Orderflow issues on EURUSD/forex pairs

[WHICKED]

When applying the Order flow delta to a EURUSD chart I get the following on the charts - I do not think that it would show this for a EURUSD chart as all red.

[NinjaTrader_Jim]

Hello WHICKED,

Thanks for your post.

This is because the Order Flow tools compare bid/ask prices to Last tick prices to identify buys and sells.

Since FOREX does not have a centralized exchange, there is no Last tick. NinjaTrader will substitute the Bid price in place of the Last price, so we can see results like this when viewing FOREX.

Up/Down tick calculation may be considered as an alternative when using Order Flow tools on FOREX.

Let us know if you have any additional questions.

[WHICKED]

Hello WHICKED,

Thanks for your post.

This is because the Order Flow tools compare bid/ask prices to Last tick prices to identify buys and sells.

Since FOREX does not have a centralized exchange, there is no Last tick. NinjaTrader will substitute the Bid price in place of the Last price, so we can see results like this when viewing FOREX.

Up/Down tick calculation may be considered as an alternative when using Order Flow tools on FOREX.

Let us know if you have any additional questions.

On the areas at the bottom - i selected all the different options that you could for that indicator - as you can see the up/down tick is also following suit and not working as well.

[NinjaTrader_Jim]

Hello WHICKED,

Are you connected to a FOREX data provider that offers historical tick data?

Data by provider - https://ninjatrader.com/support/help...y_provider.htm

I tested with FXCM and received the attached result.

[WHICKED]

So for your Orderflow tools - is there a data provider that provides Bid/Ask on forex - otherwise you have to resort to using tick up or down (which is wholely unreliable)?

[NinjaTrader_Jim]

Hello WHICKED,

The short answer is no.

FOREX does not have a centralized exchange, so there is no Last tick. NinjaTrader will substitute the Bid for the Last price in order to build a chart, but we cannot make Bid/Ask price comparisons to the Last tick to see if it was a Buy/Sell because of this fact alone.

I'm really not sure how that kind of analysis could be done with FOREX.