Prospect, KY. USA
Experience: None
Platform: Sierra Chart
Broker: Infinity
Trading: /CL
Posts: 687 since Jan 2012
Thanks Given: 309
Thanks Received: 617
|
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.
-William
|