I try to keep things simple and focus mainly on the candles mainly 5m/15m/1h, with 4h/1d giving me the bigger pictures, volume, volume profile and vwaap. Consideration is given to ADD, VOLSPD, for trending days. I know tick is popular with scalpers, which isn't really my style. curious what others use.
%% I use charts like that; but dont have the Williams % on bottom or what ever that is.And a 50+200 period ma.............................................................................,
I'm not a huge fan of candlesticks. I use Bookmap's heatmap of the bids and offers that are pulling and adding over time, allowing me to quickly get a view of the size and see where the market may be headed. Combine that with their new Icebergs On-Chart indicator, Stop Tracker, Order Book Volume, and VWAP (Volume Weighted Average Price) and you've got a pretty accurate pulse on the market.
Beginner's Guide to Market Internals https://www.topstep.com/blog/beginners-guide-to-market-internals/ Market Internals https://elitetrader.com/et/threads/market-internals.353138/ Anyone use market internals (NYSE TICK, TRIN, etc.) for day trading? https://elitetrader.com/et/threads/...ls-nyse-tick-trin-etc-for-day-trading.327392/
Basically, Stop Orders are latent orders that are not visible in the order book, but when they are triggered they execute as market orders. Thanks to something called Market-by-Order data from the Chicago Mercantile Exchange (CME), it's possible to accurately detect the size, quantity, and price level of Stop Orders when they transact. Check out their website. You'll need either their Global or Global+ subscription package which is $36 or $79 per month (respectively), Rithmic feed (price depends on exchanges you want), and the MBO Bundle of addons. They have a lot of educational videos for free on their YouTube channel. This series is a good place to start:
That’s not really accurate. I read this article https://bookmap.com/blog/bookmaps-stop-iceberg-tracker-with-mbo-data/ They don’t know these are stop orders, they just assume it after the fact.