Footprint

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Footprint

Postby robocod » Sun Oct 28, 2012 4:41 am

I've been developing a "Footprint" indicator, similar to Market Delta, or Sierra Charts. It is now ready for release, and available on my blog.

The indicator attempts to classify the tick stream into buy/sell. These buy/sell classifications are at specific price levels, and the indicator accumulates these over the period of the charts' candle or bar. The results are displayed as text overlayed onto the chart, and there are various display and formatting options available for this.

You can read more on my blog.

Here's some screenshots of the indicator in action.

This chart shows the buy/sell ticks. The value before the 'x' is buy, the value after the 'x' is sell. The colour relates to the delta (i.e. buy - sell); net buying is green, net selling is red, and the colours fade to neutral as the delta approaches 0.

buysell1.png


This chart shows just the delta (i.e. buy - sell).

delta1.png


This chart shows the total tick volume at price.

total1.png


This indicator can be used for scalping, as well as more precise entries and exits. It is particularly useful when combined with support/resistance levels.

The indicator is for MarketScope. I am currently charging a small amount for this indicator. You can order it here.
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Re: Footprint

Postby Jeffreyvnlk » Wed Oct 31, 2012 8:50 am

That the most thing i looking for. Love tick things such as tick volume, tick price..
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Re: Footprint

Postby robocod » Sun Jan 27, 2013 12:55 pm

I made a Release 3 of this indicator. Main change is that the candle will also show the true open price (i.e. it will show the proper gap, rather than each candle opening at the previous close).

Footprint (Release 3)
  • Minor bug fix
  • Can now make the font bold for better visibility
  • It now draws accurate candles with correct open, high, low and close values (based of tick data)
  • POC highlight is now handled with a “transparency area”

screenshot1.png


Details can be found on my blog.
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Re: Footprint

Postby robocod » Sat Feb 16, 2013 12:58 pm

Release 5 with a new display format.

screenshot.png
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Re: Footprint

Postby Jeffreyvnlk » Thu Apr 25, 2013 4:43 am

Great indicator, i have looked your blog many times , it fantastic

However, the problem is I am not a faithfully day trader. I also not consider myself as a swing trader. Usually I stick to Taylor technique (3 day swing), Larry Williams (Hi and Low, Ooops day), Linda (z day) but i must see 1h chart for a precise entry which i agree with you totally. There is 1h candle at 3EST is a good candidate for making my entry. I guess this candle also very famous for London Opening strategy.Sometime this candle failed and must wait for the next one (4EST)

My target about the whole large day candle (Larry favourite day) which above 100 pips. Small range days I ignore so i guess i kind of selective day trader or shorten kind of swing

Appreciated if you can tell how your foot print, as well as your Buy- Sell Volume with Delta could add more value into my strategies.
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Re: Footprint

Postby robocod » Sat Apr 27, 2013 9:23 am

Jeffreyvnlk wrote:Great indicator, i have looked your blog many times , it fantastic

...

Appreciated if you can tell how your foot print, as well as your Buy- Sell Volume with Delta could add more value into my strategies.


Thanks for your comments. The Footprint is really useful for seeing 'inside the candle', particularly if you see a large amount of tick volume is built up at an existing support/resistance line, you know price will have trouble getting through it. I am mainly using the total volume.

I don't use the the buy/sell/delta so much, I found it doesn't seem to be as useful as I had hoped - although I know a lot of people use it for 'divergence', e.g. when price makes new highs but the delta doesn't.

I have been using Footprint mainly for scalping type of trades. However, this is quite hard work - you have to really keep your eyes on the ball, and remember to take the small profits. I am leaning to more of a swing trade idea at the moment.

If you want to request a trial of the Footprint, just drop me a note from my blog. Unfortunately, there's a couple of issues with the latest version of TradingStation: 1) there seems to be a bug in it, but they already fixed this in a test version, 2) the tick data is limited to 5000 ticks which limits how much data you can back-fill when loading a new chart. I can probably workaround the 2nd issue, and the 1st issue is fixed here.
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Re: Footprint

Postby Jeffreyvnlk » Sun Apr 28, 2013 9:26 am

Thanks for your comments. The Footprint is really useful for seeing 'inside the candle', particularly if you see a large amount of tick volume is built up at an existing support/resistance line, you know price will have trouble getting through it. I am mainly using the total volume.

I don't use the the buy/sell/delta so much, I found it doesn't seem to be as useful as I had hoped - although I know a lot of people use it for 'divergence', e.g. when price makes new highs but the delta doesn't.

I have been using Footprint mainly for scalping type of trades. However, this is quite hard work - you have to really keep your eyes on the ball, and remember to take the small profits. I am leaning to more of a swing trade idea at the moment.

If you want to request a trial of the Footprint, just drop me a note from my blog. Unfortunately, there's a couple of issues with the latest version of TradingStation: 1) there seems to be a bug in it, but they already fixed this in a test version, 2) the tick data is limited to 5000 ticks which limits how much data you can back-fill when loading a new chart. I can probably workaround the 2nd issue, and the 1st issue is fixed here.


I m thinking to buy your indicator, just give me a time how to add it with my strategy. I love Minimalism which few indicators as possible.

I agree with you, scalping is tough and EUR/USD jumping up and down about 20 pips each step so much of waiting and must keep watching the clock all time as well the charts (London AM fix, option expiration, PM fix, London closed, news...).On other hand, there is approximately 15% of time markets go into trend so it quite of boring if you are trend following or doing position. 1 year 3 times ? So may I recommend you to look at swing strategies which just exist from 1 day to 20 days. Usually I do swing but just 1 day and much look like day trading and more relaxing. Your knowledge all day trading will be ready to help you identify a perfect entry for swing. Reading Larry Williams', Linda Raschke's, and Douglas Taylor's might be a good start.
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Re: Footprint

Postby robocod » Fri Aug 23, 2013 5:51 am

Please check out my blog for updates on this indicator.
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Re: Footprint

Postby daniel.kovacik » Mon Jan 05, 2015 12:28 pm

Hello, I was looking for something similar like here: http://orderflow.systems/ for TS2.

I cant find footprint indicator in your website. Could you write my message about some updates of this indicator or If its possible to purchase.


Thanks
DK
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Re: Footprint

Postby robocod » Wed Jan 07, 2015 4:30 am

daniel.kovacik wrote:Hello, I was looking for something similar like here: http://orderflow.systems/ for TS2.

I cant find footprint indicator in your website. Could you write my message about some updates of this indicator or If its possible to purchase.


Thanks
DK


The Footprint indicator has not been available for some time.

FXCM made some changes relating to historic tick data (e.g. 5000 tick limit) which severely limited the usefulness of the indicator. There were a few other problems related to the quality of tick data from FXCM and the resource-intensive processing of tick data. So, I stopped development of the Footprint. I am still doing some experiments in this field, but don't have a replacement just yet.
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