Footprint Chart by Th16rry

4 Mac

Description of the "Footprint Chart" Indicator

This indicator is an approximation of a true **Footprint Chart** adapted for TradingView, which does not provide access to tick-by-tick data or detailed order book information. It relies on **heuristics** to estimate the distribution of volume between buyers and sellers for each candlestick.

Key Features:

- Estimation of Buy/Sell Volume:
The indicator splits the total volume of a candlestick into two parts based on the candle's nature:
- For a bullish candle (close > open), it assumes that **60% of the volume** is executed on the ask (buys) and **40% on the bid** (sells).
- For a bearish candle (close < open), the estimation is reversed (40% buys, 60% sells).
- For a neutral candle (close = open), the volume is evenly distributed at 50% for each side.

- Calculation of a Simplified Delta:
The delta is defined as the difference between the estimated buy volume and sell volume. This delta helps quickly identify the dominant market pressure—positive for buyer dominance and negative for seller dominance.

- Visual Display:
- A label is placed on each candlestick displaying the delta value, with a green background for a positive delta (indicating buying pressure) and red for a negative delta (indicating selling pressure).
- A table in the top-right corner of the chart summarizes the estimated volumes for the current candle: buy volume, sell volume, and total volume.

#### How to Use the Indicator:

- Analyzing Buy/Sell Pressure:
By observing the label's color and the delta value, a trader can quickly assess whether the market shows a dominant buying or selling pressure during a given candle.

- Complementing Other Tools:
This indicator can be used alongside other technical analysis tools, such as the Volume Profile or trend indicators, to gain a more comprehensive understanding of market behavior.

- Supporting Decision Making:
By providing a visual estimate of the volume distribution, it can help identify divergences between price movement and volume activity, which may signal potential reversals or confirm ongoing trends.

Limitations:

- Heuristic Approximation:
The method of volume distribution is based on simple assumptions and does not reflect the actual order flow, which would require tick-by-tick data to be accurately represented.

- Data Limitations on TradingView:
Due to TradingView’s restrictions on accessing detailed order book data, this indicator can only approximate a Footprint Chart and does not replace specialized tools.

In summary, the "Footprint Chart" indicator provides a visual and quick estimation of the volume distribution between buyers and sellers for each candlestick, offering valuable insights into order flow dynamics while remaining aware of its heuristic limitations.

4 Mac

Nota Keluaran

Description of the "Footprint Chart" Indicator

This indicator is an approximation of a true Footprint Chart adapted for TradingView, which does not provide access to tick-by-tick data or detailed order book information. It relies on heuristics to estimate the distribution of volume between buyers and sellers for each candlestick.

Key Features:

- Estimation of Buy/Sell Volume:
The indicator splits the total volume of a candlestick into two parts based on the candle's nature:
- For a bullish candle (close > open), it assumes that 60% of the volume is executed on the ask (buys) and 40% on the bid (sells).
- For a bearish candle (close < open), the estimation is reversed (40% buys, 60% sells).
- For a neutral candle (close = open), the volume is evenly distributed at 50% for each side.

- Calculation of a Simplified Delta:
The delta is defined as the difference between the estimated buy volume and sell volume. This delta helps quickly identify the dominant market pressure—positive for buyer dominance and negative for seller dominance.

- Visual Display:
- A label is placed on each candlestick displaying the delta value, with a green background for a positive delta (indicating buying pressure) and red for a negative delta (indicating selling pressure).
- A table in the top-right corner of the chart summarizes the estimated volumes for the current candle: buy volume, sell volume, and total volume.

How to Use the Indicator:

- Analyzing Buy/Sell Pressure:
By observing the label's color and the delta value, a trader can quickly assess whether the market shows a dominant buying or selling pressure during a given candle.

- Complementing Other Tools:
This indicator can be used alongside other technical analysis tools, such as the Volume Profile or trend indicators, to gain a more comprehensive understanding of market behavior.

- Supporting Decision Making:
By providing a visual estimate of the volume distribution, it can help identify divergences between price movement and volume activity, which may signal potential reversals or confirm ongoing trends.

Limitations:

- Heuristic Approximation:
The method of volume distribution is based on simple assumptions and does not reflect the actual order flow, which would require tick-by-tick data to be accurately represented.

- Data Limitations on TradingView:
Due to TradingView’s restrictions on accessing detailed order book data, this indicator can only approximate a Footprint Chart and does not replace specialized tools.

In summary, the "Footprint Chart" indicator provides a visual and quick estimation of the volume distribution between buyers and sellers for each candlestick, offering valuable insights into order flow dynamics while remaining aware of its heuristic limitations.

6 Apr

Nota Keluaran

Footprint Chart V2.0

The Footprint Chart V2.0 indicator now offers a suite of new features to provide traders with deeper insights into market volume dynamics and volatility—all in a customizable, real-time display. Building on the original heuristic-based order flow approximation, the following improvements have been implemented:

- Real-Time ATR and Stop Loss Display:
The indicator now calculates the Average True Range (ATR) using a user-defined period and displays it directly in the table. Additionally, a dynamic Stop Loss (SL) value is computed as the current close minus the ATR multiplied by a user-configurable multiplier. This adaptive SL helps you tailor your risk management based on current market volatility.

- Customizable Table Layout:
You can now choose the position of the table on your chart by selecting from top left, top right, bottom left, or bottom right. Moreover, the indicator allows you to set the table's orientation—horizontal (with metrics displayed in columns) or vertical (with metrics displayed in rows)—to best suit your viewing preference.

- User-Configurable Header Colors:
The background colors of the header cells for each metric (Buy Vol, Sell Vol, Total Vol, Avg Vol, ATR, and SL) are fully customizable. This feature lets you personalize the appearance of the table to enhance readability and ensure it fits seamlessly with your overall chart setup.

- Real-Time Data Updates:
All metrics—including the estimated buy/sell volumes, total and average volumes, ATR, and SL—update in real time with every new candlestick. This provides an up-to-date snapshot of market conditions, helping you make more informed trading decisions.

How to Use the Enhanced Indicator:

1. Input Settings:
- Configure the number of candles for average volume calculation.
- Set the ATR period and the SL multiplier according to your trading strategy.
- Choose your preferred colors for the table’s value text and header backgrounds.

2. Table Position & Orientation:
- Select the desired location for the table (top left, top right, bottom left, or bottom right).
- Choose whether you want the table to be displayed horizontally or vertically.

3. Interpreting the Data:
- Volume Metrics: Review the estimated buy volume, sell volume, total volume, and average volume to gauge order flow dynamics.
- ATR & SL: Monitor the ATR value to assess market volatility and use the dynamically calculated SL to refine your risk management approach.

4. Integration with Other Tools:
- Use this indicator in conjunction with other technical analysis tools on TradingView to enhance your overall market analysis without cluttering your chart.

This enhanced version of the Footprint Chart indicator is ideal for traders seeking a quick, customizable overview of order flow and volatility. Enjoy the improved visual clarity and flexibility to help you navigate the markets more effectively!