mk77ch 

these colored bars are not drawn by the Footprint indicator. i don't know what they are visualizing. cheers, mike

Mike, yes you are right, these colored bars are drawn with a special frame around in some cases by BI TSI plus an indicator

that I found time ago here

Download: TSI Plus v.1 Hello All, I asked Adrian over at Expert Trading Programmers to be build me a True Strength Indicator that would paint the bars when price was overbought / sold. He did a great job creating it and I thought I would share it. I edited the install … personbrettji

, but I got troubbles to find out a detailed description ...

Will ask to "brettji" ... mybe he has more details ...

Regards
A.

brettji 

ice_screenshot_20240313-043758

Alinghy 

Hi Brettji Sorry to bother you... I would like to ask you for clarification regarding the chart that I attach here and which concerns today's stock market day: could you illustrate the various types of candles refined with a frame around them that can be seen in the chart, clear green bordered by a light line, pale green, intense red and pale red, intense red bordered by a green line and intense green bordered by a red line etc etc.. Thanks in advance while I apologize for the time you may want to spend. rgds A.

ES JUN24 (5 Minute) 2024_04_17XYZ

mk77ch 

these colored bars are not drawn by the Footprint indicator. i don't know what they are visualizing. cheers, mike

They are the painted bars from the TSI Plus indicator from the downloads section.

brettji 

They are the painted bars from the TSI Plus indicator from the downloads section.

Hi Brettij,

exactly BI TSI plus, by the way it seems you posted it into the download section, I thought you might be able to give some more detail

on the meaning of the color of the candles and different colors of the frames around them....

hope you'll be so kind and can give help
Thanks
A.

brettji 

They are the painted bars from the TSI Plus indicator from the downloads section.

Hi Brettij,

I apologize in advance for what I will write below... but in your opinion is there a sense in posting a customized indicator in the "download" section as it appears from the description you made of it upon insertion and which you say having asked a team specialized in the creation of trading utilities, without also obtaining and making available to those who wish to download it a description of what the indicator itself shows?

I would understand if you had found it by chance on the web, but so... if we want to give us a hand, because your making it available brings me back to this feeling of collaboration, it leaves me surprised, where is the usefulness of being able to use a something for which at least the important details are not known other than the fact that we are talking about a Tsi indicator... I imagine the frames of each candle will make sense otherwise what sense is there in delimiting them with frames of particular different colors or the substantial absence of these frames will have a pure logical sense and the intention of wanting to identify a particular action between buyers vs sellers and vice versa as well as finally for the different shades of green or red ???

With these considerations of mine I do not wish to offend anyone, but to bring a simple and clear reflection.
Thank you
regds
A.

mk77ch 

Hello, i've tried to explain a few of the things using your image. ES JUN24 (5 Minute) 2024_04_15_1 I've also recently uploaded a new version of the indicator which includes a few fixes and some new features. All the best, Mike

Hi Mike,

I'll upload an image of this morning my time in Montecarlo, regarding ES June24 5minutes chart, can you kindly provide your key to understanding this early chart by highlighting and explaining once and for all everything that you see as important: there are so many partly unknown details, which certainly have a "name", so to speak, and above all a key of reading as said before which will have its importance ...
I know it is not a small job, but thanks in advance for whatever you want / can do on the merits,
even step by step a little at a time!

My best regards
Alinghy
ES JUN24 (5 Minute) 2024_04_30 (09_02_34)

Hello Alinghy,

well the problem is that i don't know your trading background. Trading and specially trading orderflow has so many aspects which have to be learned and studied for quite some time.
There is no way i can and want to pack all this knowledge into a forum post. The other thing is that i am pretty busy with family, work, trading, projects and the house, so i simply don't have the time to spend hours on here and explain charts to strangers. Please don't get me wrong, i appreciate every person who is using the freely shared indicators and i try to do my best to answer specific questions when i see that something isn't clear or self-explanatory.

