Today is one of the milestone in the history of day trading.
Today is the day that NinjaTrader has released the beta version of NinjaTrader 8 to its user community.
What you see here is the NinjaTrader 8 and you will notice that the bars are color coded.
This color coding represents different levels of buying pressure, selling pressure, sweeps of orders in the order book and exhaustion in the order book.
Prior to the release of NinjaTrader 8, it was impossible for PC based traders to have order flow algorithms on par with professional quant and hedge funds for a few significant technical reasons.
First, the data feeds did not provide millisecond time stamps nor did they allow for calculations that could include discrete inside bid and ask data at that level of granularity.
As the market leader in order flow monitoring algorithms, we here at sceeto have been dealing with this very discrete data for over a decade and have tremendous insights into how to write algorithms that can sniff out actionable insights from this data.
Prior to the release of NinjaTrader 8, we began creating a new suite of algorithms that would leverage the power of NinjaTrader 8.
The color coding that you see here is part of a suite of algorithms that we are readying for release.
This kind of data analysis will expose you to advantages that were previously unavailable to the general public.
If you think that this stuff is neat, and want to learn more, join us for a free workshop tomorrow, Tuesday September 22nd @ 4:15 p.m. eastern, where we will review the latest advances in order flow technology made possible by NinjaTrader 8.
Here is some info from NinjaTrader that will help you get your head around the some of the new feature sets in NinjaTrader 8.