Market Delta by bolter
- Thread starter bolter
- Start date
- Status
Hi all. I'm a new user of MD and have really found this thread (and bolter's MP thread) helpful. Thanks to all that make it great.
I'm wondering if anyone uses the "Min\Max Delta rows" feature on their footprint charts. Something I've noticed is that in the case of a swing down, delta is normally close to or equal to the Min delta. Then you will notice the next bar makes a new low but the delta for this bar will jump up to Max delta or very close. This seems to be a good indication of at least a short term bottom. Same thing at tops.
I've attached an example showing ES trending down into low at 10:30 bar. Note how during swing down delta was pretty close to min delta each bar but at low bar at 10:30 the delta finished virtually at Max delta.
I'm wondering if anyone has noticed this and if so, how they are using it, if at all.
Thanks, Bill
I'm wondering if anyone uses the "Min\Max Delta rows" feature on their footprint charts. Something I've noticed is that in the case of a swing down, delta is normally close to or equal to the Min delta. Then you will notice the next bar makes a new low but the delta for this bar will jump up to Max delta or very close. This seems to be a good indication of at least a short term bottom. Same thing at tops.
I've attached an example showing ES trending down into low at 10:30 bar. Note how during swing down delta was pretty close to min delta each bar but at low bar at 10:30 the delta finished virtually at Max delta.
I'm wondering if anyone has noticed this and if so, how they are using it, if at all.
Thanks, Bill
pwstreet,
yes, i've noticed the delta min/max follow the swing as well. i don't use it to trade off, certainly not for an entry, but i do consider it if i'm nearing a target level or some other key reference level.
to me, MD simply serves to bolster my confidence (or not as the case may be) once i'm in a trade, and watching the min/max data is one of the MD variables i consider. when i first used MD i put too much stock into the delta column data, but after 9 months of using MD, i'm finally understanding how to use it.
imho, there is definitely an art to using MD, similar to tape reading...you can't just apply a one size fits all approach.
yes, i've noticed the delta min/max follow the swing as well. i don't use it to trade off, certainly not for an entry, but i do consider it if i'm nearing a target level or some other key reference level.
to me, MD simply serves to bolster my confidence (or not as the case may be) once i'm in a trade, and watching the min/max data is one of the MD variables i consider. when i first used MD i put too much stock into the delta column data, but after 9 months of using MD, i'm finally understanding how to use it.
imho, there is definitely an art to using MD, similar to tape reading...you can't just apply a one size fits all approach.
Bolter, thanks for the great thread and everyone else for sharing their thoughts openly. Here's a chart of today's setups. There was a loser to the upside...experience in gauging what the entire market is doing will keep you out of trouble most of the time. This can be accomplished by archiving previous charts and studying them in off hours.
I'd also point out that this was a trending day and even though the deltas weren't huge to the downside they never shifted to the positive side. Look at the triangle breakout. Great setup! Those are the ones that make the dough for the month.
This is a 15m TF so as a general rule always wait for entry after the delta shift has taken place and confirmed by taking out previous bar's hi (longs) or low (shorts).
Hope this helps.
Cariocas
I'd also point out that this was a trending day and even though the deltas weren't huge to the downside they never shifted to the positive side. Look at the triangle breakout. Great setup! Those are the ones that make the dough for the month.
This is a 15m TF so as a general rule always wait for entry after the delta shift has taken place and confirmed by taking out previous bar's hi (longs) or low (shorts).
Hope this helps.
Cariocas
Bolter...
Today Friday... Nov 10... is a great day to show the GuppyLine abuse...
SEE THE ATTACHED PICTURE GIF
i am avoiding the word pivot point... use any word for the line the floor picks... Bonzo Line, Bubba Line... anything...
On low volume days the floor picks a important S/R line (in this case it is Weekly pivot R1 but it could be a former high or low daily or weekly point...
Its just a line that a lot of intra day traders are watching and they (the inside paper) run it back and forth thru that line on a very low volume day... since the day is not and will not be controlled by outside paper (large volume)... so the risk is low...
so far they have done it 11 to 12 times...
a redundant thought...
so it is illogical trading to those exterior to the floor but it is logical and facilitating trade to those on the floor...
cj...
HAVE STOP <img src=http://www.enflow.com/p.gif> WILL TRADE
Today Friday... Nov 10... is a great day to show the GuppyLine abuse...
SEE THE ATTACHED PICTURE GIF
i am avoiding the word pivot point... use any word for the line the floor picks... Bonzo Line, Bubba Line... anything...
On low volume days the floor picks a important S/R line (in this case it is Weekly pivot R1 but it could be a former high or low daily or weekly point...
Its just a line that a lot of intra day traders are watching and they (the inside paper) run it back and forth thru that line on a very low volume day... since the day is not and will not be controlled by outside paper (large volume)... so the risk is low...
so far they have done it 11 to 12 times...
a redundant thought...
so it is illogical trading to those exterior to the floor but it is logical and facilitating trade to those on the floor...
cj...
HAVE STOP <img src=http://www.enflow.com/p.gif> WILL TRADE
- Status