Delta Footprints Give You A Different View Of Order Flow
There are different types of order flow footprint charts available to traders:
the normal bid/ask footprint, the delta footprint, the volume footprint and the diagonal delta footprint. Each type of chart provides traders with ways to take advantage of the market. In this video, I discuss how to use the delta footprint chart wisely.
The delta footprint is an incredibly useful order flow footprint chart for traders. It tracks the changes in market orders, allowing traders to identify changes in buying and selling momentum. A properly utilized delta footprint chart can be a powerful tool for spotting potential profitable trading opportunities. For example, when the delta bars are clustered around one side of the bar, it indicates a possible shift in trend direction that could be a great time to enter into a trade. Understanding how to read and interpret the information provided by the delta footprint chart takes some practice but is well worth it for traders looking to take advantage of short-term market movements.
Delta footprints offer a powerful tool for traders to gain insight into the underlying market dynamics that may otherwise go unnoticed. Delta plots provide a detailed glimpse of order flow, enabling traders to not only observe the direction of orders, but also look for indications of momentum shifts as delta values accumulate over time. Trading with delta footprints gives traders a greater degree of clarity and accuracy when it comes to making informed investment decisions—a valuable asset in any market environment.