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Hey Mike I love this footprint add on thank you very much, could you briefly talk about the pattern recognition, what it looks for and what it will look like on the chart? Thanks alot.
Yes sure.
With the latest version of the indicator, i've implemented a pattern detector class. This class has access to all the indicator properties and values to detect and visualize orderflow patterns. Detected patterns have a mouse-over event on the chart to display and/or explain the detected patterns.
Currently the only "pattern" that is detected are high volume nodes which are displayed as a colored rectangle at the center of the candle, but the idea is to add a few more real patterns which are displayed based on context to really be of value.
As i don't like to use fixed values, for example to check for high volume, i calculate the average volume/bid/ask/etc. over the last 10 completed bars and then use a multiplier (for example 3x) of that average to check for high volume/bid/ask. This has the advantage that you can put the indicator on another instrument without having to re-configure all the threshold values.
The current state of the pattern detector integration is more like a test or a first glimpse. There should be a lot more to come.
I never lose. I either win or learn. Nelson Mandela
Gruezi Mike,
i'd like to thank you for your great work.
It seems the defaults have changed quite a bit in the latest version, e.g. Midas on by default, Previous Session Profile With is 0, etc.
I found the old defaults a bit more practical. Not sure if this was intentional?
Yes i've changed them a bit but you can configure the indicator to your default needs and then click on the right bottom on "template" => "save" => "Save as Default". So you have "your" settings as default on each new instance of the indicator.
I never lose. I either win or learn. Nelson Mandela
While this does seem like a convenient way of setting defaults,
this can and might cause issues when you update your indicator.
When you add and/or remove properties to an indicator update:
Default might try to load properties that are no longer there.
(Depending on properties, I've seen this throw errors on load)
And None of the New Properties will be loaded by the template.
While I've not experienced new properties causing any issues.
(definitely need to re-save the template to include them)
Just my observations, tend to not use Default for Indicators.
But also easy enough to delete template if it causes errors.
(Something to keep in mind when you're updating anything!)