FlowAlgo Review

  • Value
  • Ease of Use
  • Quality
4.1

Summary

FlowAlgo is an options flow order scanner designed to help users monitor data and what institutional investors are doing. This platform includes a real-time options flow scanner, block trade monitoring, dark pool monitoring, historical order flow data, a chat feed, and more. Learn more about this options order flow scanner by reading our complete FlowAlgo review.

About FlowAlgo

FlowAlgo is an unusual options order flow scanner that helps you monitor what institutional investors are doing. The platform offers an actionable real-time options flow scanner, historical order flow data, and block trade and dark pool monitoring. FlowAlgo is pricey, but it offers useful several data filters that you won’t find elsewhere.

In our FlowAlgo review, we’ll help you decide if this options flow platform is right for you.

FlowAlgo Homepage

FlowAlgo Pricing Options

FlowAlgo costs $149 per month, $387 per quarter, or $1,188 per year. You can try out the software for two weeks for $37.

FlowAlgo Pricing

FlowAlgo Features

Real-time Order Flow

FlowAlgo’s real-time options order flow feed shows a list of tickers along with the total premiums paid and the contract details. The feed makes it easy to compare a contract’s strike price to the equity price at the time of execution and categorizes each trade as a multi-exchange sweep, an options block trade, or a single-exchange split.

FlowAlgo Real-Time Feed

What’s especially great about FlowAlgo’s order flow feed is that it uses visual cues to highlight the most unusual options activity. Options orders for contracts that expire within 35 days and are more than 7.5% out of the money are colored purple. Sweeps worth more than $1 million and that exceed a contract’s open interest are colored gold. You can also filter the flow feed for trades that meet these parameters.

FlowAlgo also tracks dark pool orders and equity block trades in real-time alongside the options order flow feed. You can see the quantity of shares traded, the price, and the total trade volume. 

Order Flow Snapshot

If you want to dig deeper into options flow by ticker, FlowAlgo’s Snapshot module displays a list of tickers by bullish and bearish flow. The lists are aggregated and sorted by total premiums, but you can quickly view the individual trades behind each ticker.

FlowAlgo Snapshot

A similar list of tickers sorted by dollar-volume is available based on block trades and dark pool trades.

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Historical Order Flow

FlowAlgo also offers historical options order flow data and dark pool order data going back several months. This data display mimics the real-time options flow and dark pool order displays, so you can easily pick out unusual out of the money options or enormous sweeps. You can choose a specific date range and ticker for your search, making this a useful research tool.

FlowAlgo Historical Flow

Levels

One of the most unique features of FlowAlgo is the Levels module. This tool looks at equity block trades and dark pool trades to identify potential support and resistance levels for individual tickers. The Levels feed displays the price level of individual block and dark pool trades as well as the total volume and trade value. By comparing to average volume, FlowAlgo also calculates a strength score from 0-100 for each trade.

FlowAlgo Levels

Typically, high-strength trades for large-cap stocks are worth billions of dollars and are enough to move the price of a stock. FlowAlgo points out several examples where the levels of these large dark pool trades coincide with lasting support and resistance levels. Monitoring the Levels feed (as well as the real-time dark pool order feed) can also help you identify the price levels at which institutional investors are stepping in heavily to buy or sell a stock.

Radar

FlowAlgo’s Radar feed offers another view of aggregated block and dark pool trades. In this feed, you can see the total value of trades on a daily basis for any ticker. The relative volume of trading each day is graded, and days on which trading volume was more than 25% above average are highlighted. 

FlowAlgo Radar

Data Export

FlowAlgo makes it easy to export any data from the platform to Excel. You can export either options flow or dark pool data, and the export tool enables you to select a date range and premium or volume cutoff. You can also filter data by ticker symbol or industry.

FlowAlgo Options Exporter

Trader Chat

FlowAlgo includes a chat feed that all traders on the platform can use. The chat isn’t searchable, and there is only a single channel. You can pause or mute the chat at any time.

FlowAlgo Chat

Customization and Layout

FlowAlgo is well-laid out and easy to navigate. Audio notifications alert you to new options activity, but you can also toggle these alerts off if you prefer. The biggest issue we had with the layout is that the real-time options flow feed is only available as part of the main dashboard, and there’s no way to make it full-screen. 

FlowAlgo Dashboard

FlowAlgo Platform Differentiators

FlowAlgo is one of many options order flow scanners, but it breaks out of the mold in a few important ways. First, the real-time options order flow feed is designed to be actionable. Options trades that are worthy of your attention are highlighted, and you can easily see which tickers are experiencing the most options trading activity on any given day.

Another thing that differentiates FlowAlgo from other scanners, like Option Samurai, is its use of equity block trades and dark pool order data. FlowAlgo’s Levels module puts this data to work to help you identify potential support and resistance levels and to clearly determine the price levels at which institutional investors are buying and selling.

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Our team has reviewed over 200 services. These are our favorites:
📈  Best Day Trading Service
Investors Underground
📊  Best Stock Scanner
Trade Ideas
📉 Best Stock Charts
TradingView
💰  Best Stock Picking Service
Motley Fool
📱  Best Mobile Broker
Webull
💻   Best Robo-Advisor
M1 Finance

It’s also noteworthy that FlowAlgo lets you export data to Excel. That makes it easy to use FlowAlgo’s data for your own custom analyses.

What Type of Trader is FlowAlgo Best For?

FlowAlgo is suitable for advanced traders who want to use options order flow or dark pool order data to track the activity of institutional investors. FlowAlgo’s data can help you identify when smart money expects an upcoming price movement. FlowAlgo is pricey compared to other options order flow scanners, but can be worthwhile if you can put the dark pool data to work to find support and resistance levels.

Pros

  • Real-time options order flow and dark pool order feeds
  • Highlights unusual options orders
  • Offers historical options order flow data
  • Identifies potential support and resistance levels based on dark pool trades
  • Supports data exports

Cons

  • Expensive
  • Limited options order flow scanning features