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mzPack
I've used mzPack as well for a long time, not only the footprint but also other mzPack Indicators, such as MP and VP. I was very satisfied, did not look any further after that purchase. There are a lot of customization, tweaking and functionality available.
Overall it has me served well.
But meanwhile I've moved away from mzPack in general. The change was initially triggered due to performance issues I've experienced with NT8 in general at some point (not directly due to mzPack) and the desire to visually clean up my charts. So I had to strip things down, made a lot of performance testings and optimized my workspace more than I had already at that point.
mzPack was one of the indicators which used quite a good amount of resources, compared to the alternatives I've considered.
By trying other products, I found the alternative slightly more stable (performance wise); more readable and clean (more intuitive), especially in action under moving live conditions. (maybe more a personal preference thing)
So I'm currently using a lot of stuff from the ACME Suite from RanchoDinero.
Test before commit
Whatever Indicator you are interested in, I would definitively advise to be intentional about what your need is, then test and compare different indicator first, before fully committing to one.
Often you'll get your hands on the manuals (learn about features), videos (see it in action), getting trial period (testing within your use case) or alternatively just buying an affordable monthly license (forward test the indicator).
Render Frequency for orderflow visualisations:
For this type of Orderflow chart, I would also highly recommend experimenting with the TickRefresh indicator to get higher render frequency above the by NT8 natively fixed 250ms. This is for the same reason why the DOM also updates faster than 250ms, it gives visually more clues and is easier to pick up the action. (Although not sure how accurate the sequence really is with this workaround)
no, not really, i made a few tests after your initial post in a slow moving es and couldn't find any discrepancy comparing it to the incoming ticks/volume in a live market.
when it comes to historical calculation, there could be some differences based on how the ticks are recorded in tick replay, vs adding a one tick serie. maybe also how ninjatrader is feeding these ticks into each chart. the data provider could be an issue too.
there have always been some discussions on how ninjatrader triggers a new bar and there are different approaches to handle this event.
it's strange but best to test on a 1 minute chart in a slow moving market i guess. comparing live and historical bars.
i actually can't completely rule out any bugs but there should be none.
will give it another try this week if i find the time.
all the best,
mike
I never lose. I either win or learn. Nelson Mandela
mk77ch,
1. can you explain cumulative swing delta, and particularly how you use it?
2. does your foot print render a full depth map, like the order flow depth map (bookmap style)?
I've noticed the same behavior but through different sources.
'
This is our footprint
this is sierra chart, which if you take any value and 2x it you'd get the footprint v2 value. On a side note, I have also noticed that if you look at the lowest tick on the current bar, the bid ask is the wrong way around showing 45*0 vs 0*90. I may be ignorant to something and may be my mistake.
Tradingview volume on the 2nd last candle shows approx 13k but the volume in the footprint (at bottom) shows 26k.
I've been able to replicate this live too
Overall I think this indi is amazing and I thank the author for their work
I really like it too. Right now, because of this and the font size issues I have I actually turn off the footprint. stacked imbalance still gets flagged, the delta shaded candles are excellent, and the 3 layer volume profile is REALLY COOL. Since I'm no expert at reading footprint info anyway, I'll typically take a trade off of a 500 tick chart and then flip over to an 8Range chart with a different footprint indicator to watch it and study the entry and exit.
I am just beginner in using foot print indicators, long way to go to learn, you have shared some charts - is there way you can share the templates - for Acme and Mz Pack and any also you tube links where I can learn about foot print.
Footprint charts display order flow information, and there are various ways to set them up based on what you want to see. For example, there are Bid/Ask footprints, volume footprints, delta footprints, or combinations of these.
It's important to have a good understanding of order flow to effectively use footprint charts. Knowing what you want to see from the tool will help you set it up properly. While footprint charts are highly useful for execution timing and confirmation, they are often just one element of an overall strategy. But I'm not here to say what's right or wrong, or what works or not. It's just to give some context.
I want to emphasize that simply passing you a bunch of templates wouldn't be beneficial unless you understand what the settings represent. The configuration can be instrument-specific because liquidity varies from product to product. For instance, I use rotation-based bars rather than time-based bars for my footprint charts, based on how I use this information within my entire execution process.
I'm happy to help you understand any parameters you find confusing. Additionally, both ACME and MZPack also come with manuals that describes all the settings and how they affect the tool.
This isn't a pushback on your request for help, but I believe in the importance of understanding rather than just copying. There are many resources available to help you learn about footprint charts. To give you a little nudge, here some resources available to you:
JigsawTrading: youtube.com/@jigsawtrading --> Known vendor in the orderflow space
..."YouTube" - That's a difficult topic for me. I know, there's a lot lot lot more and good stuff around, but I don't feel very comfortable recommending trading education through YouTube in general. But as complementary resource, definitively worth a look.
I also don't want to give recommendations which I've not used or completely seen myself and thus not knowing what's in it.
MZPack: Various tutorial videos explaining different settings are available directly on their product page http://www.mzpack.pro/product/mzfootprint-for-ninjatrader-8/ and their official YouTube channel [yt]https://www.youtube.com/@mzpacktradingtoolsforninja7994[/yt]
If you still feel more comfortable with a template, you might want to share your time frame and traded product on which you intend to use footprint charts. I can make you some templates with common settings, just to give you a little jump start.
Note: I think there's no need to buy an expensive courses, especially not right away. Figure out the basics through your own research and then put in screen time for a while, observing order-flow and see how far you get first.
Also take your time to research and play around with the charts and observe order flow in the live market. Each time you encounter a term or concept you don't understand, expand your research further. Over time, you'll become more fluent and understand the concepts. In the end it's not rocket science neither.
The forum also provides you excellent help if you are stuck on something specific.
Note II: I hope I don't digress too far from the topic, but there's a great podcast by a small group of order flow traders that I find highly valuable. It's fairly new and rather unknown, but they share excellent content with many gold nuggets to take away, and it's fun to listen to. This may provide additional context in general about intraday trading with order flow.
I highly recommend tuning in:
"Paint' The Tape Podcast"
