Classic Footprint Types

2.3.2.1 Bid / Ask

Bid / Ask Footprint® – Displays the number of shares or contracts that traded while a particular price was the bid price and the number of shares or contracts that traded while a particular prices was the ask price. As the bid and ask change with price, the Bid / Ask Footprint® adjusts accordingly. They display as (bid traded volume x ask traded volume). (Example: 1000 x 400) The 'x' is just used as a spacer and not a mathematical operator. The Bid / Ask Footprint® keeps track of how volume trades at each price and classifies it as to whether it was buyer motivated or seller motivated volume. As a price goes from offer to bid and back, the Footprint® will keep track of the volume at each price.

To watch a video recording that gives an overview of the Bid / Ask Footprint®, click here or visit Video Library.

One of the primary things to look for is not just how a single Footprint® is developing, but how does it differ (or not differ) from the previous few Footprints® or bars. This will help give perspective as to whether the current move is strengthening or weakening.

All the Footprints® move from right to left across the screen, each bar or column referring to a time frame or specified periodicity. With each Footprint® type you have the ability to scroll back in time to view the previous price action or recall how much market activity took place.

· Click the BxA button at the top of the Footprint® window to view.

· Provides added price transparency to the post trade charting process

· This Footprint® will help you keep track of the market action as it happens.

· See exactly how bid traded volume and ask traded volume affect the market at each price.

· Follow volume and momentum as it happens through color shading set to your preferences or let the auto color shading algorithm do it for you.

· Footprint® shows whether the volume was on the bid side or the ask (offer) side.

· Scroll back in time and see what happened.

· See how many shares (contracts) traded.

· See how many orders where involved.

This chart, along with the valuable market information, presents a very simple interface, allowing the trader to be nimble and quick to react in any trading condition. You can quickly select which chart you want to see by just clicking the button at the top of the Footprint® panel.

Bid Ask Footprint®

2.3.2.2 Delta

Delta Footprint® – Displays a positive or negative number. A negative delta value represents how many more shares/contracts were sold on the bid as a result of the seller being more aggressive and hitting the bid. A positive delta value represents how many more shares/contracts were bought at the ask (offer) as a result of the buyer being more aggressive and taking the ask (offer). Delta is the term we use to describe the net difference between the quantity traded at the ask versus the quantity traded on the bid.

Delta Footprint® is used to give a measurement of buying and selling pressure at each traded price in real time. It also helps to quantify who is more aggressive (in turn

producing pressure), buyer or seller, as price fluctuates. The calculation would be the ask traded volume - bid traded volume = Delta Footprint®. Using the Bid / Ask

Footprint® example (1000 x 400), the Delta Footprint® would be -600, indicating more selling pressure at this price.

To watch a video recording that gives an overview of the Delta Footprint®, click here or visit Video Library.

· Click the "Dlta" button on top of the Footprint® panel to view.

· Provides more transparency as to who is attempting to influence the market more.

· Gives a true sense of buy and sell activity at each price.

· Using the column delta at the bottom of each bar it can help to confirm price direction and strength

· Very advantageous to see price runs sequentially. Begin to realize when a current run is running out of fuel.

· Know when a current price run is gaining momentum.

· Know when the buyers are accumulating and when the sellers are distributing.

The delta by price column (far left of chart) shows the overall delta for each price as the session progresses. This can be toggled on or off in the preferences window of the chart.

Delta Footprint®

2.3.2.3 Total Volume

Volume Footprint® - Displays the total volume traded at each price, regardless of whether it was bid or ask. This is helpful in showing where large volume occurs during trading. The calculation would be the bid traded volume + the ask traded volume = Volume Footprint®. Using the Bid / Ask Footprint® example (1000 x 400), the Volume Footprint® would be 1400. This will never be a negative number because it is the sum of traded volume at each price over whatever time frame or periodicity you specify.

To watch a video recording that gives an overview of the Volume Footprint®, click here or visit Video Library.

· Click the Volume button at the top of the Footprint® panel to view.

· Have the added edge and transparency by being able to see the breakdown of volume intra-bar as it builds.

· Most popular with traders who trade products that don't have as much momentum as other products. Such as Fixed Income or many stocks.

· Know when there is high interest in a price.

· Know how big of a stand traders are willing to take.

· You won't be fooled by orders that look like they traded but really didn't trade.

· Develop a feel for your market by recognizing when volume is picking up and when it's not. Similar to noise on the trading floor, as applied to electronic screen, this tool will let you know how and where the volume trades.

