Time and Sales Window vs SuperDOM

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Video Transcript:

Hello, traders. Welcome to the NinjaTrader tutorial and the fifth module, Time and Sales. In this lesson, I’m going to go through the tool and I’m going to show you the main difference between the superDOM, and the time and sales itself.

Time and sales window ninjatrader

Okay, so on this window, we have the crude oil chart for the November contracts, we have the superDOM on the right, and in the middle we have the Time and Sales window. I know it looks just like a bunch of numbers going around, but it’s very important for you to understand what this tool does. As you can see right here, the main information that you get from the Time and Sales, is the time and the level the trades have been filled and the size of each trade. Right here we have one contract, we have a two contract at 5110, etc.

Now, the difference between the Time and Sales and the superDOM is that, the Time and Sales is actually set on stone. For instance, did you look at the momentum to the upside, and the Time and Sales went all blue. This is why it’s important. I mean, on the superDOM you can look at how the orders are being stacked or how the orders are being sent into the market. But the Time and Sales will actually tell you, at what levels and on which side of the market they are being hit. For instance, this red orders at 5114 are being hit on the bid-side because price is going to go down. And the blue orders, at 5113 are being hit on the ask-side because they are buyers, and they are pushing price up.

Now, the important thing to understand about the Time and Sales is that when you use it with a chart and the superDOM, it will give you an idea of where the momentum is going or if we have momentum in the market. For example, you can see that right now we are at the 5113, 5112 level and we have more orders on the sales-side of the market than we have on the buy-side of the market, and you can see that the Time and Sales is hitting on the bid-side of the market because the orders that are being filled are red. This means that sellers are hitting the buy-side of the market and pushing price down. This doesn’t mean that price is going to go down but in accordance to the chart, if we go below the 5105 level, we are going to see a lot of red.

The cool thing about the Time and Sales too, is that you can spot block trades. Block trades are trades that are larger than usual and they are meant to block the momentum in the market. Now what we are going to do next is, I’m going to show you in the next lesson, how to configure the Time and Sales because if you don’t configure it correctly, you are not going to get the information that you need out of it, and you might actually get crossover information if you don’t color-code it correctly.

Adam

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