Bookmap vs Sierra Chart 2024: Which platform is worthwhile?

Factor 1: Trading Style

Bookmap

Bookmap is designed for traders who prioritize order flow and depth of market analysis. The platform offers a unique visualization of market liquidity, enabling traders to spot market patterns and imbalances. The platform’s heatmap chart displays historical and real-time bid and ask data, which can help traders identify support and resistance levels, absorption, and stop runs.

Bookmap is particularly suitable for day traders and scalpers who rely on short-term price movements and market depth to make trading decisions. In addition, the platform offers various add-on features and indicators to enhance order flow analysis further.

Sierra Chart

Sierra Chart is a powerful and customizable platform designed for traders who prefer technical analysis. The platform offers a comprehensive suite of charting tools and indicators that can be customized to suit individual trading styles. Sierra Chart supports advanced chart types like Renko, Kagi, and Point & Figure, which can be beneficial for traders focusing on price action.

Additionally, Sierra Chart offers back-testing and automated trading capabilities, making it a popular choice among algorithmic traders and those who develop their trading strategies. The platform’s custom studies and alerts can be programmed using Sierra Chart’s built-in scripting language, allowing users to create personalized trading tools.

Factor 2: Key Features

Bookmap

Bookmap’s unique selling point is its innovative visualization of market depth and order flow. The platform’s heatmap chart displays historical and real-time bid and ask data, providing a clear picture of market liquidity. This visualization can help traders identify patterns and market imbalances, offering potential trading opportunities.

In addition to the heatmap, Bookmap offers various add-on features and indicators, including volume profiles, iceberg orders, and large lot tracking. These tools can enhance a trader’s order flow analysis, providing additional insights into market behavior.

Sierra Chart

Sierra Chart boasts an extensive array of charting tools and indicators, making it a highly customizable platform for technical analysis. The platform supports advanced chart types, such as Renko, Kagi, and Point & Figure, which can be helpful for traders focusing on price action.

Furthermore, Sierra Chart offers back-testing and automated trading capabilities, appealing to algorithmic traders and those who develop their trading strategies. Custom studies and alerts can be programmed using Sierra Chart’s built-in scripting language, providing traders with the ability to create personalized trading tools.

Factor 3: Pricing and Plans

Bookmap

Bookmap offers three subscription plans: Free, Digital plus, Global and Global plus. The Digital Plus plan starts at $19 per month and includes the core features such as the heatmap visualization, customizable display, and one-click trading. The Global plan, priced at $49 per month, offers additional features like volume profiles, iceberg orders, and large lot tracking. The Global Plus, tailored for professional traders and institutions, provides custom data integrations and advanced analytics at a higher price point.

Sierra Chart

Sierra Chart offers a tiered pricing structure based on the features and data services you need. The basic package starts at $24 per month, including the core charting and analysis features. Additional packages with more advanced features, such as automated trading, market depth data, and historical data, are available at higher price points. Sierra Chart also offers discounted rates for longer-term subscriptions, making it a cost-effective option for traders committed to the platform.

Factor 4: External Customer Reviews & Ratings

External Bookmap Reviews & Ratings

Site	Rating
Trading Reviewers	5
Warrior Trading	4.7
Online Prop Trading	4.7
Trustpilot

External Sierra Chart Reviews & Ratings

Bookmap vs Sierra Chart: Our Summary

When comparing Bookmap and Sierra Chart, there are a few reasons why Bookmap may be the better choice for traders, particularly those who prioritize order flow and depth of market analysis.

Bookmap’s unique heatmap visualization offers a clear picture of market liquidity, enabling traders to identify patterns and market imbalances that may present trading opportunities. In addition, the platform’s add-on features and indicators, such as volume profiles and iceberg orders, can further enhance a trader’s order flow analysis.

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Sierra Chart, on the other hand, is a highly customizable platform designed for traders who prefer technical analysis. The platform’s extensive array of charting tools and indicators, along with its back-testing and automated trading capabilities, make it a popular choice among algorithmic traders and those who develop their trading strategies.

Ultimately, the choice between Bookmap and Sierra Chart will depend on your trading style and objectives. Bookmap is an excellent option for day traders and scalpers who rely on order flow and market depth analysis, while Sierra Chart is a powerful choice for traders focused on technical analysis and strategy development.