Unfinished Auction Indicator: Master Order Flow for Futures Trading Success

Introduction to Unfinished Auction

The Unfinished Auction indicator spots incomplete price auctions at bar highs or lows, so you can see potential reversals or continuations in futures contracts. It highlights areas where both buying and selling volumes stay active at extremes, which gives you an edge in understanding market imbalances. As part of Tikitrade's Order Flow category, where indicators show hidden buying and selling pressures inside your charts, the Unfinished Auction helps you interpret trader intentions through real actions. Unlike the Bar Volume Profile, which maps overall volume distribution, Unfinished Auction focuses on unfinished spots at key levels, so you get a sharper view for spotting revisit opportunities in futures trading.

Whether you are a beginner starting with E-mini S&P 500 futures (ES) or a seasoned trader handling crude oil futures (CL), this indicator makes it easy to spot high-probability setups. It works well in volatile commodity futures like gold (GC) or agricultural ones such as soybean futures (ZS), because incomplete auctions often lead to big moves. Pair it with tools like Imbalance for better confirmation, and you will gain insights that improve your futures strategies. Ready to use this for your next trade? Let's look closer.

How Unfinished Auction Works

At its core, the Unfinished Auction indicator scans each bar's volume profile to detect if the auction process is left incomplete. It is rooted in Auction Market Theory, which explains how markets find fair value, so it flags highs or lows where both bid and ask volumes exceed a minimum threshold. This suggests the price did not fully resolve, which means it might return later. This differs from a Session Volume Profile, which shows broad volume nodes, because Unfinished Auction pinpoints specific unfinished spots for precise futures entries.

Here is how the calculation works in simple steps. First, the indicator examines the volume profile of a bar, so it identifies the row with the highest and lowest prices.

$\text{High Row: Max price in profile where volume is traded}$

$\text{Low Row: Min price in profile where volume is traded}$

Next, it checks for unfinished conditions based on bid and ask volumes.

$\text{If askVol > V*{min} \land bidVol > V*{min} at high, mark as unfinished high}$

$\text{If askVol > V*{min} \land bidVol > V*{min} at low, mark as unfinished low}$

In simple terms, if there is enough buying and selling at the bar's top or bottom above your set minimum volume, such as 1 contract, it is unfinished. This means traders did not agree on value, so price may revisit to finish it. These levels appear as horizontal zones on your chart, which persist until filled by future price action.

In futures markets, this performs well during high-volume sessions or contract rollovers, where unfinished auctions signal exhaustion. For example, picture NQ futures pushing to a new high in a tech rally, but with balanced volumes at the peak, so an unfinished auction hints at a pullback. This helps you avoid false breakouts. Or in CL futures amid supply news, an unfinished low during a dip could flag a bounce, which aligns with broader trends. Tikitrade's version lets you adjust realtime limits, so it saves time by focusing on recent zones in fast-moving soybean futures (ZS). Wondering how to use Unfinished Auction in your trading? It pairs well with order flow for real-time futures insights.

Diagram: A bar chart that shows a volume profile with unfinished high and low levels marked for clear illustration.

Trading with Unfinished Auction

Risk Disclaimer: These trading setups are for educational purposes only and not investment advice. Past performance doesn't guarantee future results.

Use practical ways to trade futures with Unfinished Auction by combining it with other Tikitrade tools for strong strategies. Always apply stop-losses and consistent risk management, so you never risk more than 1-2% per trade to protect your capital in volatile markets like Treasury bonds (ZN).

Strategy 1: Reversal at Unfinished Zones
Setup: Watch for price approaching a prior unfinished auction level during a trend, paired with Market Structure (CHoCH/BoS) showing a change of character. This is ideal in ES futures after a strong upmove.
Entry: Enter short or long on a candlestick rejection at the zone, such as a doji close below an unfinished high.
Stop-Loss: Place it above the unfinished level by 1-2 ticks, which limits downside.
Take-Profit: Target the next support, such as a value area low, for a 2:1 risk-reward ratio. Unfinished Auction does well here by confirming exhaustion. Explore Exhaustion for similar signals.

Strategy 2: Continuation Pullback
Setup: In a trending market like upward CL futures, identify an unfinished auction as a pullback zone that aligns with Session VWAP.
Entry: Buy on a bounce from an unfinished low with volume confirmation.
Stop-Loss: Place it below the unfinished low by the average true range.
Take-Profit: Exit at new highs or a multiple of your risk, such as 3:1. This strategy works in commodity swings, where Unfinished Auction filters noise for smoother entries.