So i try to keep this as simple as possible and tell you the basics on how i use the indicator.

One of the reasons i wanted to create my own Footprint chart in the first place was the sensory overload caused by these charts back when i started to write the first version.
My goal was to create a visual footprint chart which is reduced to the essential information which are needed to make proper trading decisions. Another thing i was missing, was the possibility to quickly switch between the footprint chart and the standard candle chart.

I am trading the MES and the ES Futures contracts only and have done this for years. Every instrument has its own character and peculiarities. By sticking to one instrument you learn about all these characteristics and with time it gets easier to read the charts of that instrument.

I've tried many different chart types from tick, range and renko to other custom ones but always ended up back on the 1 minute or 5 minute charts. so i would recommend sticking to the 5 minute chart as long as the stops don't get too large based on volatility which changes over different months of the year.

As i've said earlier i spent quite some time thinking about the sensory overload caused by charts and specially footprint charts.
Packing your charts with indicators gives most people the feeling of adding another layer of confirmation or certainty but in fact, keeps them from making trading decisions because of sensory overload and confusion.

My workspace (attached) consists of two charts:

• a 5 minute chart with 60 days of data (or more, based on what is needed)
• a 5 minute chart with 5 days of data

The 5 minute chart with more data is running a simplified version of the Supply/Demand Zones indicator (attached) which can draw global zones (on all charts) and is used to get a quick overview of the bigger picture.
The other 5 minute chart is running the FootprintV2, a 21 period ema channel (high, low, median) and the daily vwap without any deviations.

The vwap and emas are used together with the current market structure to determine the actual trending direction. Pullbacks to the 21 period ema or vwap provide setups for continuation.
The zones provide setups for continuation and reversals based on where they are located.

The last element to fine tune entries, exits and everything else, is based on the footprint.
I usually just watch the candle stick chart and use the hotkey to switch to the footprint chart on entries, exits or anything else that needs a closer observation.
To fine tune entries, watch out for where the most volume has traded over the last x bars (dodger blue shaded), where the last few POC's are located and how price reacts around your potential entry level.
To fine tune stops, give the trade enough room, place your stops behind POC's, zones and if above/below highs, always use the second close high or low.

And that's pretty much everything about the technicals.
Everything else is psychology.
Develop rules around your setups and stick to them.
Always use a stop and don't touch it.
Don't overtrade, have patience.

Since i've created this footprint chart, many other good products have been developed. One of the best can be found here: https://tradedevils-indicators.com/products/footprint-orderflow-indicator-ninjatrader
They sure have an actual support and manuals to dig into so a lot of things will be much easier to learn.

