Zone Trading Order Flow Suite
When it comes matters footprint charts, the GZT team have produced a masterpiece. The GZT Print Profiler is like a cockpit. Easy to use, one can easily toggle what to view and what not to. Supply Demand zones feature has been integrated into the print not forgetting market structure, and the Auction Curve!
What makes it stand out as the best order flow software out there right now is the automated signal detection algorithm. This includes most of the order flow patterns. Exhaustion, Absorption, Imbalances, Divergences all on one chart.
Lastly one of my favorite tool is the barometer and the multi-time frame golden fibbs. They are powerful tools especially for day traders. Scalpers on renko or range bars can know where to place stops and targets intraday. This software suite on the best out there right now (October 1st 2019). Get your hands on it and you are closer home. Trading is a game of fine margins, everyone is working hard to find an edge. GZT order flow suite gets you closer to finding one if properly used.
There are many order flow softwares that i have not mentioned. The are others that offer even better features. However, not all softwares out there are affordable. Not every trader is willing to pay monthly fees.
I recommend buying lifetime licences. But before you do that please be sure to try out the software of your choice for 2 weeks at least. Some will limit you to 1 week. Ignore this vendors. Without proper knowledge on what orderflow is about, you will probably need to negotiate for more trial period (if possible).
To find what works, you may be forced to spend some extra dollars. Always remember this.