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Introduction to Footprint Charts in Orderflow Trading
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- Опубликовано: 24 июн 2022
- 💻 Website: www.priceactionvolumetrader.com
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Disclaimer: I am not a financial adviser nor a CPA. These videos are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. You must conduct your own research. I am sharing my opinion with no guarantee of investment gains or losses. You should never trade with money you can’t afford to lose. Prove profitability in a simulator before trading with real money.
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To lean more about Footprint Chart strategies and concepts check out my DayTrading with Volume Profile and Orderflow course on my website.
Definitely one of the best videos I've watched on footprint charts. Thank you for sharing.
Glad you enjoyed it!
it's amazing, I thought I knew everything and you explained it to me so well, I've never met anyone who explains their secrets so calmly, it's a pity I don't speak and write English, otherwise I would buy this lesson .thank you
Glad it was helpful! What’s your native language?
this is the best content I've found on the footprint chart by far. Solid gold! Many thanks
Glad it was helpful!
Could not find a better one on this topic. Thanks
Thank you for posting this footprint chart video - It's one of the very best I've seen!
Great to hear!
In fact all of us are truly indebted to you !
First of all, I want to thank you for all the professional content you are uploading to your channel. Since l'm following your videos, I have made a huge progress, and I'm considering taking your package course. Appreciate you very much. Thank you!
Grat to hear. Glad you are finding the content useful!
Thank you for clearing this up for me!
This video is very informative and it contains a lot of useful information - thanks.
The TIME STAMPS are great.
Special comments regarding the SHOW MORE section is extremely comprehensive - lots of good references. THANKS
Another great video! Thanks for taking the time to put this together. You have a great way of explaining these things. 👍
Thank you for taking the time to explain it slowly
Very nice and detailed information you have given sir, Simply great stuff...😊
Really great and informative video. Thanks.
Glad it was helpful!
I don't usually comment on material, but I must say that this was by far the best video I have seen about this topic. I will definitely be following you for more educational purposes
Great to hear!
Precious video, everything crystal clear, thanks!
Thank you
you are an amazing teacher, and finally understyod this footprints thank so much.
Blessings!
Excellent video... Thank you.
Awesome video tutorial ❤
Nice one 👍we need more vedios like this
Thanks for this video really helpful
Great Great Great video. Thank you. More on this please. Do you also have video on how to set this up with your personal settings
I have a video which is a full guide for how to design a footprint chart from scratch on Sierra here on my channel and I also share the Sierra chartbook for that footprint chart for free on my website.
ruclips.net/video/BkdZJRNc528/видео.html&ab_channel=PriceActionVolumeTrader
Thank you for sharing.
Thank you very much, very clear.
Very good explanation!
WoW.! This is a lot of education. Thank you.
You got it.
Great video! keep it up
Another awesome vid, Thanks
Great to hear Neel
Very well done 👍
Hi,
thanks to explain very well. what is the best footprint to trade forex and indices? thank you again to share your knowlege...
thannnkkkk youu sirr, you have made my day
At 46:25 when you show the high volume why were there negative deltas showing in your personal setting? Shouldn't it has been positive delta due to more aggressive buyers absorbing ask the selling?
It shows mostly negative deltas at the bottom of the swing because aggressive sellers try to sell thinking it will keep breaking down, but large limit orders are absorbing that large buying. But when you see the footprint it shows you executions. Which were mostly sellers at the bottom hence the negative delta numbers in the bottom chart. I am showing both a bid x ask footprint on top and a vol x delta on bottom.
awesome video , thank you ! do you have a video where you show us how to set up your sierra ?
I have an entire playlist of tutorials on different basic functions in Sierra Chart here:
Trading Platform Guides
ruclips.net/p/PLMjHbB08aD6qL2E8r9DTO58q_3gFEFXTT
Hey, glad found your channel. I will be looking at your house in detail before I join. Wanted to know do you teach all this in your course. I see you have a course on volume with orderflow charts etc...just wanted clarification before I sign up. I use Wycoff method for my readings and would love to learn more on orderflow charts and footprint. Let me know so I'm guided to the right course. Thanks in advance.
