Feature In Focus - Footprint Charts
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Have you ever looked at a Footprint Chart and wondered what all those numbers mean and how to take advantage of them? In this video, we will take a look at how Footprints Charts can help you with your trading, giving you an information advantage over the traders using candlestick charts.
Look at Footprint charts, as a window that allows you to look inside a candlestick. A candlestick is only capable of giving you four prices, the open, the high, the low, and the close. Footprint charts, on the other hand, allow you to know the volume traded per price on the buy and the sell side. You know exactly at which price those buyers' and sellers' interest was.
With that information, you will be able to place your orders at price areas that have meaning to traders, where they put their hard-earned money at play, and not at random areas, usually, highs and lows that are randomly chosen depending on the time interval selected, 1 min, 5 min or 30 min.
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