The quality of analysis you carry out can make or break your growth as a trader. Talking about quality, it all boils down to the kind of tool(s) you use and how you use them. This is especially true for those who prefer to use order flow analysis – a revolutionary market analysis technique that involves the use of in-depth data that goes beyond what conventional technical analysis has to offer.
Footprint charts (or simply FP charts), are perhaps one of the most powerful tools you can turn to if order flow analysis is your preferred approach to trading. Known for their ability to tap into in-depth market data along with the ability to bring historical market orders into the picture, FP charts are a must-have for every trader.
We take a look at some of the best footprint chart software, what they have to offer, and above all, some of the key factors to consider when picking one.
Bookmap
Bookmap is an advanced trading platform that provides real-time market data visualization and heatmap functionality to help traders understand market liquidity and order flow dynamics.
Motivewave
MotiveWave is a trading platform designed for professional traders and analysts, offering advanced charting, analysis, and trading tools to enhance market strategies and decision-making.
ATAS
ATAS (Advanced Trading Analytical Software) is a powerful trading platform designed for order flow analysis and volume trading, offering detailed market data visualization.
Jigsaw Trading
Jigsaw Trading offers an intuitive trading platform focused on order flow analysis, providing traders with tools to read market depth and execute strategy-driven trades effectively.
QuanTower
Quantower is a feature-rich multi-asset trading platform that integrates a variety of trading tools, data feeds, and broker connections to enhance traders' market analysis and execution.
Top 5 Best Footprint Chart Software in 2024
Let’s cut straight to the chase. Here are the five leading footprint chart software based on our latest research.
1. Bookmap
Bookmap is a highly powerful market analysis tool that is known for its ability to capture real-time data and help you take full control of your decision-making.
This system comes with pretty much all the bells and whistles you would expect out of a topnotch order flow analysis system namely heatmap, volume profile, DOM, and above all Footprint charts.
Talking about footprint charts, Bookmap comes with FP charts that offer incredible insights into price distribution and trading activity over a period of time. As a swing trader, you can utilize these charts to easily spot support/resistance levels as well as areas of price discovery.
If anything, Bookmap comes with a built-in ability to provide historical depth data along with iceberg detection. Historical depth data is crucial for understanding recurring patterns while iceberg detection helps in the identification of large orders – which can be crucial for anyone on the lookout for support and resistance zones.
2. Motivewave
Motivewave is one of the most trusted charting services available out there currently. It comes with a really good user interface along with deep technical analysis combined with order flow analysis abilities.
This platform excels at providing a wide variety of customization options along with a decent set of features. These include some of the most advanced footprint charting tools we have come across so far.
The MotiveWave footprint charts provide you with a dynamic way to look at volume and how it influences price. By using historical tick data, it segments the market into different price intervals, dividing the volume into ask volume and bid volume. A summary profile is (optionally) then displayed to summarize the market – and this summary is displayed in a ladder-like fashion on the extreme right side of the screen.
Another perk of this FP chart software is that it provides real-time data for all markets – ranging from forex to crypto and stocks. The system also comes built ready to be integrated with most popular trading platforms.
3. ATAS
If you are looking for a professional trading and analytical platform that specializes in order flow analysis ATAS is certainly worth considering. This system comes with pretty much all the tools you need to make fast and accurate market evaluations based on factors like Depth of Market (DOM) and Level II data.
Priced at €39.92 per month and with a 14-day free trial period, ATAS comes all set with the footprint chart functionality you need to get an in-depth look at the market.
What’s more, the platform provides unlimited access to real-time market data which is crucial for making key trading decisions. The beauty about enjoying access to real-time data is that it enables you to monitor different buyer and seller trades as and when they happen – and this literally gives you a front-row seat upon which to analyze the markets.
Last but not least, ATAS comes fully loaded with a fast-loading, highly intuitive user interface making it a good choice for beginner and experienced traders alike.