Hi. Yes, on my day trading course with VP and Orderflow I go over all the strategies I use for short term trading using among other things footprint charts.
Thank you. Will have a look and will contact you if need more info
@@amaz1011 You’re going to look at his house?
Hi, thank you for your content. In the footprint chart when you look at imbalance you have lower sells on the left paired with higher buys on the right. Why is it so instead of pairing lower buys with higher sells as you do in DOM? Thank you
A DOM you are looking at resting limit orders. So the buy orders are on the bid on the left side. The sell orders are on the right on the ask. When looking at the footprint you are looking at executed trades, meaning market buy/sell aggressive sellers filling those limit orders.
So the if I am looking for a buy imbalance for example, I would compare the executed sells (people that hit the bid or paid down to get filled immediately) vs the executed buys (people that lifted the ask/offer and paid up to get filled immediately). So you will always compare amounts on the footprint bid x ask as a diagonal going left to right.
If there were, lets say 10 executed contracts to sell on the left at 4000.00 in the ES vs 40 executed contracts to buy on 4000.25 on the footprint, then there is a 400% buying imbalance there. Of course you can tinker the settings to highlight whatever % imbalance you want, generally I look for 300% or more. And ideally you wanna see stacked imbalances to show even more momentum.
It makes sense. Thank you,@@PriceActionVolumeTrader
Thank you.
Great video! Can you tell me if footprint charts would be good for stock trading, looking to enter positions on ley support levels?
Sure. That is the C main function and it works best in centralized markets like futures and stocks.
Great for sure .
Thanks so much
It is really a nice session, however, how could use this approach in a real trade and how is it possible to use footprint charts in swing trading.
Thanks
You can use it like I showed in the video. I also go into detail on my day trading course on the strategies I personally use. Basically You can look for levels where high volumes come in and you look for absorption where a level-is getting defended. This is most useful in day trading. Swing Trading is harder cause footprints are not that useful on higher timeframes I feel. You want to look for quick divergences on it.
this is probably a dumb question but does one require Level 2 data for footprint charts? As I understand it, only the DOM requires level 2 market data only?
Yeah you’d need level 2.
Hey man, super usefull video. I'm trading BTC and use trading view and was wondering if you had any tips on how to get footprint charts into tradingview?
I have not seen any reliable footprint indicators available in TradingView yet sadly. But many other platforms offer it.
@@PriceActionVolumeTrader thanks!
Thank you so much!
I'm confused. You're saying "executed buy orders" on the right side, which is the ask price. The ask price is sells? Am I missing something?
You are confusing resting limit orders on a DOM with executed trades on a footprint. All orders have to be matched between buyers and sellers. So for a sell limit order on the ask side to execute, then you need aggressive buyers willing to lift the offer/pay up and so when the order is executed then that is what you see on a footprint. On the right side are executed market buys and on the left executed market sells. Obviously assuming it is set as a bid x ask footprint.
Hey question, why the footprint is read diagonally?
Because when you have a DOM or depth of market chart you have your price. And then your resting sell orders on the right (asks) and resting bid orders on the left (bids). In order for the market to move, aggressive traders need to either pay up or lift the offer or pay down or hit the bid.
@@PriceActionVolumeTrader in the video you keep saying ask is on left and bid is on right. confusing very much i a maybe mis understanding something. but thank you nonetheless
On the DOM limit buys (bids) are on the left and limit sells (asks) are on the right. But when looking at footprint you are looking at actual executed orders. So the left column is executed sells and the right side is executed buys.
@@PriceActionVolumeTrader thank you for the explanation! makes alot of sense i knew i was missing something
When you’re explaining the footprint at 21:54 , what separates the sell orders from the buy orders? As you said each buyer has a seller and every seller has a buyer, so I would think for every sell order there would be a matching buying order? Why are the numbers different?
