Agreed. It may be enough, however, to use for grey-box type trading. 

Eugene Kononov wrote:
>
>     JBT is surely a nice tool, but any attempt to use only depth or just
>     depth derived data to decode the market would be futile. I mean to
>     design a stable strategy profitable over a long time. Balance in JBT
>     can be simply regarded as another good oversold and overbought
>     indicator and it can only serve as that purpose.
>
>
> I agree. Although depth balance seems indicative, it's not enough by 
> itself to design a sustained profitable strategy.
>
>
>
> >


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