I use number/footprint charts on Sierra and I was watching this webinar from NOFT traders
They have a couple of indicators which colour the charts in certain ways on Ninjatrader and I was wondering if anyone here could adapt the principles to Sierra Charts - I have attached a pic to make it a bit clearer
The first is Responsive Selling (RS) - This is the part of the footprint charts on the offer side which is coloured in solid red. From what I gather its when there is decreasing volume on the offer side as the bar hits a high
The second is Responsive Buying (RB) - these are the boxes which are coloured in lime green in the chart - from what I gather it looks like there is decreasing volume on the bid side as the bar hits a low
Lastly is the trapped traders - these are Yellow/orange boxes which usually occur at a high or low of a bar - it looks like some sort of volume filter
I haven't been using footprint charts for long so apologies if this has been discussed in a previous thread. I couldn't find it in these forums
The problem that I have with footprint charts is they have so much info within them that making a decision can be overwhelming. Obviously this depends on time of day especially when using tick/ range/ renko charts as opposed to time based charts.
There's a trade room called The Rational Trader that uses SC numbers bars for plotting trade signals on a candlestick chart. I think the basics are acceleration, absorption based on bid-ask. The concept is similar to what you have here, heavy bid numbers (skew) but not making lower lows (absorption) and then acceleration would be making lower lows, higher highs etc.