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the indicators I use are from Futures.io and NT8 indicators....here is my current screen..basically is use Cumulative Delta when it breaks out of the Bollinger band....sign of which direction....if I get three quick bars in succession I get in....four or more...even better...and if OBV is going in the same direction.....good solid signal....actually there are many signals...price has to break out of the Dynamic SR ColorZones also...
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you are correct, however the buyers and sellers are located at all different price points....which causes the price to move up and down, otherwise footprint and market delta would be worthless....when ever I make a trade I want to be sure Delta is on my side.....or Im on the side of Delta.....I should say Price and Delta have to be going in the same direction....
I should also add OBV …..should also be in line with price and delta....all three together is a winning combination...will work every time......if OBV is going in the other direction....look for a change in price and Delta...
there are about 6 different histogram indicators on page 40 of NT8 indicators here on futures.io ADXHist is one of those.....it says Histogram Collection for NT8...good stuff....
I stopped using CM not because it is 'useless', but because it is unnecessary. I make good decisions without it just fine. At some point, you aim at making your trading as simple as possible (though not simpler than THAT lol). CM didn't make the cut.
Now, I notice that new traders tend to see things as being either a 'holy grail' or 'useless' (i.e. black or white thinking). Things are hardly ever that simple. Trading tools tend to lay on a spectrum ranging from 'not very useful' to 'extremely useful'. The only question is what you find most helpful in your own trading. It also helps to realize that everything works some of the time. Therefore, context rules the day. Does your setup have good chances of working in the present context?
Just my 2cents.
You are never in the wrong place... but sometimes you are in the right place looking at things in the wrong way.
when using Cumulative Delta, you have to first determine if it works with the instrument you want to trade......it works very well with NQ, MNQ, ES, MES, CL, GC......it does not work well with RTY or 6E.....I dont trade YM: so not sure how it reacts with that....I only trade MNQ.....you have to learn how to read it..... just like Tape Reading...but it can confirm a good trade...and it does that quite often.....the only thing I have to fiqure out now....is how long is this trade good for....anyone have an indicator for that??? lol
