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I like to take reversal trades off of Imbalance on high/low of day. I used to take almost every Imbalance. But now just on the LOD/HOD . A great cure for my overtrading lol. This delta divergence is a great addition. Thanks for sharing
Do you watch other timeframes? Or just range bars with this divergence?
As pointed out above it is best to use "footprint" charts at and around the high or low of day. I use them at high and low volume levels of each 30 minute bracket. This is an example from my InvestorRT Volumescope indicator:
Here's another way of looking at the "Volume Ladder" that I'm certain many of you already know of:
It's a little harder to see in real time unless you choose to focus solely on the Volume ladder, but in the simplest of terms:
You're looking for "Deceleration of greater than 90%"
How do you see that?
Look to the bar directly to the left of the current bar (in this case the bar that followed the High of the Day (To that point in the day).
If the numbers in the current bar are less than 10% of the numbers at the same price in the previous bar you've found what you're looking for.
You can also look at the number directly below the last number printed on the ladder (or above for the opposite condition)
Is that number 10% or smaller than the number directly (in this case) below it?
Or in this case above it?
R.I.P. John Bottomley (Botts), 1956-2022.
Please visit this thread for more information.
Great post and thanks! I am having a bit of trouble understanding about the numbers being 10% smaller than numbers directly above/below them. Are we looking at numbers on the bid or ask? Are we looking at the total volume at that particular price?
It was meant to be a General statement, - if you look for a 90% "Deceleration" it's not exactly carved in stone,
But as an example (only) and this one might not be the best example,
If you look at the low of one of those 30 minute bars on the Volume Ladder,
look to the left and look above
Is the 48 At Bid less than 10% of the 532 At Bid? yes
Is the 0 At Offer less than 10% of the 21 At Offer? yes
There's no guarantee that they won't come back and whack it lower, but at that moment It looked like a good place to set my protective stop if I managed to get long around there.
I hope that helps clear it up for you.
R.I.P. John Bottomley (Botts), 1956-2022.
Please visit this thread for more information.