All the best,
Mike

mk77ch 

Hello Alinghy, well the problem is that i don't know your trading background. Trading and specially trading orderflow has so many aspects which have to be learned and studied for quite some time. There is no way i can and want to pack all this knowledge into a forum post. The other thing is that i am pretty busy with family, work, trading, projects and the house, so i simply don't have the time to spend hours on here and explain charts to strangers. Please don't get me wrong, i appreciate every person who is using the freely shared indicators and i try to do my best to answer specific questions when i see that something isn't clear or self-explanatory. So i try to keep this as simple as possible and tell you the basics on how i use the indicator. One of the reasons i wanted to create my own Footprint chart in the first place was the sensory overload caused by these charts back when i started to write the first version. My goal was to create a visual footprint chart which is reduced to the essential information which are needed to make proper trading decisions. Another thing i was missing, was the possibility to quickly switch between the footprint chart and the standard candle chart. I am trading the MES and the ES Futures contracts only and have done this for years. Every instrument has its own character and peculiarities. By sticking to one instrument you learn about all these characteristics and with time it gets easier to read the charts of that instrument. I've tried many different chart types from tick, range and renko to other custom ones but always ended up back on the 1 minute or 5 minute charts. so i would recommend sticking to the 5 minute chart as long as the stops don't get too large based on volatility which changes over different months of the year. As i've said earlier i spent quite some time thinking about the sensory overload caused by charts and specially footprint charts. Packing your charts with indicators gives most people the feeling of adding another layer of confirmation or certainty but in fact, keeps them from making trading decisions because of sensory overload and confusion. My workspace (attached) consists of two charts: a 5 minute chart with 60 days of data (or more, based on what is needed) a 5 minute chart with 5 days of data The 5 minute chart with more data is running a simplified version of the Supply/Demand Zones indicator (attached) which can draw global zones (on all charts) and is used to get a quick overview of the bigger picture. The other 5 minute chart is running the FootprintV2, a 21 period ema channel (high, low, median) and the daily vwap without any deviations. The vwap and emas are used together with the current market structure to determine the actual trending direction. Pullbacks to the 21 period ema or vwap provide setups for continuation. The zones provide setups for continuation and reversals based on where they are located. The last element to fine tune entries, exits and everything else, is based on the footprint. I usually just watch the candle stick chart and use the hotkey to switch to the footprint chart on entries, exits or anything else that needs a closer observation. To fine tune entries, watch out for where the most volume has traded over the last x bars (dodger blue shaded), where the last few POC's are located and how price reacts around your potential entry level. To fine tune stops, give the trade enough room, place your stops behind POC's, zones and if above/below highs, always use the second close high or low. And that's pretty much everything about the technicals. Everything else is psychology. Develop rules around your setups and stick to them. Always use a stop and don't touch it. Don't overtrade, have patience. Since i've created this footprint chart, many other good products have been developed. One of the best can be found here: https://tradedevils-indicators.com/products/footprint-orderflow-indicator-ninjatrader They sure have an actual support and manuals to dig into so a lot of things will be much easier to learn. All the best, Mike

Hi Mike

I would like to thank you for your valuable contribution.

Now I have a question: where can you find reliable, real-time news on the ES?
I also use some news sites for announcements that affect the stocks,futures etc ... markets every day, such as...

https://www.fxstreet.com/economic-calendar
https://tradingview.com/economic-calendar/
https://www.investing.com/economic-calendar/
https://www.forexfactory.com/calendar,,,

but it would be useful for me to have a further qualified source, to be able to verify extremely quickly, the reason i.e. for such a nervous and bullish spike like the one that is right now taking the Es above 5100 again...

Thanks for your time
A.





ES JUN24 (5 Minute) 2024_05_01 (20_51_28)

Alinghy 

Hi Mike I would like to thank you for your valuable contribution. Now I have a question: where can you find reliable, real-time news on the ES? I also use some news sites for announcements that affect the stocks,futures etc ... markets every day, such as... https://www.fxstreet.com/economic-calendar https://tradingview.com/economic-calendar/ https://www.investing.com/economic-calendar/ https://www.forexfactory.com/calendar,,, but it would be useful for me to have a further qualified source, to be able to verify extremely quickly, the reason i.e. for such a nervous and bullish spike like the one that is right now taking the Es above 5100 again... Thanks for your time A. ES JUN24 (5 Minute) 2024_05_01 (20_51_28)

For news i use : https://ninjatraderecosystem.com/user-app-share-download/news-econ2b-updated-jteconnews2a/

