This article analyzes Competitors to GoCharting for Order Flow. I will evaluate competitors that provide additional order flow analysis with footprint charts, market depth and/or liquidity, and volume profiles.
I will review these competitors’ offerings and help traders assess and compare what tools would best suit their order flow analysis and trading strategies.
Key Points
| Platform | Explanation |
|---|---|
| Bookmap | Visualizes market liquidity, order flow, and price movements in real-time. |
| Sierra Chart | Provides advanced charting, market depth, order flow, and trading tools. |
| NinjaTrader (Order Flow +) | Offers advanced order-flow analysis, volume profiles, and market-depth visualization. |
| Quantower | Combines charting, order flow, market depth, and multi-asset trading. |
| ATAS (Advanced Trading Analytical Software) | Provides professional order-flow charts, volume analysis, and trading analytics tools. |
| Jigsaw Trading | Focuses on order-flow trading, market depth, and execution analysis. |
| Optimus Flow | Delivers order-flow charts, footprint analysis, DOM, and futures trading. |
| TradingView | Offers powerful charts, indicators, alerts, and broad market analysis capabilities. |
| MotiveWave | Provides advanced technical analysis, charting, trading strategies, and market analysis. |
| cTrader | Supports forex trading with advanced charts, algorithms, and market-depth tools. |
10 Top GoCharting Rivals for Order Flow Tools
1. Bookmap
Bookmap is focused on visualizing order flow and order book behavior. Their products include real time liquidity heat maps and other tools for analyzing order flow and market depth. Rather than teaching their users footprint style analysis, Bookmap focuses on helping their users understand how different orders impact the order book and how liquidity enters and leaves the order book.
Bookmap helps users understand how orders are stacked by showing users what orders are currently on the book. Bookmap gives users tools to analyze order flow and help users understand aggressive trading by showing trade and order volume. Bookmap helps users analyze both directional and nondirectional markets.
Bookmap helps futures traders by integrating multiple data providers, and helps traders execute orders using integrations with various brokerage APIs. Overall, Bookmap is a great product for traders who analyze order flow and liquidity.
Bookmap Features
- Liquidity Heatmap: Displays the orders that are currently in the book and shows how book liquidity changes at different price levels.
- Market Depth: Displays the order book and shows the location of the largest orders at different price levels.
- Volume Profile: Displays the volume at different price levels and shows how the price action developed.
- Order Flow: Displays the orders and trades that changed the market liquidity.
2. Sierra Chart
Sierra Chart specializes in providing deep order flow analysis by providing tools such as time and sales data, order books, footprint charts, and volume profiles. Their footprint charts help users analyze order flow by showing orders at various price levels.
Sierra Chart helps users analyze order flow and market depth by showing orders that are beyond their order books and provide other tools for advanced order flow analysis. Sierra Chart helps users analyze traded volume, open interest, and other complex order flow measures.
Trading is integrated across numerous markets, and Sierra Chart provides deep market and order analysis. Sierra Chart helps users integrate their trading and analysis tools by providing tight integration between their order execution and charting tools. Overall, Sierra Chart helps users analyze advanced order flow, financial instruments, and markets.
Sierra Chart Features
- Footprint Charts: Displays bid and offer activity at price levels.
- Order Entry: Allows the user to place orders and removes the need for a separate order management system.
- Volume Profile: Shows the largest traded volumes at different price levels and significant volume in the market.
- Market Statistics: Displays statistics and provides tools for in-depth analysis of the market.
3. NinjaTrader (Order Flow+)
Compared to NinjaTrader Order Flow+, Quantower, while having order flow and volume analysis tools, focuses on other areas as well, and thus contains more overall features. Cluster charts, volume profiles and time and sales, VWAP and TPO are some of the features Quantower provides.
Cluster charts are unique to Quantower and help determine buying and selling pressure at different price levels. Other features include analysis of market depth and the bid/ask and total volume.
