Big or smart money and professionals act by Market-Limit and Stop-Limit orders.
What Market-Limit orders are?
Market-Limit orders are executed at the best price available in the market. If the Market-Limit order can only be partially filled, the order becomes a limit order and the remaining quantity remains on the order book at the specified limit price.
Filter orders by Market-Limit NinjaTrader 7 Indicator
Market-Limit orders consist of two parts – the market part and the limit part. You can filter orders in Market-Limit indicator by the quantity of these parts.
Entries and exits by Market-Limit/Stop-Limit orders
As you can guess Market-Limit orders used for entries at the best price. Whereas Stop-Limit orders are used for exits. This type of order is the essence of the same if limit-price is equal to stop-price for Stop-Limit order. Market-Limit NinjaTrader indicator displays both of them.
How to trade with Market-Limit NinjaTrader Indicator
You can use Market-Limit indicator
As a sentiment indicator. A cluster of big Market-Limit orders all in the same direction in a quite narrow range on day high/low against prior trend show big money sentiment
As positions covering indicator. A cluster of big Market-Limit orders all in the same direction in a quite narrow range on day high/low by prior trend direction show positions covering
As a distribution indicator. 3-5 orders or bigger cluster of Market-Limit orders in different directions in a range show process of distribution
Adjusting Market-Limit NinjaTrader Indicator
NOTE. The number and quantity of Market-Limit/Stop-Limit orders will be different for different tickers. Test and adjust this indicator on Market Replay first.