· Know how much traded at extreme prices. This is very helpful when prices are capitulating.

Volume Footprint®

Volume with Delta Color - This view has the same volume values as above except now the colors (red vs. green) are based on whether the price had a positive or negative delta. The shading is based on the level of volume traded.

2.3.2.4 Volume (Delta Color)

Color is based upon the delta for each Footprint and the shade

(darkness or lightness) is also based upon the delta. The values within each Footprint are the total volume for that price.

Preferences Setting

2.3.2.5 % Volume (Delta Color)

This shows the percentage of the daily volume done at each particular price. This will not be a useful Footprint periodicity when applied to short time frames. Below is a 30 minute chart. Notice at the bottom of each row it shows the % of volume for each 30 minute period. The color is determined by whether or not the chart has a negative or positive delta.

The percentages recalculate when a new bar is created.

Preference Setting

2.3.2.6 Footprint Profile

Footprint® Profile - This displays a profile or histogram of volume in whatever time frame chosen. The color of each Footprint® within each profile is based on the delta.

Delta is the net buy / sell pressure. Green represents a positive delta (buying pressure) and red represents a negative delta (selling pressure).

To watch a video recording that gives an overview of the Footprint® Profile or visit the Video Library.

· Click the 'FP' button at the top of the Footprint® panel to view.

· This Footprint® Profile will help you track areas of high interest among many participants in a nice graphical manner.

· Quickly track the high volume prices bar by bar to see if the market is attracting more participants at higher/lower levels.

· See the shape of each bar in any time frame to reveal clues to the underlying market structure.

· Popular view for those who are familiar with Market Profile® and allows a trader to

Footprint® Profile

Preference Setting

2.3.2.7 Delta Profile

The Delta Profile is similar to the Footprint® Profile except that instead of showing the volume distribution it shows a DELTA distribution. This shows us the levels of absolute delta for each price. All values, both negative deltas and positive deltas, are shown with absolute values. The way to read the graphic below would be if the bar is green it had a positive delta and if it was a red bar then it was a negative delta. The length of the bar represents how large the delta for that price was.

Using the Footprint® preferences menu, choose the General tab | Footprint Type | Delta Profile.

Strategy - Similar to the strategies presented in the Delta Percent Footprint topic.

Delta Profile

Preference Setting

2.3.2.8 Delta Percent

The Delta Percent Footprint® shows the percentage of volume that occurred on the dominant side of trading. It is essentially showing a ratio of bid traded volume and ask traded volume but only showing the % of volume that occurred on the most dominant side of the market. For instance, if the Footprint® is blue (in the graphic below) then it had a positive delta and the number shown represents the % of volume that occurred at the ask price for that particular Footprint®. If the Footprint® is red (in the graphic below) then it had a negative delta and the number shown represents the % of volume that occurred at the bid price for that particular Footprint®.

Using the Footprint® preferences menu, choose the General tab | Footprint Type | Delta Percent.

STRATEGY - A general method for utilizing this Footprint® would be to look for bars where the values are increasing in the direction of the trend. For instance, when price is trading at higher and higher prices, are the Delta Percentages increasing as well? This would serve to confirm that more and more volume is occurring at the ask price,

signifying the aggressiveness of the buyers to get into the market and provide key insight to when a market is beginning to come into equilibrium.

STRATEGY - Another strategy would be if the Delta Percentages are very neutral (between 50 and 60) at a breakout level, then the chances increase that the breakout will not hold and revert back within the range. The logic behind this is at breakout levels we expect to see volume become much more one sided and trade aggressively in the direction of the breakout. Failure to see large Delta Percentage readings at these key levels and prices should give reason to question the breakout.

Blog Post Strategy

Delta Percent

Preference Setting

2.3.2.9 % of Volume

This Footprint shows the percentage of volume traded at each price and the percentage of volume traded per bar (shown at the bottom of the window). This Footprint type will be better suited for longer time frames such as the 30 minute.

The percentages recalculate when a new bar is created.

STRATEGY: Look back at previous days to know what large volume is for a given bar. For instance, you may not the volume % for the first 30 or 60 min bars from past sessions and see how they compare to the

current sessions.

Preference Setting

2.3.2.10 Color Only

This Footprint type is does not display the volume or delta numbers and only shows the color associated with each Footprint. Works well when zooming out to see more of the day.

STRATEGY: One of the benefits of this Footprint is the readability. If you have adopted the strategy of following the high volume price

(shown below as the black outlined price) this view makes it very simple to track.

Preference Setting

2.3.3 Classic Footprint Buttons