Every execution on either side was a 1-1 match. Meaning if 1 lot is on the bid side for example that means a trader sold into a limit buy order, etc. for every number on both sides.
@@PriceActionVolumeTrader Ahh got it. Thank you very much!
23:30 Thanks for posting this great video! Is it possible to show the Delta at each price level on the chart? Hope to hear back from you.
Yes. Just change the data to display bid - ask in the settings.
Awesome. Thank you so much. I saw the answer at 32:00😊
Hi, top explained, IKnow it but not ever in use, which timeframe you have for both FP?
I was showing MES with a 2000 tick chart and 5min chart.
Good work 👍
Thanks ✌️
Firstly,thank you for very good guide.I want to ask that are all footprint charts and delta informations calculated due to market sell and buy orders ? In other words,limit sell and buy orders fill with market orders and they have shown on the chart as a information ?
Yes. When you see a DOM those are resting limit orders to buy/sell. In order to get filled there needs to be aggressive traders to that are willing to pay up/down into the next best available price. because for every buyer there is a seller. So when you see a footprint chart you are looking at the actual trade volume that executed at each price. And delta is basically market buyers-market sellers. So positive delta = more buy aggression. Negative delta = more sell aggression.
@@PriceActionVolumeTrader So,divergences occurs because of these.Everything is more clear now.Thank you sir...
Yes. If you see big aggressive selling at a swing low and price is going nowhere. That is a sign of absorption that big limit orders are getting filled there and could mean a reversal coming.
Ok but what happens with trades that are not executes neither on bid nor ask?
They all are. In futures for every buyer there is a seller and viceversa.
when you are explaining the bid ask footprint 14 mins and on, you only mention that the total volume in the footprint is caused by aggressive buyers and sellers. What about passive buyers and sellers ?
Well for every buyer there is a seller and vice versa. So in you are looking at a DOM, those are all passive participants with orders sitting in the book above/;below price. Granted these are constantly changing. Orders get moved, added, pulled, etc. But if you use limit orders you are basically considered "passive" If you just hit the bid or lift the offer to get executed right away with a market order you are being aggressive. The footprint shows you what actually got executed, the immediate aftermath or the price auction process. So meaning what buyers/sellers filled in the limit orders that were resting at each price level.
Another great video! It would be good to see some more footprint-related stuff. Also, Is there any chance you could upload a link to your Sierra Charts Chartbook file containing the footprint so I am able to mimic it? Thanks
Hey Sam. I will look into making a quick tutorial on my Sierra Chart series here on RUclips on how to set up a basic Footprint Chart.
@@PriceActionVolumeTrader Yes please!
Can you connect Sierra Chart to Binance or other crypto exchange to import data and use Footprint Chart to trade ?
Thank you for your lessons
Welcome! I have not connected personally but I have seen in the data connection options you can choose Binance and Bitmex data.
@@PriceActionVolumeTrader Thank you
Is it possible to connect with an FX site for data and trade on it. Thanks again
Not that I know off for using orderflow. Aside from CME currency futures.
If you are to make a comparison btn the FX futures and FX, can I use the FX futures charts as I also trade FX itself
Yeah, I think you could definitely use some intraday fx futures as confluence.
How to set footprint on trading view?
It doesn't exist yet in TradingView.
한국 사람입니다. 당신의 영상을 한국에서도 잘 보고있습니다.
채널에 오신 것을 환영합니다! 모든 곳에서 사람들이 지켜보고 있는 것을 보면 행복합니다.
are footprint charts useful for trading stocks too ?
Not so much as futures or bigger crypto markets.
Can I use order flow to trade crypto futures
Yes. Best in the most high volume exchanges and instruments like BTC.
Are you teaching bid and ask to someone who is looking at foot print chat. If someone does not know bid and ask why bother to look at foot print chart
Many people ask about it and they confuse what the difference is between a DOM and Footprint Charts so I just want to show how each works.
what software is this
Sierra Chart