OFA "Add-On"

[Omegaknight]

Anyone have any experience with the OFA Software that is being sold as an add-on to MW? I'm having a hard time figuring out what exactly is the benefit to that when MW has built in Volume Imprint studies already. Is there something I am missing that makes this better than the default capabilities from MW?

Also, if it makes a difference, my point of view is coming from someone using the ultimate edition, so I have all the capabilities of MW unlocked.

Thanks.

 

[igor.s]

I didn’t find it useful for my trading style, but you can sign up for a 14 day trial and see it for yourself.

 

[abctrading]

I have and use OFA and like quite a few of the features that it has, such as the drag and drop profiles and how you can toggle between Structure and Footprint candles. I also like how you can adjust the VWAP and POC and VA and Cluster Areas within each bar. I also like the CWAP feature. The AlgoX is pretty slick as well for trade management and automatically adjusting Lot size to fit your Risk or Stop size. I think perhaps the only drawback is that is seems OFA is steering more towards Ninja as far as any new Order Flow features ... I am hoping that I am wrong on that assumption and that they are just working out the bugs before they code into MW??

 

[MotiveWave_Leigh]

@Omegaknight While there is some basic overlap in the MotiveWave Volume and Order Flow tools and the OFA Add-On Modules, there are still a lot of separate proprietary customized tools in the OFA Modules. When you buy the Add-On OFA Modules through OrderFlowAnalysis.com, you are not only getting the tools, but also their training on how to use and apply their custom tools and setups.

@abctrading OFA has been focused on getting their Modules for Ninja updated. We've talked to DB about his plans for updating the MotiveWave OFA Add-On Modules, and so far the plan is to start updating them once the updates to the Ninja Modules are completed.

 

[abctrading]

@MotiveWave_Leigh - YES! I totally forgot to mention the training that comes with the OFA Modules .. .some great stuff there .... and the rabbit hole can get even deeper for a small price. You really could spend a few weeks of just watching the training videos there are so many

And great news about the continuation of OFA modules here on MW ... better they work out the kinks over there then over here eh!??! ....

@Omegaknight - I can tell you from 1st hand experience that the customer service aspect of both DB and his team at OFA and the folks here at MW have been fantastic! They communicate and work great together, which is so rare these days. They all do what they say they are gonna do! So refreshing!

It was a tough swallow at first for me to shell out the extra $$ for both the Ultimate Edition and then the OFA module ..... looking back ..... it has been worth every single penny!! Thanks MW and OFA!!


Brian

 

[Omegaknight]

Thanks for the input @MotiveWave_Leigh and @abctrading. I think I will talk to them and see about getting a trial and checking it out and giving it a thorough run through.

 

[abctrading]

@Omegaknight - if you have any questions on any of it .... feel free to DM me, and I can possibly help out or steer you in the right direction

 

[sragone]

I use OFA as well, and I found that the greatest feature inside of OFA is the AlgoX trade manager. It fits my money management style exactly the way I want.

I have discovered that when you display the print from the Volume Imprint and the OFA Print, the numbers match exactly as they should, but I happen to like the OFA print as IMHO it appears a bit "cleaner" especially when used with the Probe and Rotation bars. However, I do happen to like the Volume Imprint totals section that is inside of MotiveWave, which is why I put in a feature request a couple of months ago to allow the display of the Volume Imprint totals section without the MotiveWave print, so that OFA print features and the MotiveWave Volume Imprint totals could be used together.

Anyway, I think OFA is a great add-on to MotiveWave and I've actually been able to make money with it. I'm definitely looking forward to further OFA updates for MotiveWave in the future.

 

[abctrading]

@sragone - Somehow I missed your post here .... yes I agree with you. I really like how MW and OFA work together. I found that if you adjust the "Align >> Start of Bar" under the General Tab, those totals will start to align with the OFA bars.

Have you tried also using the "Profile" feature as well? I think it is pretty slick and really helps me see the distribution as well as get a better idea of what all the number are trying to tell me.

Here is a pic of CL with a OFA 20/3 bar using the profile on both the Structure and Footprint.

2019-10-17_1627

Shared from Screencast.com

www.screencast.com

 

[rctrader]

I use OFA as well, and I found that the greatest feature inside of OFA is the AlgoX trade manager. It fits my money management style exactly the way I want.

I have discovered that when you display the print from the Volume Imprint and the OFA Print, the numbers match exactly as they should, but I happen to like the OFA print as IMHO it appears a bit "cleaner" especially when used with the Probe and Rotation bars. However, I do happen to like the Volume Imprint totals section that is inside of MotiveWave, which is why I put in a feature request a couple of months ago to allow the display of the Volume Imprint totals section without the MotiveWave print, so that OFA print features and the MotiveWave Volume Imprint totals could be used together.

Anyway, I think OFA is a great add-on to MotiveWave and I've actually been able to make money with it. I'm definitely looking forward to further OFA updates for MotiveWave in the future.

I completely agree. Great Software add-on.

 

[Blonde]

@Omegaknight While there is some basic overlap in the MotiveWave Volume and Order Flow tools and the OFA Add-On Modules, there are still a lot of separate proprietary customized tools in the OFA Modules. When you buy the Add-On OFA Modules through OrderFlowAnalysis.com, you are not only getting the tools, but also their training on how to use and apply their custom tools and setups.

@abctrading OFA has been focused on getting their Modules for Ninja updated. We've talked to DB about his plans for updating the MotiveWave OFA Add-On Modules, and so far the plan is to start updating them once the updates to the Ninja Modules are completed.

Dear Mrs @MotiveWave_Leigh



Does the OFA add-on Modules when updated for Motivewave Ultimate, does it cost an extra fee to receive the updates on OFA Add on Modules to reach the same level OFA Add-on Modules exist in their version of OFA in Ninjatrader 8 x64? e.g. Modules on the Motivewave side is lacking many features while OFA Add on is the same price for Ninjatrader 8 x64 and Motivewave Ultimate. Thus we paid the same amount for the exact same features that Ninjatrader 8 x64 users paid, while the OFA+AlgoX+AdvancedProfileAddOn cost us 1,744USD in total, the Ninjatrade 8 x64 users get extra Modules for the exact same price we paid, thus when the Motivewave version of OFA add-on updates to reach us to the same Modules in Ninjatrader 8 x64, will Motivewave users shall pay extra to get the same Modules when updates come out for OFA+AlgoX+AdvancedProfileAddOn for Motivewave or will these Modules updates will be free as we prepaid for this Modules upfront in the bill?

I believe this is Motivewave company's issue as well, as if you don't pressure the OFA developers to distribute evenly the Modules for the same price, this will shift users to purchase Ninjatrade 8 that have advanced Modules add on for the same price as Motivewave Ultimate add on Modules unless your company pressurize the OFA developers and company to provide the exact features for both Motivewave Ultimate and Ninjatrade 8 x64 at the same time for the same price?

Also, I see your statement is posted on 'Jul 25, 2019' but this gap between Ninjatrader 8 OFA add Modules and Motivewave Ultimate add on Modules still of today 23rd of July 2021 exist, while we paid the same exact price for this OFA add on Modules.
?


Thanks in advance
Best regards