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FutTrader / footprint-system Public

A footprint reversal system to be used inline with

your market structure analysis.

MIT license

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README MIT license

P-B Footprint Reversal

System Study
Trading the stock market requires that you have
an edge over your competition; and in my
experience, being able to understand and read
order flow gives traders a HUGE edge. The
biggest drawback with order flow trading is the
heavy strain and stress induced from
deciphering the constant flow of the market. To
reduce that stress and add some HP back to
your life, I created an advanced custom study
that uses 4 condition triggers to help validate
your trades, improve entries and exits, and to
spot major reversals.

About the Study

The trading system credit goes to Adam from

JumpstartTrading and is outlined in his blog
post The Ultimate Guide To Profiting From
Footprint Charts. It is a very powerful method of
evaluation and all I am doing is automating the
process. If you want a more detailed
explanation of using footprint charts I implore
you to read his blog post. Below I will just go
over the evaluation method I used in my study.

Method of Evaluation
1. Compare the relative volume of the current
bar with the previous. We want the volume
to be increasing.
2. Check for Unfinished Auctions at the High
and Low of the bars.
3. Check for Buy and Sell diagonal
imbalances.
4. Check for p/b volume profiles by using bar
POC and comparing it with a user specified
bar limit.

Getting Started

These instructions will get you a copy of the

custom study up and running on your local
machine.

Prerequisites
Platform

Sierra Chart Package 5

Installing
Manually install Advanced Custom Study files
on Sierra Chart using SC forum instructions.

Download the DLL file and save it in your

SierraChart Data folder

e.g. C:\SierraChart\Data

Add the study to your Footprint Chart

Listed under: FootprintReversalSystem (Footp

Study Settings

In order for the study to work properly, you will

need to add the Numbers Bars Calculated
Study to your Footprint Chart as well. This
study has only been evaluated using Range
Bars for my Footprint Charts.

LN1 & 2: Alert Signals

Enable or disable alerts for buy and sell signals

LN3: Reversal Alert Number

Choose your audible alert number.

LN4: (CRITICAL) Input NumberBars2

After adding the NumberBarsCalculated study

into your chart, select the proper study ID from
the dropdown menu.

LN5: (CRITICAL) Relative Volume Study

(SG14)

Select SG14 from the dropdown menu. This will

provide access to the VolBarDiff array from the
NumberBarsCalculated study.

LN6: Draw Style Mode to Top or Bottom of

Bar

Once an alert is triggered, a transparent

rectange box will fill in that column. Select if
you want it to engulf the bar or stop at the
bottom of the bar.

LN7: Buy/Sell Imbalance Percentage

Threshold

This value is used in the comparison of the

diagonal Buy Volume with the Ask Volume.

LN8: Enable Zero Bid/Ask Compares

Set to No if you don't want to evaluate Bid or

Ask diagonal with a 0 print.

LN9: Zero Value Compare Action

Choose how you want to evaluate if you want to

compare with a 0 print value. Set 0 to 1 - Will
take the actual value of Bid or Ask and multiply
by 100 Set to +/- 1000% - Will set the Volume
Ratio to 1000.

LN10: Number of TICKS from High/Low for PB

Reversal

This study assumes that you are using a static

range bar chart. Depending on how large your
range bar chart is, select a value < MAX_TICK
to choose a limit for your volume point of
control evaluation. The denomination is in ticks.
A smaller value will give you a looser evaluation
of the p/b signals while a tighter one will give
less triggers.

Author

Patrick Senas - Initial work - FutTrader

License

This project is licensed under the MIT License -

see the LICENSE.md file for details

Acknowledgments

Adam from JumpstartTrading

Disclaimer

Refer to Risk Disclaimer

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