ORDER FLOW DASHBOARD Percentage Based

The ORDER FLOW DASHBOARD Percentage Based indicator provides a compact percentile-based order flow analysis toolkit for futures and intraday trading. It utilizes bar structure and volume proxies to estimate market pressure, aggressive order flow, and institutional activity directly on the chart.

Usage

The Usage section describes how the script can be used, examples should be provided in this section. This tool is designed to provide directional context without the need for expensive external data feeds.

DOM Panel

This panel estimates bid vs. ask pressure. It calculates the internal volume split of a bar based on the close relative to the high-low range. A close near the high indicates buying pressure, while a close near the low suggests selling pressure. Users can monitor the "Net Delta" over a specific lookback period to see which side is currently dominant.

Tape Panel

The Tape panel estimates aggressive versus passive order flow. Bars closing in the upper half of their range are classified as aggressive buyers (lifting the offer), and those in the lower half as aggressive sellers (hitting the bid). This provides a real-time view of which side is "winning" the tape.

Big Contracts Panel

This feature flags bars where volume exceeds a user-defined threshold, serving as a proxy for block trades or institutional activity. Each entry displays the price, volume, direction, and a New York exchange timestamp.

Confluence Signals

The script automatically looks for confluence between the DOM and Tape panels:

• BUYERS LEAD: Both panels are bullish (Strongest bullish signal).
• SELLERS LEAD: Both panels are bearish (Strongest bearish signal).
• CONFLICT: Panels disagree, suggesting potential absorption or an impending reversal.

Details

The script operates on the principle of price action proxies since Pine Script does not have access to raw Level 2 DOM or individual market order sizes.

• DOM Proxy: Volume is split using the formula buyVol = volume * (close - low) / (high - low).
• Tape Proxy: Aggressor classification is determined by the close's position within the bar's range.
• Big Contracts: Identified by total bar volume spikes rather than individual tick data.

The tool includes a Minimalistic Mode to remove background colors for a cleaner look and a Color Blind Friendly Mode that swaps the standard red/green palette for blue/orange.

Settings

General

• Show Dashboard: Toggles the visibility of the entire interface.
• Dashboard Position: Sets the location of the panels (Top Right, Middle Right, Bottom Right).
• Color Blind Friendly Mode: Replaces red/green with blue/orange.
• Minimalistic Mode: Strips row background colors, leaving only colored text.
• Session Filter: Limits calculations to a specific time range (e.g., US RTH).

DOM / Tape

• Lookback (bars): Determines the number of bars used to calculate percentages and delta.
• Alert Threshold (%): The percentage required to trigger a dominance signal.
• Colors: Customization options for buyer/seller text and backgrounds.

Big Contracts

• Big Contract Threshold: The volume level required to log a "Big Contract."
• Detection Timeframe: Allows for granular detection (e.g., monitoring 1-minute volume spikes while on a 5-minute chart).
• Max Rows: Controls how many historical big contracts are listed in the panel.

Alerts

• Alert Options: Individual toggles for Big Contracts, Extra Large Contracts, DOM Dominance, Tape Dominance, and Confluence signals.

FAQ

How do I interpret the "Conflict" signal in the confluence row? A conflict signal occurs when the DOM shows buying pressure but the Tape shows aggressive selling (or vice versa). This often indicates "Absorption," where passive limit orders are soaking up aggressive market orders, frequently preceding a price reversal or consolidation.

Why does the Big Contracts panel show "ASK" when price is moving up? Because the script uses volume proxies, an "ASK" label on a volume spike indicates that according to the bar structure, aggressive sellers were hitting the bid or the bar closed in the lower portion of its range despite the volume.

How do I access the ORDER FLOW DASHBOARD Percentage Based? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.