Level 1 or level 2

[Robbie22]

What's the difference in level 1 and level 2 data for my price action trading style ? I have never really inquired about the difference.

[NinjaTrader_Erick]

Hello Robbie22 ,

Thank you for reaching out.


The difference between Top of Book (Level 1) and Full Market Depth data (Level 2) is that Top of Book data provides only the latest bid and ask prices, while Market Depth refers to the amounts of money waiting to be matched at all prices in the market.

Full market depth data allows you to get an expanded view of the entire market, not just the three "front-end" prices.

Reasons why you may need Level 2 data:

- You want to see more levels of Bids and Orders in the SuperDOM.

- You want to make full use of the platform's Order Flow+ tools, specifically the Market Depth Map

- You have certain indicators that require full market depth data to plot.


In the end, only you will know whether you need Level 2 data or not, but you may choose to change or upgrade your data subscription (from the NinjaTrader Client Portal for NTB accounts) if you decide in the future that a different subscription would benefit you.


Let us know if we can be of further assistance.