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Footprint: time, tick, or volume?


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Footprint: time, tick, or volume?

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  #1 (permalink)
stephenville
 
Experience: Beginner
Platform: NinjaTrader
Trading: MES
 
Posts: 9 since Jan 2021
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When using a footprint chart to monitor the market, what type do you prefer and why? (250 Tick, 2000 Volume, 5 min, etc)

I specifically trade MES daytime myself, but any information is good information.

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  #2 (permalink)
London UK
 
Experience: Intermediate
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I'm assuming you know that you should be using the ES for footprint charts and then crossing the volume over to the MES?

Lots of people have different ways to view price action so there's not one definitive answer.
Personally I think you need to have time charts with footprint because what volume and tick charts don't tell you is the velocity, speed and volume of a move. If a 1 min bar has approx 10000 contracts in it when the normal volume is 3000 contracts and it has performed a pin bar spike with a long wick with lots of trapped sellers/buyers showing in cumulative delta/delta then what does that tell you?
Contrast that with what a volume or tick chart will tell you in that same price move.
Just my opinion.

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  #3 (permalink)
Cambridgeshire, UK
 
Experience: Intermediate
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A Tick or Volume footprint can be useful to show a liquidity pocket that has been accumulated over a period of time. If using, say, a 5min FP, you may not notice some buying now, then some more in 10 min, and more in 20min time. But a tick or volume FP could lump this lot together and show quite a large pocket....

I actually have all 3 types set up, not looking at them all at the same time, but I'll occasionally glance at each. Of course you can say this could add to confusion.. And I'll have different Tick and Volume settings for the London Open and US Open...

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  #4 (permalink)
Toronto Canada
 
 
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I prefer the 1 minute or 5 minute chart but that's based on my own style. I've seen Michael Valtos's videos on order flow/the footprint chart and he had also used a range chart instead of time depending on the market. I haven't really used the range chart myself though to say. But maybe it is useful to see repeated interest across time at a particular price level.

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  #5 (permalink)
Chicago, IL
 
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Time based are a great quick reference for volume and delta.

Range bars work very well for footprint charts as well, for ES I usually use a 10 tick range.

Another you can try is point and figure if you have them available. I know they are available on seirra chart but not sure about other platforms.

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  #6 (permalink)
stephenville
 
Experience: Beginner
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Trading: MES
 
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Currently I'm using the a 5 min footprint with the volume, delta, delta change being monitored. I guess instead of exploring the range option I added a 8 tick renko chart to keep some perspective.

Guess I need to experiment with the range chart instead of two charts. It feels awkward having my main chart not being time based though.

A volume footprint too. I have a VWAP setup but I'm always looking for more perspective on volume. I think its becoming one of my favorite indicators.

Its looking like I'm shaping up to be a intraday swing trader of sorts.

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  #7 (permalink)
Moscow Russia
 
 
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Time-based is most convenient for me. 1 minute, or five, is the maximum.

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  #8 (permalink)
Toronto Canada
 
 
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mongoose View Post
Time based are a great quick reference for volume and delta.

Range bars work very well for footprint charts as well, for ES I usually use a 10 tick range.

Another you can try is point and figure if you have them available. I know they are available on seirra chart but not sure about other platforms.

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I haven't used that type of chart myself but Tradovate also has the point and figure charts (rendered as "point & figure" on this page) Advanced Charts now Include Even More

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  #9 (permalink)
Chicago, IL
 
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I dont believe they have the option to use PnF on their bid x ask bars(footprint) though. The footprint type bars are limited to minute, tick or range.
geistflow View Post
I haven't used that type of chart myself but Tradovate also has the point and figure charts (rendered as "point & figure" on this page) Advanced Charts now Include Even More

Sent using the futures.io mobile app

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  #10 (permalink)
Chicago
 
 
Posts: 1 since Sep 2009
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I have been using 5 bar reversal charts (similar to point & figure) on Sierra

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