Thursday, May 21, 2009

More Uses of the Market Delta Footprints



Hi guys,
I have two really nice charts to show you today. I added a new chart yesterday. I got the idea from the webinar at Market Delta yesterday with Kam Dhadwar. The new chart is a 10000 Volume Candle Chart. MD will have the video posted shortly on their web site and I will also post a link. Totally worth watching.

Check out the video for the specifics on the chart. It is just a Volume Breakdown set to a 3 bar average of Delta (Histogram) and a 2nd VB set to 5 bars (line).

It seems like a useful addition to my screen set up especially to make it easier to see divergences. I have used it to my benefit several times today. It is just a different view. It is very easy to read and I already feel quite comfortable with it already.

Multiple views of Delta are very useful. Sometimes one chart tells the story more clearly than the others.

I hope it helps,

MG


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7 comments:

  1. AnonymousMay 22, 2009 at 3:33 PM

    Hi MG, great blog...Here's a link that might give you some more ideas on using the VWAP with sd's.

    [url]http://www.traderslaboratory.com/forums/f30/best-tl-2954.html{/url]

    Its the " Trading with market statistics thread "

    Keep up the great work and thanks for sharing.

    ReplyDelete
  2. MGTraderMay 22, 2009 at 5:18 PM

    Hi Eman,
    Thanks so much. I couldn't get to that page with link. Could you please post the name of TL post and date so I can find it.

    MG

    ReplyDelete
  3. AnonymousMay 23, 2009 at 3:40 AM

    If you goto the 'Best of TL' sticky in the beginners forum, a user by the name of jperl has a bunch of threads about vwap,sd's, and vpoc's trading. Imo, these strategies along with footprints and delta become very powerful tools.

    ReplyDelete
  4. micMay 24, 2009 at 12:24 AM

    Hi MG and eman,

    I went over jperls threads 2 weeks ago and I am trying to incorporate those ideas into my trading plan. Well worth the time invested going through all 11 threads try googling "Trading With Market Statistics - Links" it's a shortcut thread but you'll have to register to view anything on TL... MG, I am also up for a discussion if you want the shorthand version from my perspective.

    Question about the l2st vb momentum indicator... Is the 3 bar average also set to delta momentum?

    Thanks,
    mic

    ReplyDelete
  5. MGTraderMay 24, 2009 at 9:42 AM

    Hi Mic,
    Yes please, lets talk about your perspective on Jerry Perls work. Yesterday, I watched the videos for the first time in a year. Not totally sure how I will use the information, so a discussion will be nice.

    As to the L2ST indicator, both the 3 and the 5 bar average seem to be set to delta momentum. That is how I have it set up. I got a really nice email the other day from Kam (of L2ST). He told me that delta momentum chart was his primary chart for trading the ES and and described the VB Divergences as "shockingly accurate". I have certainly been appreciating their benefits.

    Be well,

    MG

    ReplyDelete
  6. micMay 24, 2009 at 10:53 AM

    Hi Bryan can I get your email addy I couldnt find it anywhere. I think a discussion via email would be best.

    Thanks
    mic

    ReplyDelete
  7. MGTraderMay 24, 2009 at 11:14 AM

    Mic,
    Sure. I can be reached at drbjstern@gmail.com

    MG

    ReplyDelete

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