First of all i hope this thread is in the right place here. Recently i have discovered a product which might come in handy to fine tune my manual trading entry's and stops. Unfortunately it is expensive and i am unable to find out if it would be of use for me during the short trial period. What i am looking for is an alternative for the so called OFA charts. https://prnt.sc/g9r4hr So the boxes inside the candles show cluster volume for each candle, read means sell cluster, green means buy cluster and gray means neutral. The OFA package costs 197$ each month or 1997$ for lifetime licence. Since this feature is the only one i will use i find it way to expensive. Does anybody here knows some (maybe free) alternatives for this kind of charting? Edit, it looks like i am unable to upload a picture so i placed a link instead.
I haven't looked too closely at OFA however looking at the picture provided it seems as if they are highlighting the VPOC (Volume point of control) of each bar and then color coding it depending if the volume delta is negative or positive. You could probably see the same thing on any good footprint chart. I do not use Sierra chart so I do not know what is available. I use Ninja Trader with the "Rancho Dinero/Acme analytics" Volume impression chart. It automatically outlines the VPOC and you have the option of displaying either "bid/ask", "Uptick/Downtick" or volume delta for each price in the bar. I think sierra charts calls it "numbers bars" since "footprint chart" is trademarked by Market Delta (or so I remember hearing)
Look at investor r/t from www.linnsoft.com , market delta is a version of investor r/t with footprint charts. Investor r/t may do what you require at much lower cost than www.marketdelta.com
No , this is the wrong place. ET sucks for anything useful. Ya, OFA Someone already ripped OFA for Sierra chart- see this thread- https://www.sierrachart.com/SupportBoard.php?ThreadID=3102 The study provided in the thread will copy OFA's P&R bars almost exactly, and it will cost you $0 if you already a Sierra chart subscription. Sierra chart is dirt cheap compared to any other decent platform. they basically give it away.
Thanks, i had found this before but i was unable to get it working. I have sended a message to the creator to ask for more instructions