Bookmap is the most widely recommended liquidity analysis software, especially for futures trading, because its depth of market heatmap lets you see where liquidity sits and how it moves. Sierra Chart and ATAS are also strong options, with one user calling ATAS the best all-around tool after trying multiple platforms.
For liquidity analysis, you want software that provides a depth of market heatmap and footprint charts. Bookmap specializes in heatmap visualization, while Sierra Chart offers highly customizable footprint charts through its Numbers Bars feature. ATAS combines both with a user-friendly interface and comprehensive order flow analysis.
These tools require Level 2 data to work, which can cost $150 to $500 per month if bought directly from a data provider. With a funded account through a trading provider, that cost can drop to under $50 per month.
Recommended Software
BookmapDepth of market heatmap visualization, widely recommended for futures trading
Sierra ChartHighly customizable footprint charts through Numbers Bars feature
ATASUser-friendly interface with comprehensive order flow analysis and footprint styles
QuantowerHas heatmap software built in
Recommended Software
Bookmap provides a heatmap visualization of the depth of market, which is crucial for understanding liquidity. "bookmap"
Sierra Chart is highly customizable for creating footprint charts that display executed trades at every price level, offering deep insights into buying and selling pressure. "Numbers Bars are arguably the most customizable footprint charts available."
ATAS is praised for its user-friendly interface and comprehensive order flow analysis, including various footprint styles and excellent visualization tools. "ATAS is the best all around theres no argument, I've tried them all"
Key Features for Liquidity Analysis
Depth of Market (DOM) Heatmap helps visualize available liquidity at different price levels. "What you are looking for is a depth of market heatmap."
Footprint Charts show bid/ask volume, delta, and imbalances, revealing how candles are formed and where liquidity is being taken. "A good footprint lets you understand how the candle formed rather than simply seeing the result."
Level 2 Data is essential for real-time liquidity analysis and is often purchased through trading providers or directly from exchanges. "ATAS and Quantower have heatmap software built in.You also need level 2 data."
Cost Considerations
Data fees for depth of market data can be expensive, ranging from $150-500 per month if purchased directly, but can be under $50 through a trading provider with a funded account. "Buying the data from a data provider (CME doesn’t sell it directly) will often be an expensive route ($150-500 per month.)"
Some platforms like DeepCharts are considered expensive, leading traders to seek more affordable alternatives for specific features like liquidity heatmaps. "Deepcharts is too expensive, and I do not use that many features."
Do you need software primarily for real-time futures trading liquidity analysis?
Bottom line
Bookmap is widely recommended for liquidity analysis, particularly for futures trading, due to its depth of market heatmap capabilities.
FAQ
What is the best software for liquidity heatmaps?
Bookmap is widely recommended for its depth of market heatmap visualization, particularly for futures trading. ATAS and Quantower also have heatmap software built in.
What features should liquidity analysis software have?
The key features are a depth of market heatmap to visualize liquidity at different price levels, and footprint charts to show bid/ask volume, delta, and imbalances. Level 2 data is essential for real-time analysis.
How much does depth of market data cost?
Depth of market data can cost $150 to $500 per month if purchased directly from a data provider. With a funded account through a trading provider, that cost can drop to under $50 per month.
Which software has the best footprint charts?
Sierra Chart is praised for having the most customizable footprint charts through its Numbers Bars feature. ATAS also offers comprehensive footprint styles with good visualization tools.
Is ATAS good for order flow analysis?
Yes, users praise ATAS as the best all-around tool for order flow analysis, citing its user-friendly interface, comprehensive features, and strong visualization tools.
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