mk77ch 

Hello Alinghy, well the problem is that i don't know your trading background. Trading and specially trading orderflow has so many aspects which have to be learned and studied for quite some time. There is no way i can and want to pack all this knowledge into a forum post. The other thing is that i am pretty busy with family, work, trading, projects and the house, so i simply don't have the time to spend hours on here and explain charts to strangers. Please don't get me wrong, i appreciate every person who is using the freely shared indicators and i try to do my best to answer specific questions when i see that something isn't clear or self-explanatory. So i try to keep this as simple as possible and tell you the basics on how i use the indicator. One of the reasons i wanted to create my own Footprint chart in the first place was the sensory overload caused by these charts back when i started to write the first version. My goal was to create a visual footprint chart which is reduced to the essential information which are needed to make proper trading decisions. Another thing i was missing, was the possibility to quickly switch between the footprint chart and the standard candle chart. I am trading the MES and the ES Futures contracts only and have done this for years. Every instrument has its own character and peculiarities. By sticking to one instrument you learn about all these characteristics and with time it gets easier to read the charts of that instrument. I've tried many different chart types from tick, range and renko to other custom ones but always ended up back on the 1 minute or 5 minute charts. so i would recommend sticking to the 5 minute chart as long as the stops don't get too large based on volatility which changes over different months of the year. As i've said earlier i spent quite some time thinking about the sensory overload caused by charts and specially footprint charts. Packing your charts with indicators gives most people the feeling of adding another layer of confirmation or certainty but in fact, keeps them from making trading decisions because of sensory overload and confusion. My workspace (attached) consists of two charts: a 5 minute chart with 60 days of data (or more, based on what is needed) a 5 minute chart with 5 days of data The 5 minute chart with more data is running a simplified version of the Supply/Demand Zones indicator (attached) which can draw global zones (on all charts) and is used to get a quick overview of the bigger picture. The other 5 minute chart is running the FootprintV2, a 21 period ema channel (high, low, median) and the daily vwap without any deviations. The vwap and emas are used together with the current market structure to determine the actual trending direction. Pullbacks to the 21 period ema or vwap provide setups for continuation. The zones provide setups for continuation and reversals based on where they are located. The last element to fine tune entries, exits and everything else, is based on the footprint. I usually just watch the candle stick chart and use the hotkey to switch to the footprint chart on entries, exits or anything else that needs a closer observation. To fine tune entries, watch out for where the most volume has traded over the last x bars (dodger blue shaded), where the last few POC's are located and how price reacts around your potential entry level. To fine tune stops, give the trade enough room, place your stops behind POC's, zones and if above/below highs, always use the second close high or low. And that's pretty much everything about the technicals. Everything else is psychology. Develop rules around your setups and stick to them. Always use a stop and don't touch it. Don't overtrade, have patience. Since i've created this footprint chart, many other good products have been developed. One of the best can be found here: https://tradedevils-indicators.com/products/footprint-orderflow-indicator-ninjatrader They sure have an actual support and manuals to dig into so a lot of things will be much easier to learn. All the best, Mike

Hi Mike,

couple of questions:

Is there a way to put the "Supply/Demand Zones indicator" above in the first level after the black background of the chartbackground / behind the candles and anything else shown? And now the second question: how come if I insert this indicator into the left chart (let's call it the main one), the one on the left hand side of the image, then I also find it visible in the other charts where the ES is always loaded?

Is this mandatory or is it perhaps due to the automatic choice of the same indicator in the setup menu "data series -> Input series" (see red arrows)? As you can see in the chart (right hand side of the person looking at the image) the SupDemZones indicator is not deliberately loaded in this case... It seems strange to me, am I wrong or is it all due to the fact that the "SupDemZones" indicator is is it linked to the ES instrument and therefore necessarily appears in all the charts where the ES is loaded?

I find this a bit annoying, but I hope I'm the one making a mistake... however, if I remove the indicator in question from the chart (left hand side of the person looking at the image), it disappears from all the charts where the indicator ES is loaded.

I attach the example image for greater clarity...

Sorry, I add that if in the second chart the one on the right I insert the SupDemZones indicator and then remove the check mark in the "visible" field the "light blue" horizontal bars of the SupDemZones they fade only slightly and therefore remain clearly visible... while if I uncheck the "visible" field on the left chart (the one defined as primary above) the horizontal bars disappear completely in every charts where ES is loaded as is logical... I would say.

Thanks in advance for anything you can tell me about it and sorry for the inconvenience.

Regards
A.

ES JUN24 (5 Minute) 2024_05_02 (08_58_27)

ES JUN24 (5 Minute) 2024_05_02 (08_58_27)