Most ATAS reviews rank it among the most complete volume analysis programs out there. If you're wondering what ATAS is, it's software that shows what a regular candle hides: how much volume traded at each price, and who pushed the move.
That's what traders call order flow: reading the actual buy and sell orders behind price, instead of only the shape of the candles. A candle tells you where price opened, closed and how far it traveled. Order flow tells you how it got there.
What ATAS shows you
- Footprint (cluster) charts: each candle is split into price levels, showing how much volume traded at each one, separated into aggressive buys and aggressive sells. There are hundreds of display variations.
- A heatmap of order book liquidity over time. The order book is the list of pending orders waiting to buy or sell at each price; the heatmap colors the levels where those orders pile up.
- Volume profile and delta, to see where interest built up and whether buyers or sellers were in control.
- Smart DOM and Smart Tape. The DOM (depth of market) is a live ladder of pending orders above and below price; the tape is the running list of trades as they happen. ATAS adds filters to both.
- Market Replay to review past sessions along with their volume data, plus a built-in journal and stats.
Which markets it works for
ATAS connects to more than 25 exchanges and platforms, including US and European futures markets, US stock exchanges and several crypto exchanges. The key point is that order flow needs centralized volume. In spot forex, each liquidity provider only sees its own slice of the market, so the footprint of a currency pair doesn't reflect the whole market. ATAS runs on Windows and macOS, with a web version in beta.
What to check before you pay
- Market data. The software doesn't include market data. Depending on the market, you'll pay for the data feed separately, so add that to the cost.
- The learning curve. Reading a footprint takes weeks of practice. Without a clear idea of what you're looking for, the screen is overwhelming.
- Your method. Order flow helps you fine-tune entries at zones you've already defined. It doesn't replace having a plan.
Before you fine-tune entries with order flow, make sure your strategy has an edge: practice it candle by candle.
See plansIs it worth it?
It's worth it if you trade a market with centralized volume, already have your zones of interest mapped out, and want to see what happens inside them. If you're just starting, validate your strategy on price first. That's the foundation order flow builds on, and our complete guide to backtesting walks you through it. To compare options, also look at Bookmap and Quantower.
Frequently asked questions
- What is ATAS?
- ATAS is volume and order flow analysis software. It shows how volume traded inside each candle (the footprint), where resting orders sat in the order book (the heatmap) and the delta, meaning the difference between aggressive buying and aggressive selling. It isn't a broker or an exchange: it plugs into the market data you subscribe to.
- Is ATAS free?
- There's a way to get started without paying, but the full feature set requires a license. Check their website for what the free option includes and the current price of each license.
- Does ATAS work for forex?
- Spot forex has no centralized volume, so order flow loses most of its meaning there. ATAS shines in markets with real exchange volume: futures, stocks and crypto.
Keep reading: Bookmap review: a heatmap of market liquidity · Quantower review: modular volume analysis · MZpack review: order flow for NinjaTrader 8
Educational content only; it is not financial advice or an investment recommendation. Trading financial markets involves the risk of losing money, and past performance does not guarantee future results: do your own research before subscribing to any tool. The brands mentioned belong to their respective owners, who do not sponsor or endorse this content.