Also included are automated statistics and analysis of various orders and trades, along with domestic liquidity. Supported connections help traders execute orders. The tools, while focused on various financial assets, give traders flexible order-flow analysis.
NinjaTrader Order Flow + Features
- Volumetric Bars: Displays the bid and offer at price levels and shows traded volumes.
- Cumulative Delta: Shows the pressure in the market and if the market is predominantly bought or sold.
- Volume Profile: Shows the most traded prices and the activity at different price levels.
- Market Depth Map: Displays orders at different price levels and live activity in the order book.
4. Quantower
Quantower is a multi-market order-flow and volume-analysis trading platform. It provides order-flow and volume-related tools and features including TPOs, Cluster Charts, Time & Sales, and volume stats. TPOs and Time & Sales provide traders information on the best bid and offer.
Cluster Charts provide traders information on order-flow and time, as well as, price and volume information. It provides DOM and market-depth. Volume analysis and profile tools include value and point of control, total and delta trade volume, and trade counts.
It offers traders information on VWAP. Quantower supports numerous exchanges, brokerages, and instruments. It is designed for, and provides tools for, analysis of order-flow and volume.
Quantower Features
- Cluster Charts: Displays traded volumes and orders at different price levels.
- Volume Profile: Displays activity at price levels and shows important areas for market activity.
- DOM: Displays orders and activity on the order book and allows the user to trade.
- Volume Statistics: Displays descriptive statistics for traded volume.
5. ATAS (Advanced Trading Analytical Software)
ATAS provides a host of software features and tools geared towards technical analysis of professional trading and order flow. Its features and tools encompass smart charts, DOMs, order book, footprint, cluster charts, different forms of profiles (volume, time, distribution), market depth, sales, and other forms of analysis.
The software helps clients analyze and visualize different forms of orders and trading activities. Smart DOM allows users to analyze and monitor different forms of orders and liquidity on the market.
It provides advanced analysis tools based on delta and cumulative values to assess buying and selling pressures. ATAS facilitates order and trade executions via its trading and chart DOMs.
The software is best suited for traders and professionals that require advanced analysis of trading, order flow, footprints, liquidity, and different forms of market structures.
ATAS Features
- Cluster Charts: Displays trade activity at price levels.
- Smart Tape: Displays trades and shows market activity.
- Smart DOM: Displays orders and activities on the order book and allows trading.
- Volume Profiles: Analyzes different aspects of participation and volume distribution.
6. Jigsaw Trading
As its name implies, Jigsaw is focused on order flow and real time analysis of market depth. It employs DOMs, sales, and different forms of analyses and depictions of market depth and orders to achieve its objectives. Jigsaw provides tools and features that enable traders and clients to analyze different forms of orders and trading activities.
The software’s unique strength is its direct interaction with the order book and market depth. It also provides tools and features to evaluate buying and selling activities based on trading volumes. Jigsaw is best suited for advanced traders and investors that primarily employ discretionary strategies and actively participate in the market.
Jigsaw Trading Features
- DOM Trading: Supports order-book trade execution and analysis.
- Depth of Market and Large Trades: Shows market-depth activity and large trades.
- Order Flow: Analyzes participation and transaction activity.
- Execution: Enables order-flow trade execution.
7. Optimus Flow
Optimus Flow and TradingView are sister apps that cater to order flow analysis. Each program provides advanced charts and analysis for an integrated approach to trade flow. While both apps overlap to a large degree, this analysis differentiates the two.
Optimus Flow provides advanced order flow analysis tools including Footprint Charts and a Depth of Market (DOM) analysis tool. The Footprint Charts display order flow analysis by individual prices and can show buy/sell imbalances.
The DOM provides analysis of the best bid and offer including liquidity. The analysis can be configured for flow or rest. Volume Profile analyzes trade flow by price and can be configured to show space and time. DOM Surface is a heat map of the order book that displays liquidity and trades.
Optimus Flow has integrated futures markets and provides direct trading and execution through its DOM and charts. The program is best suited for traders analysis order flow and provide liquidity in the futures market.
