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Understanding Footprint Charts / Number bars


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Understanding Footprint Charts / Number bars

 
 gomi 
Paris
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Wow well done, wouldn't have thought of that to add a daily view on the right of the chart.
Awesome idea, thanks !

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toughiee
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Silvester17 View Post
yes, you're correct. the tools are from @gomi.

on the very right side is a volume ladder for the entire session. I added a second data series (daily bars) and applied the GomOrderFlowPro indicator to that data series:




Thats brilliant. Thanks

if you can share Gomi formula you are using for signal it would be great.

Thanks

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 Silvester17 
Columbus, OH
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toughiee View Post
Thats brilliant. Thanks

if you can share Gomi formula you are using for signal it would be great.

Thanks

it's basically the default delta divergence formula which is included. I just added a few conditions. but they need to be adjusted, especially with today's market environment.

but even with those additions, you can't take every signal blindly. many other things need to be taken in consideration. I never had a problem to share, but on more than one occasion I got blamed for losses. so I prefer not to share the settings anymore.

hope you understand.

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toughiee
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Silvester17 View Post
it's basically the default delta divergence formula which is included. I just added a few conditions. but they need to be adjusted, especially with today's market environment.

but even with those additions, you can't take every signal blindly. many other things need to be taken in consideration. I never had a problem to share, but on more than one occasion I got blamed for losses. so I prefer not to share the settings anymore.

hope you understand.

no issues buddy. i understand.

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 Silvester17 
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toughiee View Post
no issues buddy. i understand.

here're just a few things I pay attention to:

- if market volatility rises, I increase the size of the range bars. normally I use a 3 range chart, but lately switched to a 10 (sometimes 15). now all the settings change as well.

- at the beginning and the end of the session, I'm very cautious because of some unpredictable market moves.

- of course location is also important. one tool I'm using is the vwap. in non-trending days (range), I try to avoid trades between the 1st upper and 1st lower sd bands. concentrating more on opportunities outside the 2nd sd bands (mean reversion). in trending days, I consider 1st sd bands and vwap as good locations for pullbacks.




- I like to take delta divergence trades touching an earlier volume imbalance:




- also interesting, buying/selling delta divergence with opposite volume imbalance. makes it an even stronger divergence:





those are just a few things I pay attention to. of course other factors should be taken in consideration as well!!

 
 
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 forgiven 
Fletcher NC
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Blaster666 View Post
The trade you are describing, you entered short, didn't you? That's to say, you saw:

* Several bars with finished auctions at 3019
* This value 3019 acting as a "support" for a while
* Then you entered short because for some reason (I can't understand it yet) the price would go lower than 3019 for a couple of points

I looked at the DOM image you attached; it showed the most volume traded at 3019 at that moment.

i am not even sure what your asking . however i will give you my take. the areas in the print where very little contracts were traded are called areas of minus development . they will offer an area of S an R on the first retest. some software like market delta will highlight these areas . there caused by an order flow sweep . there were contracts pulled so the market orders had not market depth to fill them .

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 Big Mike 
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@Silvester17 would you please come on and participate in our webinar series "An Afternoon With".. ?

@tturner86 can schedule it. Say yes 👍



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 Silvester17 
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Big Mike View Post
@Silvester17 would you please come on and participate in our webinar series "An Afternoon With".. ?

@tturner86 can schedule it. Say yes 👍

@Big Mike thanks for the invitation, really appreciate it

but I have to pass on it. hope you understand

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 Jesal 
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Silvester17 View Post

- also interesting, buying/selling delta divergence with opposite volume imbalance. makes it an even stronger divergence:

This is interesting, going through my charts now... It works more often than not especially after a good runup/rundown.
Do you filter Delta [Painted Diamond] by a specific number or do you go with just less than zero or more than zero?

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 Silvester17 
Columbus, OH
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Jesal View Post
This is interesting, going through my charts now... It works more often than not especially after a good runup/rundown.
Do you filter Delta [Painted Diamond] by a specific number or do you go with just less than zero or more than zero?

I don't filter the delta. if I don't see the numbers (volume ladder) I like to use this kind of information:




normally the higher the delta, the stronger the divergence.


 



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