I thought this was a VERY cool widget.What is it?
It’s from Algo Futures, a real-time trading application that
focuses on creating algorithms that monitor and interpret Order Flow for the purpose of harvesting real-time trading opportunities that either piggy-back Institutional, High-Frequency and Prop Desk trading campaigns, or enter into trades where the lack of order flow creates price vacuums - which are the underpinnings of short-term reversals.
Grab your own cool WOW Index widget here.
Take your pick of the e-mini S&P 500, Crude Oil, Dow 30 or STOXX 50 futures contract. I selected Crude Oil.What does it all mean?
Align your trades with those that drive the market by trading in the direction of the main program trades. This is what is displayed in real-time on the WOW Index Monitor i.e. on the cool widget!
Here’s how to interpret what you see:
If you see consistent green across the trading day, do not go short. It will only cause you pain.
Conversely, this does not mean that if the day is all green, you can jump in at any point. But it does give an indication that you should be looking for long entries only.
Find out more on the AlgoFutures web site.