Please note that the this indicator does NOT include a Footprint chart indicator which you see in some screenshots. The Orderflow Footprint Delta Candles indicator will work on any chart and does not require a footprint indicator
The Orderflow Footprint Delta Candles
Unlock trading success with the Orderflows Footprint Delta Candles Indicator! Say goodbye to the tedious task of analyzing min delta, max delta, and delta numbers in footprint tables. Our innovative solution presents these crucial metrics as candles beneath the chart, making it effortless to determine who's controlling the market – buyers or sellers.
During absorption periods, observe small delta candles signaling a power balance. But watch out for the significant delta candle flare-ups that often follow - they're your cue that the control has shifted. The moment buyers or sellers step in, you'll see it, you'll know it, and you can act on it instantly.
With the Orderflows Footprint Delta Candles Indicator, reading order flow has never been easier. Don't just trade, thrive - follow the footprint trail to a profitable trading future.
Shows delta as candles
Shows delta candles below the chart based on the delta, min delt and max delta
Spot absorption breakouts
Watch the delta candles and see sudden increases in delta right before price starts to react
Spot end of the trend
By reading the delta candles we often get a clue that the trend is over and that a reversal of pullback is likely to happen
Bar Delta Divergence
Shows when there is a divergence between price and delta
Highlights candles which close at their min/max delta
Special colors when a bar closes with its delt at the max or min delta
Exports plots which you can use to build your own delta strategies
Using delta candles during absorption
Please observe the screenshot provided. The market initially exhibited a bullish trend, characterized by green price bars and blue delta candles.
However, there are two subsequent bars that indicate absorption. Notably, during these two absorption bars
- the trading volume was significantly high.
- Additionally, the value areas overlap
- the point of control (POC) remains relatively stable at the same price level.
- The delta candles reveals that following a series of large blue delta candles, the two absorption bars display lower delta values and a slight negative trend.
This suggests a shift in market sentiment. The situation intensifies with the arrival of the third bar, which is accompanied by prominently negative delta candles. This indicates a significant change in the market dynamics, signifying an opportune moment to initiate a short position.
How to use delta candles to spot the end of the trend
In the following screenshot, we encounter another example. This time, the market is clearly in a downtrend, and a big negative delta candle appears, bigger then all preceding delta candles within this downtrend. Naturally, one might anticipate the price to continue downward. However, it is crucial to observe what unfolds in the subsequent bar.
What happens is that two positive delta candles appear, suggesting a bullish signal. However, it is plausible that this could merely be a minor pullback before the prevailing trend resumes.
But then the 3rd bar shows a small bearish delta candle, one whichis considerably smaller than the big negative we saw before.
Now if you think of this.. if we expect price to continue to go lower. Would we nog expect sellers to come in and create a larger negative delta candle ?
Instead we get two positive candles followed by a small negative delta candle. This serves as a clear signal that the market dynamics have shifted, and we can anticipate a pullback or even a reversal in the trend. Subsequently, as anticipated, such a pullback or trend reversal does indeed occur in the subsequent bars.
Bar closing at its min/max delta
A bar closing at its max delta is typically considered a bullish sign. This is because it suggests that there was substantial buying activity during that time period, with the buying volume exceeding the selling volume. This can indicate that buyers are in control and pushing the price upwards, which might result in a continuation of the bullish trend.
Conversely, a bar closing at its min delta suggests a bearish sentiment. It indicates that there was significant selling activity during the time period, with selling volume exceeding buying volume. This might suggest that sellers are in control and driving the price downwards, potentially leading to a continuation of the bearish trend.
All other (normal) bars are shown with green or red color
Bar Delta Divergence
The indicator will show a small circle above or below bar when there is delta divergence
Delta divergence happens when there is divergence between price and delta
Bullish delta divergence
- green bar with negative delta
Bearish delta divergence
- red bar with positive delta
Bloodhound / Automated strategies
This indicator exports32 which you can use in Bloodhound*, Ninjascript or your automated strategies:
* Note that Bloodhound does not support tick replay. There fore you cannot use bloodhound in combination with this indicator for any historical trades. Real-time trading will work fine
|Delta||The bar closing delta|
|MinDelta||The bar min delta|
|MaxDelta||The bar max delta|
- added separate color for candle wicks.
- fixed issue with candles not rendering when show delta divergence was turned off.
- initial release.
For traders, by traders
We are just like you. We like trading the markets every day.
And every day, the market teaches us something new. Besides this, we also get a lot of feedback from our customers. We take all this information and ideas to further continue to develop our indicators. And if you bought it before.. then ALL future updates will be free. How's that for a change ?
So far.. we added 23 new features since the first release in may 2021
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