With market by order via Rithmic you see not just the total per price level but every order on its own — in NinjaTrader 8, in the heatmap and in CORTEX DOM. You see who holds, who reloads and who pulls before price gets there.
Real capture from the app · ES · 27 Oct 2026. Two 800-lot single orders on the ask, both levels marked SPOOF … pulled.
Level 2 (market by price) sums every order at a price level into one number. Whether 893 lots are one large order or fifty small ones stays invisible — and that is exactly what matters when price arrives.
One total per price. Who is behind it stays open.
893 lots in 57 orders — including a single order of 800 lots. The front order sits right at the value cell and fills first.
| THE QUESTION AT THE PRICE | LEVEL 2 | MBO |
|---|---|---|
| How much sits here? | The total lots. | Lots • orders — the total and how many orders make it up. |
| One large order or many small ones? | Not visible. | Every order a block, length by lots, colour by size. |
| Is a large order being pulled? | The total drops — why stays open. | That very order disappears and is marked as a pull. |
| Is someone reloading (iceberg)? | Only a guess. | The same clip size is visibly refilled — with a counter. |
| In what order does it fill? | — | The queue per price: the front is what fills first. |
Level 2 stays the foundation — MBO lays the single orders on top. Without an MBO feed OrderFlowAi runs fully in Level 2 mode.
The single orders arrive once from Rithmic and look the same everywhere — same colours, same size classes.
Next to the candles, the order queue per price level: every single order its own block, with lots • orders at the price axis. Large orders carry their size as a number.
Levels with large single orders are drawn as a line through the history. If a large order disappears untraded, it reads SPOOF … pulled; reloads show as ICEBERG.
In the bid and ask columns CORTEX DOM draws the queue instead of the total — segment by segment. CORTEX also learns from the MBO data.
Ask red, bid blue — and the larger the single order, the louder the block. The thresholds can be changed in the settings (default 10 / 20 / 50 / 100 lots).
Six moments from the order book, captured with the app. The texts describe what is on the image. Tap to enlarge.
Real captures from the app · ES · 26/27 Oct 2026
With CQG, dxFeed or Rithmic without MBO data everything keeps running in Level 2 mode — heatmap, CORTEX DOM and CORTEX, just without single orders.
Ultra includes everything in Pro — plus MBO in NinjaTrader 8, in the heatmap and in CORTEX DOM.
MBO is included in the 14-day trial — connected via Rithmic, you see the single orders during the trial already. No credit card needed.
Subscribed before 28 Oct 2026? Your subscription continues as Ultra at your existing price for as long as it runs without interruption — MBO included.
MBO Indicator for NinjaTrader 8 only (no app) — €9.95/month or €299 lifetime (net). Choose MBO Indicator →
14 days free, MBO included — with a Rithmic connection.
No credit card · Windows · NinjaTrader 8