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Bookmap Review – A Unique Approach to Stock Analysis

Item: Bookmap
Rating: 4
Author: Dave

By Dave

Last Updated May 4, 2023

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Bookmap Review

Features
Value

Summary

Bookmap is essentially a platform that gives the trader an x-ray into the stock market. Many traders are buzzing about Bookmap and its market data analysis and research. So, is Bookmap what you have been waiting for? Read to discover.

Introduction to Bookmap

Bookmap is a market data analysis and research platform that offers a unique perspective on real-time price action. It gives you the trading equivalent of an x-ray of the stock market, using price and volume data to help you predict a stock’s next move. Bookmap was created by high frequency traders, and it’s a powerful platform for anyone looking to emulate this style of trading.

Bookmap is very unique way of looking at market data, and it might just reveal the hidden price patterns you’ve been looking for. Keep reading our Bookmap review to find out how this software works and whether it’s right for you.

📈 Features	Heatmaps, volume dots, custom indicators
💰 Pricing	$16-$99/month
⭐ Discounts	20% off annual plans, lifetime plans available
✅ Best For	Active traders

Bookmap Pricing Options

Bookmap offers four packages:

The Digital Free Package is free with registration and provides access to Bookmap’s unique heatmaps. You get real-time market data for cryptocurrencies from major exchanges like GDAX, BitMEX, Bitfinex, OKCoin, and OKX. You can get delayed market data for stocks and futures.

The Digital Plus Package costs $19 per month and adds several indicators to the trading platform, including VWAP, point of control, and cross best bid and offer. It also offers one-click trading for cryptocurrencies.

The Global Package costs $49 per month and includes real-time data for futures and stocks. Full market depth data from EDGX starts at $59 per month. This plan is also compatible with all of the additional market data providers that Bookmap supports, including

The Global Plus Package costs $99 per month and includes one-click trading for stocks and futures, plus proprietary tools like the large lot tracker, imbalance indicator, and Depth of Market Pro.

Annual plans are discounted 20%. You can also purchase a lifetime subscription to the Global plan for $990 and to the Global Plus plan for $1,990.

EXCLUSIVE: Save 50% on Your Bookmap Subscription!
CHECK OUT THE DEALS

Bookmap Features Breakdown

Here are some of the notable features and indicators on this trading platform.

Charts

Bookmap enables various types of charts including candlestick, bar, and line. The timeframes can be scaled from days down to milliseconds, and you can even zoom in to data at the nanosecond scale. You can also view order flow data and trading volume on the charts. At first glance, this appears overwhelming. It really helps to start with a basic candlestick chart and then add one indicator at a time to understand how they each work. Once you’re comfortable with Bookmap, you can stack your charts with multiple indicators.

Technical Indicators

The indicators on Bookmap are designed to help you interpret market liquidity data, such as order book entries and order flow. There’s relatively little focus on traditional stock trading indicators like Bollinger Bands or RSI. Bookmap

Bookmap’s indicators include proprietary heatmaps, bid/ask volume bubbles, and spread lines. Global Package Plus subscribers get additional indicators such as large lot tracker, icebergs, and imbalance. These indicators are at the center of Bookmap’s functionality, so we’ll take a closer look at how they work.

Heatmaps

Bookmap’s heatmaps indicate the degree of liquidity at different price levels for an asset. The darker the shade of the heatmap, the greater the liquidity. Since liquidity is dynamic, the shade of the heatmap will lighten up as a price level clears and vice versa.

This enables users to watch how liquidity lives and breathes with the price action. Users can configure to show just buy or sell orders on the heatmap. Intraday traders can use the heatmaps to identify potential levels of support and resistance that may not be clear on a chart or a standard level 2 screen.

Volume Bubbles

Bookmap’s volume bubbles take the idea of volume bars to the next level. They illustrate the magnitude of buying volume at the inside ask or selling volume at the inside bid for each chart interval. It’s easy to see when buyers overwhelm sellers because a large green volume bubble will accompany the candle. You can zoom in to the bubble to see the actual buy and sell trades along with the progression of the bubble as the trading action happens within the candle.

Bookmap Premium Features

The large lot tracker (LLT) enables you to spot the largest limit orders hidden with an order book. Icebergs are orders that only transmit a fraction of the actual trade order. The LLT highlights spoofing, sweeps, and specific trading algorithm patterns like the Ignition. This is commonly used by high-frequency trading programs to spike or drop a stock to suck in other algos and traders. Like starting an engine, the Ignition strategy also stirs up price volatility with a combination of sweep sand spoofs.

Bookmap also offers a market data visualization for the limit order book (LOB), centralized limit order book (CLOB), depth of market (DOM) data, and EDGX data. The visual display of these indicators is refined to give traders the equivalent of an x-ray view of ongoing price action.

Market Replay

With all the pieces of data available in Bookmap, it can be hard to analyze more than a single instrument in real-time. Bookmap offers a Market Replay mode so you can record and playback the action. This is most helpful for quants and algorithm developers who want to create, back-test, authenticate, and validate their models.

API

Bookmap provides an API to integrate with proprietary, high-low latency, and/or algorithmic trading strategies. Experienced traders and programmers can automate execution and trade management triggers.

Compatible Brokers

Bookmap can be connected to various brokers to enable trading directly off the platform. It also provides a simulator that users can make demo trades on to improve the utilization of the data. Some of the available brokers include TradeStation, Interactive Brokers, and Rithmic.

Platform Differentiators

Bookmap is a very unique platform focused on visualizing order flow data and market liquidity. We haven’t seen a platform quite like this, and many of the indicators that Bookmap offers are proprietary. We especially like the heatmap and volume bubbles, which make it surprisingly intuitive to identify key price levels where trading activity might pick up.

Bookmap’s ability to analyze market data at millisecond timescales is also unique. Not many charting platforms support such short timescales, but they’re important for high-frequency traders and algorithmic trading. Bookmap doesn’t incorporate traditional technical analysis in its charts, so you’ll likely need to pair it with a powerful charting platform like Thinkorswim or TradingView.

Is Bookmap a Good Value?

Bookmap is an excellent value for traders who need a way to analyze market trends at the millisecond level. There are very few platforms that can do what Bookmap does, and even fewer that provide such outstanding visualizations of Level 2 market data.

There’s definitely a learning curve involved when you first get started with Bookmap. Many of the indicators are proprietary, so you need to take time to understand what they mean and how to use them. The free Digital plan is a great way to try out the heatmaps before signing up for a paid plan.

What Type of Trader Bookmap Is Best For

Bookmap is best suited for day traders and quants looking for tons of market data to create, backtest and refine trading models. Intra-day scalpers will also find the real-time data useful, especially if they want to spot spoofing activity that can artificially inflate or deflate prices. The platform provides a wealth of information that will benefit technical traders who know how to properly analyze order flow and price trends.

Be ready to spend some time learning how to use Bookmap. Bookmap isn’t just a market scanner or a custom indicator. The platform offers an entirely new way to analyze the markets, and it takes time to figure out the best ways to incorporate the indicators it offers into your trading routine.