Order Flow Rhythm

Modified on Thu, 07 Sep 2023 at 02:22 PM

The Order Flow Rhythm indicator shows the order flow speed as a heatmap on the chart. The indicator has two modes: Volume and Bid Ask. In the first mode, the indicator shows the speed for the entire volume of transactions, and in the second mode - separately for purchases and sales.


View of the indicator on a separate panel:



View of the indicator directly on the chart:



To add and configure this indicator, you need to open the Indicator Settings window:



Settings

Mode - selection of the indicator operation mode, there are two options:

  • Volume - shows the speed of the entire volume of transactions.
  • Bid Ask - shows the speed separately for purchases and sales

Period - smoothing period.


Heatmap settings

Color Scheme - select a color scheme

Upper cutoff, % - permissible in the visible range, maximum speed = 1000

Let's also assume that there is a segment with a speed of 800

If cutoff = 0, then the color of this segment will be calculated as 80% of the maximum color in the gradient.

If you set the value to 20%, the maximum speed becomes equal to 1000-20%=800 in this case. In this case, the section with a speed of 800 will be highlighted with the color of the maximum speed.

Contrast - allows you to filter the speed from low to high. The greater the contrast, the less segments will be visible at low speed.

Use transparency - turns on transparency to see what is under the indicator signals.

Custom proportion - set the value of the speed, which will be considered the maximum and in the ratio with which all areas of the indicator will be colored.


Misc

Show description - enables/disables the display of the indicator name on the indicator panel.


Drawing

Panel - select where to draw the indicator

  • New panel - drawing the indicator on a separate panel.
  • Chart - drawing the indicator on the chart.

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