Volume Footprint®
Heavy volume often comes into play at the bottom and top of trends. A trader who is long the market and is looking to exit can find themselves caught up in the stampede to get out with the rest of the longs when the market turns. Shorts join together when the market rallies to a point of capitulation. Inevitably the top or bottom of trends is where heavy volume often presents itself. Volume Footprint® allows traders to see how & when heavy volume (as well as light) leaves its mark on price by providing better price transparency. This is what sets it apart from a volume histogram. Volume histograms do not segment volume to price over any time frame or chart type you desire. The Footprint® does.
The Volume Footprint® helps the trader apply knowledge of traded volume to price action and patterns. There are two buttons labeled "Vol" at the top of each Footprint®. The purple button shows total volume at each price and is shaded based on how much volume traded at each price. Dark Footprints® mean heavy volume; light Footprints® mean light volume. The dark blue button (sometimes green depending on color schema) shows total volume at each price but is shaded according to the delta for each price with the number in each Footprint® being the actual volume traded at each price.
If this is of interest, also check out the Footprint® Profile chart.
Learning Opportunity! - To learn more about the Footprints® click below. It is a short 6 minute high resolution recording to teach you more and assure you get the most out of MarketDelta®.
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