KC and the Sunshine Band said it and it applies to my search for how to use the volume and order flow information better in my trading. MarketDelta lets you look inside the bar at the volume traded at each price both on the bid and the ask. I started using MarketDelta for two reasons: It was a toolbox that everything I needed all in the one application, and, it had the Footprint and variations of it. I heard some people were making good use of it but every time I looked at it, it just confused me and took my attention away from what was important.
After a few number of weeks, I came up with a type of Footprint that is like a mini Profile. I have applied it to my regular range bars but it lets me look inside each bar as it is developing a little bit better than just the VB. It adds another piece of information. I look at what is happening at the actual price as it hits support and resistance to see the likelihood of the support or resistance holding. I am trying to be even more aggressive in my entries and get in one bar earlier. It will also help with the outside in trades which we will look at down the road a bit as Kiki gets more settled in her inside out trades. This is how I configured it in MD. I know not everyone is using MD and I don't know yet how much benefit this will really be but we can find out together. Anyway, the posts will only show the candles but you should know that I (not Kiki) am seeing the information from inside the bar. Just for today I have posted both versions FYI.
We are only a few months into Kiki's live trading and she is doing terrifically well. To achieve consistently green weeks in such a short time is very gratifying not just because of her achievement but because of the joint effort we put into this. She doing her part in working very hard and me putting a program together that helped her succeed. We both needed to be right for this to work.
As the next step, we have added an outside in trade to Kiki's trading plan. You can see it as Trade 2 in the attached chart. Her criteria is the 45CCI turns down outside the Keltner and above 200 ish. It must also have volume divergence, that is, a higher high but VB red or lower low but VB green. This setup happens often enough to make it worthwhile watching for and is a very high percentage trade unlike some of the other outside in trades. The trade works without the VB divergence but its a lower percentage.
Today's trades are below. The morning trades were fairly straight forward, the RTH started with Trade 5 which was a short, leaning on the VAH. After a false start, Trade 6 went and bounced off the POC and back to the horizontal EMAs.
As the next step, we have added an outside in trade to Kiki's trading plan. You can see it as Trade 2 in the attached chart. Her criteria is the 45CCI turns down outside the Keltner and above 200 ish. It must also have volume divergence, that is, a higher high but VB red or lower low but VB green. This setup happens often enough to make it worthwhile watching for and is a very high percentage trade unlike some of the other outside in trades. The trade works without the VB divergence but its a lower percentage.
Today's trades are below. The morning trades were fairly straight forward, the RTH started with Trade 5 which was a short, leaning on the VAH. After a false start, Trade 6 went and bounced off the POC and back to the horizontal EMAs.
Click to enlarge
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