Optimus Flow Features
- Footprint: Shows order-imbalance and participation at various prices.
- Order Book: Shows order book and trade execution.
- Volume Profile: Shows participation at various prices.
- DOM: Shows order book and liquidity.
- DOM Surface: Shows activity and liquidity.
8. TradingView
TradingView also provides a suite of analysis tools for order flow and volume. The Volume Footprint analysis tool displays a volume profile for each candle as well as volume delta, the Point of Control, and Value Area.
As with Optimus Flow, the depth of analysis for order flow and volume depends on the instrument and data availability. TradingView has an extensive data ecosystem and is geared toward equity and forex markets. It provides order flow analysis and trading integration for supported markets through connected brokers.
TradingView Features
- Volume Delta: Shows differences between sale and purchase volumes within a candlestick.
- Value Area: Locates Point of Control and value areas, and shows large volume levels.
- Market Depth: Offers detail on order book dependent on connected instruments and services.
9. MotiveWave
MotiveWave’s charting software focuses on order flow. Footprint charts, profile volums, and various other volume studies are offered to help identify large buy/sell orders in the market. Along with traditional order flow studies, the software offers various tools for technical analysis.
For example, the software can generate traditional candlesticks or for that matter any type of price bars. To implement the various strategies generated by the software, it offers tools to interact with the market in an automated fashion via DOM.
The software is able to integrate with many data feeds and brokers to provide access to different markets. Overall, the software provides a technical and order flow framework to analyze the markets.
MotiveWave Features
- Footprint: Analyzes buying and selling activity relative to price levels.
- Volume Profile: Shows potential volume and trade proximity and activity.
- Market Depth: Shows order book detail relative to connected liquidity.
- Volume Studies: Performs advanced volume analysis and integration with charting.
10. cTrader
cTrader focuses on offering various order execution and automation services integrated with market-depth and charting capabilities. The order execution services and automation are primarily offered through the DOM. Several views of the DOM are offered, including a Price Dom view.
Like other DOMs, the standard view of cTrader focuses on order liquidity and depth. The Price view of the DOM offers tools for order management and trading directly from the depth. VWAP DOM is offered to help evaluate average prices of various trade sizes.
cTrader provides market depth via its API and, in addition to bid/ask prices and quantities, offers time and sales. cTrader is associated with forex and CFD brokers, and, therefore, the depth and markets offered by the platform are limited to that offered by the broker. It is best suited to automate forex and CFD trading along with order execution and charting.
cTrader Features
- Standard DOM: Offers order book detail for market and limtic orders.
- Price DOM: Shows order detail at price levels.
- VWAP DOM: Displays order book detail at price levels relative to trade volume.
- Market Depth API: Offers market depth programmatically.
Conclusion
In conclusion GoCharting competitors provide order-flow tools such as footprint charts, depth of market (DOM) charts, volume profiles, and related order-flow analysis and execution tools.
Investors can compare offerings based on the financial markets covered, analysis and charting tools and features, and integrated trading tools and services.
The best choice for a given investor will be based on investor’s trade tactics, preferred order-flow tools, financial markets to be covered, and the investor’s overall trading workflow.
FAQ
What are the top GoCharting alternatives for order flow?
Bookmap, Sierra Chart, NinjaTrader, Quantower, ATAS, and Jigsaw offer alternatives.
Which GoCharting rival offers advanced liquidity visualization?
Bookmap specializes in heatmaps, liquidity tracking, market depth, and order-flow visualization.
Which platform provides detailed footprint and volume analysis?
ATAS provides cluster charts, volume profiles, Smart DOM, and delta analysis.
Which alternative is suitable for futures order-flow traders?
NinjaTrader provides volumetric bars, cumulative delta, volume profiles, and market-depth tools.
Which platform offers customizable advanced order-flow analysis?
Sierra Chart offers highly customizable footprint, DOM, volume, and market-depth tools.
