Bookmap is an innovative trading platform created to assist day traders with visualizing market data and uncovering hidden price patterns. The platform includes heatmap visualization, volume dots, and various tools that simplify spotting potential trading opportunities.
Bookmap offers two pricing tiers – Digital Free Package and Global Package – providing real-time cryptocurrency exchange market data, delayed equity and futures market data, and chart trading with one-click trading capabilities.
Micro Clues
Bookmap is a market data visualization tool that visualizes an asset’s order flow. Traders can use Bookmap to identify micro clues that help inform their trading decisions. In addition, this platform offers free daily training sessions designed to teach users how to utilize and develop their trading strategies using this tool.
Bookmap stands out from other tick order flow tools by offering an interactive 3D chart of an asset’s depth and price stream and horizontal bars in various colors to indicate which orders were filled over its history.
Clicking an individual bubble allows traders to gain more details about a transaction, including time of fill and size of the order, spread size (which plays an essential part in measuring an asset’s liquidity), best ask and bid prices, and much more. In addition, the platform displays a list of best ask/bid prices directly beneath its price chart.
Bookmap offers another advantage to traders in that it shows the number of buy and sell orders stacked above and below a given price, helping to identify oversupply and demand in the market. For instance, an abundance of buy orders can indicate a potential support level, while low sell orders might signal resistance.
Real-time trading requires zooming into and out of Bookmaps action at the proper angle/distance. Otherwise, traders won’t receive enough relevant information, such as which bubbles were aggressive versus not and at which points there were more transactions on ask than bid.
Micro Rotations
When large orders are positioned in the book, and there is a sudden rotation (such as aggressive transactions into a bid with followthrough on ask), Bookmap usually shows it first as an early indication. Traders can use this data to anticipate when support or resistance levels might be challenged, as seen below with ticker NVDA.
Bookmap is an unconventional approach to visualizing market liquidity that takes an altogether unique approach than order flow charts do. Instead of providing tick-by-tick charts, this HD movie shows gigabytes of non-aggregated market data (trades and depth). This information reveals auctions across asset price levels. It is tailored specifically for human visual perception allowing traders to quickly process large volumes of data to identify key market participants and their dominant strategies.
Understand that trading with market information like Bookmap does not involve finding specific entry points; rather, it entails identifying which side has control and where liquidity has accumulated. Therefore, it may be more effective to utilize Bookmap as a behavioral tool to increase your entries and risk management capabilities.
Gaining maximum value out of order flow analysis requires knowledge of how to interpret this data and having a solid macro chart setup. Furthermore, patience must also be employed in only looking at clean cases where order flow data offers real benefits (which in the crypto markets is usually quite rare unless there are intense washes). Still, Bookmap or similar order flow tools can give an extra micro edge and help create more precise entries.
Micro Break-Ups
Bookmap, like other order flow tools, only gives traders micro clues. It’s ultimately up to each trader to understand the context and decide what’s relevant. For instance, it would be unwise for traders to interpret every red-colored order displayed on Bookmap as strong offers above or below their current market positions; they should first compare with average traded liquidity per minute to see whether such moves could significantly alter price behavior or not.
Monitoring large orders in the market is another effective micro hint; for instance, if a large trade takes place and several smaller transactions follow closely behind, raising or stacking bids at the b/o flipped level push-up or stack bids, this may provide a helpful indication as to whether or not crucial breakout levels will be tested successfully (when used together with solid macro chart setup).
Bookmap can be invaluable when assets experience sudden spikes in volatility/moves as its dynamic order flow display and color adjustment help quickly spot more prominent anomalies in the book that would be hard for traders to sprinkle on their basic Level 2 window or trading platform dxFeed Level 2 window.
Bookmap’s primary use case is to detect large orders positioned above or below ask or bid at specific round numbers on various assets, which might otherwise be difficult to spot with just Level 2. When an asset has low liquidity but high volatility, trading window spreads may vary significantly, providing traders with opportunities for micro clues to detect valid orders above ask or below bid.
Micro Rejections
Bookmap or other order flow tools can offer two of the most valuable insights: micro rotations and potential price rejection levels. Care must be taken when reading information such as this; understanding the situation fully will enable one to extract maximum benefit from it. Bookmaps bubbles offer an intuitive tool for zooming in/out at just the right angle and distance. To see individual transactions clearly without losing perspective of more significant trends or context. The goal should be achieved without blurring your vision with too close an examination of individual transactions or too distant an understanding of context. One micro routine I employ is to review 30-50 bubbles using software and compare these with 1-minute candle charts; this accurately represents asset liquidity value and puts any orders displayed on the Bookmap ladder into context.
At levels where large buy/sell transactions take place, microtransactions quickly following in that direction may not occur quickly enough, and prices can often get rejected at that point. Furthermore, a healthy breach of critical supply or demand levels requires large bid stacks ready to push higher or defend against any sudden move by providing adequate bidding power or offering protection.
Bookmap displays only timestamps based on when it receives data and order updates on its client-side system rather than showing actual exchange timestamps, which could give traders a false sense of how quickly they were able to respond, especially given packet loss or short-term disconnections that may occur.
Micro Support/Resistance
Bookmap helps traders spot order flow micro clues that help identify potential trouble spots with ease, including “a soaking activity or large persistent absorptions”, where traders commit to buy/sell specific zones without enough liquidity being made available due to hidden buyers/sellers without meeting their limits. Bookmap’s visualization tools make this activity very visible; traders need to train their eyes on seeing it and understanding that once tested by the price, they could act as support/resistance zones.
Bookmap provides numerous tools for analyzing the market, but one of its most powerful features is its ability to record and replay market data at various speeds. This enables you to study multiple angles simultaneously while testing strategies side-by-side; additionally, its replay feature also helps detect micro patterns which could otherwise go unseen using Level 2 windows or order flow tools alone.
One helpful aspect of the platform is its instant display of market-depth information with different colors. This helps you quickly comprehend how market/asset liquidity conditions change millisecond by millisecond, impacting order books. This feature can especially prove helpful to beginners who may struggle to adapt their view of the market to new circumstances.
Overall, Bookmap is an indispensable tool for traders seeking a deeper understanding of market depth, microstructure, and dominant market participants. Additionally, Bookmap serves as an ideal learning platform for beginners and can be combined with other tools to help meet trading goals more quickly. You can begin your Bookmap experience with its free Digital plan or an upgraded paid version with features such as an Iceberg Tracker or a more extensive lot tracker.
