What is this term called Orderflow? and how does knowing it help my trading?
Orderflow simply means reading the demand and supply side of the market.
Because it is read live and based on current actual traded volumes of the market, we have what are called Orderflow charts.
Orderflow replicates the transactions taking at the exchange on your chart and can show you real time the actual demand and supply at the exchange.
A live reading of an Orderflow chart is the best way to understand the market activity or read the “Now” . This has to be contrasted against charting techniques which show what has happened in the past.
The order-flow is the present- the developing present. It is the “now”
The video below should explain more.