Free big trades indicator for NinjaTrader 8
Since 2009 CME prints every market order in pieces: a 100-lot buy shows up as 1, 8, 2, 22… That is why a plain "large trade" filter hardly ever fires. This indicator joins the pieces of each order (same exchange instant, same side, price moving forward) and draws the big ones as bubbles.
The usual complaint about paid big trade tools is that "after restarting Ninja, bubbles show up that never appeared live". Here history and live data go through the same rule, which only uses exchange time: reloading the chart gives the same bubbles. And it always tells you where the data comes from.
- 100% free
- Open source (MIT)
- Built by El Trader Financiado for the community
Version 1.1 · NinjaTrader 8 · .zip to import · also in the pack of all 11 · updated October 22, 2026
Install one language only: if you switch between English and Spanish, delete the ElTraderFinanciado folder first (Documents\NinjaTrader 8\bin\Custom\Indicators).
What the indicator draws
- Buy and sell bubbles with area proportional to volume and the number inside.
- A line with the sweep range when the order goes through several prices.
- Three levels: threshold, 2× and 4× (gold border), and gray for doubtful-side orders such as the opening auction.
- A label with the data source (real bid/ask, tick rule or Tick Replay), the threshold of the segment on screen and why, the other segments' thresholds and the session count.
- Hover details: contracts, trades, prices, Chicago time and how the side was worked out.
- Alerts when each order closes (live only), CSV export and series for strategies.
What a big trade is (and what it is not)
A big trade is a large market order: someone crossing the spread with many contracts at once. On the CME tape it does not arrive whole but split into one print per resting limit order it hits, all with the same millisecond and price moving forward.
What each screenshot shows
- 01
One bubble per order, not per print
Each bubble is one rebuilt aggressive order: blue for buys, magenta for sells. The area grows with how far it exceeds the threshold and the number is the volume; orders of 2× and 4× the threshold get more opacity or a gold border.
- 02
A threshold that adapts to the market and the time of day
Since 1.1, the automatic threshold is computed for each segment of the day (Asia, Europe, the product's regular session and the rest) from the previous 5 sessions, so each one shows about 10 bubbles per hour (Normal density). On NQ the regular session ends up around 58 contracts and Asia around 23; on MES, around 133 and 41. It is set when the session starts and does not change after a reload.
- 03
With cumulative delta
Big Trades and Cumulative Delta share the tick engine. Put them together to see whether large orders push price or get absorbed by the other side.
How to trade big trades
The most common uses. Everything is set in the indicator properties.
Big trades at the candle extremes
A big sell at the high that fails to push price down, or a big buy at the low, tells you who is absorbing.
Confirming a breakout
A breakout with several large orders behind it has more fuel than one without.
What the evidence says
A big trade describes who hit the market and how much; it is not a signal. With millisecond resolution and no aggressor ID, several same-side orders in the same instant count as one. We know of no public studies showing that following these bubbles gives an edge on its own.
Key settings
| Setting | Default | What it does |
|---|---|---|
| Grouping | RebuiltOrder | Joins the pieces of each order. Also same price and window (MotiveWave style) or individual prints. |
| Threshold type | Automatic | Automatic per product and per segment of the day (Asia, Europe, regular session and the rest), fixed, or a percentile of previous sessions for the whole session. |
| Density (automatic) | Normal | Few (about 5 bubbles per hour), Normal (10) or Many (25) in each segment. "Bubbles per hour" fine-tunes it with a number. |
| Minimum size (contracts) | 0 (automatic) | Type a number to fix the threshold all day: lower shows more bubbles, higher only the big ones. |
| Tick sessions to load | 5 | Days with bubbles. More sessions = slower load. |
| Level 2 and level 3 (× the threshold) | 2 and 4 | The largest ones, more opaque and with a gold border. |
| Alerts on | No | Alert when a large order closes live. |
| Export orders to CSV | No | To audit them or compare with another platform. |
How to install ETFBigTrades in NinjaTrader 8
- 1
Download the .zip and don't unzip it.
- 2
In NinjaTrader 8, from the Control Center: Tools → Import → NinjaScript Add-On… and pick the .zip.
- 3
Accept and wait for it to compile. If you had an earlier version, allow it to overwrite.
- 4
Indicators: on the chart, right-click → Indicators… → ElTraderFinanciado folder. Risk-Reward: right-click → Drawing Tools. Risk Guardian: Control Center → New.
Frequently asked questions
Do I need Order Flow+, Level 2 or Tick Replay?
No. It loads a 1-tick series with the bid/ask of each trade (works with the free license) and live it uses each trade with its bid/ask. If you turn on Tick Replay on the chart, it uses that too.
Why are there no bubbles on older days?
There are only orders to rebuild where there are ticks. By default it loads the last 5 sessions; raise "Tick sessions to load" (loading takes longer).
Does it mark the same live and after a reload?
Yes, if the provider sends the same ticks: grouping only uses exchange time, side and price, never the PC clock. The NinjaTrader Output window shows a count and a fingerprint per session so you can check.
Why did MES, Asia or Europe show so few bubbles?
In 1.0 the threshold was a fixed size for the whole day. Measured with the June-October 2026 ticks: MES (250 contracts) showed about 18 bubbles per session versus 268 on NQ, and Asia and Europe showed almost none on any product (0-5 per hour versus 20-30 in the regular session). Since 1.1 the automatic threshold is computed for each segment from the product's own previous sessions, and with Normal density each one shows about 10 per hour, also on MES, crude oil and gold (Few, about 5; Many, about 25).
Does the threshold change during the day or after a reload?
It changes from one segment to the next (Asia, Europe, regular session and the rest), but all four are set when each session starts, from the previous sessions: reloading the chart the same day or going from history to live does not change them. The label at the bottom shows the threshold of the segment on screen and where it comes from.
What are the gray bubbles?
Orders whose side can't be read from bid/ask (for example the opening auction, with bid = ask) and that don't sweep several prices. You can hide them.
Trying it in a futures prop firm?
We have discount codes for the main evaluations. They are affiliate links: we earn a commission if you buy through them.
More free indicators
Cumulative Delta
FreeCVD from real bid/ask as candles, line or histogram, session resets, divergences and a label saying where the data comes from.
Volume Profile
FreeSession volume profile with POC, value area, naked POCs, HVN/LVN nodes and fixed ranges.
The indicators describe what price has done; they don't predict what it will do and they are not investment advice. The risk management tools are an aid: they don't replace your firm's rules or your broker's limits. Only trade futures with money you can afford to lose.
