Hi Gopal,
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:
Dictionary:
YouTube Channels:- Axia Futures: youtube.com/@AxiaFutures
--> Lots of order flow content, including footprint, older videos are still very valid
- Trader Dale: youtube.com/@TraderDale1
--> Beginner-friendly content
- 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.
Blogs & Others...obviously there's way more. But these are the ones I have on top of my mind and which are providing some education for free.
Manuals from the vendor:
Tutorials from the vendor:
Basic Template:- 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"
Feel free to ask any specific questions about footprints or the mentioned addon's.
Let me know how I can help you in a direct way.
Best,
TB
