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BFT OrderFlow Scalper indicator gives buy & sell signals as it determines the best place to enter long or short using orderflow footprint volume analysis.
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This indicator is a useful tool for scalping and day trading.
Basically, this Indicator particularly looks for Change in volume and price action to generate signals.
By managing the entry correctly, you can gain consistent points in the market.
BFT OrderFlow Scalper Indicator Benefits:
- Get confident trade entries for scalping and day trading.
- Quickly view entries using Visual Signals on the Chart
- Get freedom to move away from your computer by simply using our audio alerts.
- Trade on any timeframe to get more opportunities.
- Spot the trend easily by using Background color changes.
BFT OrderFlow Scalper Indicator Requirements:
- Your Data Provider should provide information about Bid and Ask Volume
Indicator Properties Window:
| Property Name | Description | Default Value |
| MinVolume | Minimum bar Volume to generate the signal | 1000 |
| SoundAlert | Enable sound alert | True |
| BuySoundAlert | Sound file to use for Buy alert. Make sure that sound file is present in “C:Program FilesNinjaTrader 8sounds” folder. | Alert1.wav |
| SellSoundAlert | Sound file to use for Sell alert. Make sure that sound file is present in “C:Program FilesNinjaTrader 8sounds” folder. | Alert1.wav |
How to Trade using BFT OrderFlow Scalper?
As you can see on the 8 range ES chart to the left, BFT Orderflow Scalper generated buy and sell signals. I always check price action along with EMA in order to take buy/sell entries.
Avoid first four signals as price is in tight range. EMA is kind of flat. Take entries once EMA start trending.
As you can see on the 8 range ES chart to the right, BFT Orderflow Scalper generated buy and sell signals. I always check price action along with EMA in order to take buy/sell entries.
First two signals can be taken as EMA had started trending UP. Later, price created a downward Flag pattern which is kind of Bullish. So, sell signal should be avoided but you can take buy signal if you wish.
As you can see on the 8 range ES chart to the left, BFT Orderflow Scalper generated buy signals. I always check price action along with EMA in order to take buy/sell entries.
All entries except the last one would have been successful as EMA was trending nicely initially. For the last signal, EMA was kind of Flat and market was range bound.
Similar Indicators:
PORK indicator will show you better location to take the trades with good stop loss and take profit levels.
Wave Manager indicator draws Elliott waves, so you be confident of your trade entry.