4. Jigsaw Trading
Since 2011, Jigsaw Trading has been known to offer bespoke solutions for futures and stocks. This has seen them build a powerful customer base of more than 3,500 users drawn from across the globe – effectively establishing itself as an industry leader.
This platform is known for its revolutionary application of order flow analysis, dynamic price models, and educational resources among others. Overall, Jigsaw Trading offers a powerful toolkit complete with all the nifty trading tools you would expect from a system designed for savvy traders.
On the flipside, though, Jigsaw Trading comes with a stiff learning curve which some first-time users may find a bit overwhelming. Even then, there is no denying that the software offers a pack of alluring features catering to the needs of newbie traders and experienced ones as well.
Last but not least, the Jigsaw toolkit comprises a wide variety of indicators encompassing the strategies employed by different kinds of traders.
The most basic version of Jigsaw Trading goes for $879, a price most budget-limited beginners might find prohibitive.
5. Quantower
Established in 2017, Quantower prides itself on having a highly advanced system that offers all the tools you need to get stuff done. Built for stock, options, futures, crypto, and forex, the platform stands tall as a favorite choice for traders craving flexibility.
The footprint chart on Quantower (also known as cluster chart) comes with all the features you need to evaluate things like trading volume, zones of high trading interest, zones of maximum volume accumulation and so forth.
What’s more, Quantower provides you with good access to real-time data along with market insights ensuring you never miss out on any fresh opportunities beckoning on the market.
Overall, this software is highly user-friendly and, therefore, friendly to users of all levels. What's more, the user interface is intuitive and responsive making it a good bet for beginners and experienced traders alike.
Lastly, the platform promotes itself as a reliable trading terminal design to allow for brokerage integration enabling one to access multiple asset classes while still getting to tap into the power of high-quality charting. That said, it is important to keep in mind that Quantower on its own is not a brokerage firm – therefore, those who opt to use it should take time to ensure it is compatible with their broker (if they want to take full advantage of its built-in features that is).
What Are the Factors to Consider When Choosing FP Chart Software?
- Market Analysis Prowess: You should only go for software that comes with advanced capabilities to analyze the markets on the basis of price levels, trades, and even volumes. What’s more, the software should be capable of capturing different market data in detail.
- User-Friendliness: The last thing you want is to deal with a clumsy system that’s both difficult to learn and complicated to use. Settling for a software system with an easy-to-use and responsive interface can make it easier to carry out market analysis whether one is a novice or experienced trader.
- Real-Time Data Feed: Real-time data is important especially when you have got to gauge the immediate sentiment in the market. It also comes in handy when you have to make forecasting more reliable. Access to this data also makes it easier to make quick decisions.
- Customization Options: Everyone has a unique trading strategy and as such it pays to invest in a tool that gives you the leeway to create a custom user experience.
- Overall Support: Whether this comes in the form of good customer support, the provision of handy educational materials or both, good support is crucial in ensuring you’re able to maximize the software program’s benefits.
Frequently Asked Questions
Why should you consider investing in footprint chart software?
Footprint chart software allows you to track the actual volume traded at different price levels. It also makes it easy to identify buying and selling pressure so you can make informed trading decisions based on volume analysis and order flow.
Is there free FP chart software available?
Some platforms such as ATAS do offer free trials of their footprint chart software. However, in most cases, a paid subscription is required to access the core features of this kind of software.
Is it possible to use FP chart software on mobile?
Some software providers do offer mobile-compatible versions or apps; however, the functionality might be limited unlike what you’d get with the desktop versions.
Conclusion
There you have it – a comprehensive look at some of the best footprint chart software available on the market. As it turns out, good programs come in all shapes and sizes. Some are easy to use while others require a bit of learning to get used to.
There are also a few that are costly while others cost a few pennies on the dollar. Whichever way you look at them, footprint charts can come in handy in helping you master your order flow trading strategy.
