Futures Experience: Intermediate
Favorite Futures: Futures
Posts: 75 since Feb 2013
Thanks: 37 given,
Footprint : does bar type is better? And why?
I have tested many chart and understand which one is best charts to read footprint. But before to say I prefer to explain why and which kind of type bar I have tested.
1) range bar
The range bar has constant a range of price, than we can see better what's appended between bid/ask/volume and various prior bar
In this kind of bar we can watch bid/ask and to understand if there is a congestion or fast bar easily from range of bar
Point&figure is very much used to watch the reverse point where the price bounce. The delta I think is wrong because when there is a long bar is impossible to compare delta of the small bar. Many time I missed the Delta Divergence pattern although I often got split POC in the same bar.
The bar based of time is good to watch bid/ask/volume/range the current bar just to consider the cluster volume where to try an entry on the market in the bar
There is no constant range and volume just the price make a New tick with no cumulative orders
So, at moment I think the best bar is renko!!!
Exactly unirenko bar because I can read with precision timing what is doing the buyer and seller and follow orders of the institutionals
I happy if other people can share own opinion about
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Last edited by ninjadiluce; September 11th, 2016 at 03:25 AM.