Strategy 3: Range-Bound Scalping
Setup: In sideways gold futures (GC), use unfinished auctions at range edges with Bollinger Bands for contraction signals.
Entry: Sell at unfinished high near band top or buy at low near bottom.
Stop-Loss: Place it outside the range by 0.5% of price.
Take-Profit: Aim for mid-range or opposite unfinished zone. Unfinished Auction helps pinpoint reversals in choppy sessions, which boosts confidence. Remember, test these consistently on a demo account before live futures trading.

Chart: Example of a reversal setup on an ES futures chart with unfinished zone and doji marked.

Tikitrade’s Unfinished Auction Indicator

Tikitrade brings the Unfinished Auction to life only on Tradovate and NinjaTrader Web, with premium features that set it apart for futures traders like you. Our version includes colorful cloud views for zones, trading signals with adjustable symbols, and algorithm changes for order flow precision, so it saves you hours of manual work in fast-paced markets.

What makes it unique? First, realtime optimization shows only recent unfinished levels, which is perfect for intraday ES trades without chart clutter. Second, paint options let you color-code highs as up and lows as down for quick scans. Third, it connects well with other order flow tools, which improves decisions in commodity futures like ZS.

Key customizable parameters include:

unfinishedVolumeMin (default 1) – Set the minimum bid/ask volume for detection, so raise it for stricter signals in high-volume CL sessions.
unfinishedLimit (default 100) – Caps historical zones, which is ideal for focusing on recent action in GC futures.
showUnfinishedSignal (default 'question') – Choose symbols like arrows for alerts on NinjaTrader Web, so you spot setups instantly.
unfinishedType (default 'all') – Toggle between all bars or fractal highs/lows to match your style.
realtimeUnfinishedLimit (default 20) – Limits live zones for performance in busy Tradovate charts.

Screenshot: Tikitrade’s Unfinished Auction showing customizable zone lines on Tradovate for your crude oil futures. Alt text: Tikitrade Unfinished Auction indicator applied to crude oil futures (CL) for SEO optimization.

Dive into more via our Order Flow category. Unfinished Auction futures trading indicator—try it on Tikitrade today!

Fun Facts About Unfinished Auction

Did you know the Unfinished Auction concept comes from Auction Market Theory, developed by J. Peter Steidlmayer in the 1980s while trading at the Chicago Board of Trade? He pioneered Market Profile to visualize auctions, and unfinished spots became key for spotting incomplete trades in futures. Many pros credit it for turning chaotic commodity charts into readable stories, which helps you trade with institutional insight. Check out his book Steidlmayer on Markets: Trading with Market Profile or visit profiletrading.com for deeper dives.

Conclusion

In summary, the Unfinished Auction indicator helps your futures trading by revealing incomplete auctions for smarter entries and exits across markets like ES, CL, and ZS. Tikitrade's premium version stands out with customizable signals, realtime optimization, and seamless Tradovate integration, which gives you a competitive edge no free tool matches.

Improve your game and spot hidden opportunities with confidence. Sign up for Tikitrade today and improve your futures trading with our premium Unfinished Auction indicator! Always consult a financial advisor for personalized advice in futures trading. Learn more about futures contracts at CME Group.

Frequently Asked Questions

What is an Unfinished Auction in futures trading?
It is a level where bid and ask volumes are balanced at a bar's high or low, which signals potential revisits. This is great for order flow strategies in NQ futures.

Can Unfinished Auction be used for day trading futures?
Yes, it thrives in intraday setups on NinjaTrader Web, such as scalping GC during volatile sessions.

How does Tikitrade's Unfinished Auction differ from free versions?
Our premium offers colorful paints, signal symbols, and performance tweaks, so explore via Order Flow for futures exclusivity.

What settings work best for Unfinished Auction on Tradovate?
Start with unfinishedVolumeMin at 5 for ES, and adjust realtimeUnfinishedLimit to 10 for cleaner charts in high-volume trades.

Is Unfinished Auction good for beginners in futures?
Yes, its simple zones make it accessible, so pair with Bar Delta Profile for easy learning.

How to combine Unfinished Auction with other indicators?
Link it with Supertrend for trend confirmation in ZB futures.

Related Indicators for Futures Trading

Improve your toolkit by pairing Unfinished Auction with these:

Bar Volume Profile – Combines for deeper volume insights in ES reversals.
Imbalance – Spots aggressive flows alongside unfinished zones for CL breakouts.
Session Value Areas – Aligns fair value with auctions for range trades in ZS.
Exhaustion – Confirms fatigue at unfinished levels in NQ futures.

Embed: Tikitrade tutorial video on Unfinished Auction for futures trading. Caption: "Watch how Unfinished Auction boosts your order flow edge on Tradovate!"