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market delta default footprint shading on Sierra SC
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market delta default footprint shading on Sierra SC

  #1 (permalink)
Trading Apprentice
Vancouver, BC
 
Trading Experience: Intermediate
Platform: TOS, Sierra
Favorite Futures: ES, YM
 
Posts: 26 since Dec 2015
Thanks: 17 given, 9 received

market delta default footprint shading on Sierra SC

hello,

anyone know the default settings for market delta's shading?

from this marketddelta link (https://marketdelta.com/wp-content/uploads/2016/10/Learning-to-Read-the-Footprint-Chart.pdf), it looks like it's based on imbalance?

from page 4:

Quoting 
Colors & Shades of Individual Cells
The darker the shade, the more imbalanced is the order flow. Lighter shades indicate a more balanced
scenario. Likewise, a series of adjacent cells, all the same color, indicate directional trade. Roughly
alternating colors (candy-cane-like if you will) indicate balance and/or indecision. Don’t expect to see
“perfect” patterns. You may find it easier to ask yourself what something doesn’t look like, rather than
what it does look like. This inverse way of thinking can sometimes release you from being too attached to
what you believe, instead of what’s really there.

i'm trying to replicate the market delta default shading because two people i'm following on youtube uses market delta for mp & footprints, but use SC.

if anyone else has successful replicated market delta's default on SC (or is interested in achieving this), please chime in


I've tested a few settings and the closest I got was:

Quoting 
column 1 numbers bars text: bid vol x ask vol
column 1 background type: full background
column 1 background colouring method: based on askvol bidvol difference - actual

column 1 actual volume compare thresholds: 500, 1000, 1500


thank you for reading/helping!

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The following user says Thank You to whats1thingnow for this post:
 
  #2 (permalink)
Trading for Fun
Greeley Colorado
 
Trading Experience: Intermediate
Platform: sierra
Favorite Futures: crude CL
 
Posts: 70 since Nov 2016
Thanks: 23 given, 110 received

I would like to know if anyone has ideas as well. I am using the bid x ask vol actual compare for CL on a 7x1 point and figure chart and a 5 minute. Which is great for this specific TF and gives an objective read. I am not sure how Market Delta does the background coloring but I have searched and haven't found much info.

My issue is using actual compares based on volume doesn't work well for looking at other timeframes or for different products. So if I would like to look at a footprint on a 60 minute chart my actual values don't provide useful information. Also, my actual compare values won't be useful for another product like the ES because it's so much thicker. Thanks for any ideas.


Last edited by naesm; December 24th, 2018 at 04:26 PM.
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cl, delta, footprint, footprints, imbalance, information, market delta, marketdelta, order flow, patterns, point and figure, sierra_chart, type, values, volume

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