Computer software
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After clearing all the deafalt settings and starting with a blank template. Click on the Top left corner. ( Application settings)
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In the settings click (Add-Ons)
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In the Add-Ons Activate (Tick Stream, Market Replay, Order Flow+, Free Indicators & Advanced Charting)
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Go back to your blank trading dashboard. At the top left click on the plus sign marked
(Add Modules)
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Drage and drop (Charts) in the middle of the blank work space.
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Select the Futures instrument you wish to trade. ex ES Mini S&P 500 futures contract.
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On the charts top left in the menu. Click on the (Settings) Symbol & delete all the indicators that appear. Unless of course, you wish to use bullshit indicators.
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Click on (Indicators)
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In the drop down menu under (Indicators) Type VWAP & a tag called
" Explore Community Indicators" should manifest in the menu. Click on it.
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This screen should appear. Search for the VWAP tool you wish. Then go back to the chart and find your tool for VWAP.
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In the (Indicators) Type VWAP and it will appear then select it.
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After you selected it. It should appear.
This is the most basic Indicator Volume Wade Average Price.
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Now click on the ( Time Period) & select 30 min.
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Now click on the ( Configure Chart Elements) & select the contract instrument you are going to be trading. ex ES Mini S&P 500 Futures contract.
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Change the Candle stick bullshit to TPO then click Apply and save.
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In the area marked (Session #1) Set the time to your local time of the market Regular hours
Market Open and Close.
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The last session represented the regular open market trading hours. This session represents after-hours trading. So again align it to your time zone. Also, select the small case "a" to start this session.
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Scroll down to TPO & change the 70 % to 68 % in the value area.
Do this for the Volume profile aswell. it is located under the TPO.
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At the bottom change the (minimum number of bars to load) to 219.
You can also change the colour that you want its your preference.
Hit (Apply & Save)
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Now you have a chance to be able to actually read market value. TPO " Time Price Opportunity" is a bell curve distribution that measures Time Price & Opportunities. This is accompanied by Volume Profile you can see it to the right of each profile in dark and light blue. Each pare of TPO & Volume Profile represents one day and each letter represents a half-hour time period. Candlesticks are for losers. James Dalton is the king of TPO. learn from him and you could have a chance to understand this science. He's got lots of free material. I never paid to learn this. Here is a link. https://www.youtube.com/@jdaltontrading
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Now click (New Tab) in the top left of the chart.
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Select the same instrument contract. ex ES Mini S&P 500 futures contract.
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Click on (Configure Chart Elements) & select the same instrument that you used for the TPO chart.
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In this the second chart you are creating, change the TPO to (Bid x Ask Volume)
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On the right change Bid x Ask Volume to (Imbalance) & (Imbalance Filter to 2.6. for the ES Mini S&P 500. I use 2.5 to 2.8 depending on the market conditions. IMPORTANT! This must be custom to all markets and is adjustable for different market conditions. this comes with experience.
Hit (Apply & Save)
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Now you have even more of a chance with this "Footprint Bid x Ask Volume IMBALANCE Chart. Remember Candlestick charts are for Losers.
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Now you need to adjust the default frustrating setting so the chart goes to where you want and does not auto-adjust. when the market is moving fast it is nice to have auto-adjust but most of the time it is so Fu*king stupid.
So go to (Chart Settings) in the drop-down menu and click on (Continuous Autofit)
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Change it to off.
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Now Open another chart by clicking (New Tab) at the top left.
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Select the same contract you are trading. ex ES Mini S&P 500 Futures contract.
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Select Configure Chart Elements & click on the contract you are trading.
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On the right change the Imbalance to Delta.
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Now you have a Delta Footprint chart. Great start.
It is important to remember that Candlestick charts are for fools. Don't be a Fool.
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At least one screen should be running all three beside each other. you can drag and drop the tabs to view them all concurrently. Ok. So that was fun. Now WTF is all this Sh!t.
The TPO will be set up to identify the areas in which you will be doing business or the battle grounds where the action is most likely to take place. for the lesser-versed trader "support and resistance" levels. (High and Low Volume nodes of trade).
The Footprint Bid x Ask Volume Delta allows you to identify the market direction and reversals.
The Footprint Bid x Ask Volume Imbalance chart will zoom into the battle zones and help identify a new leg of acceleration to a trend or a reversal by tracking the volume of buyers vs sellers. When you see an imbalance of buyers to sellers clarity to direction strength can be identified.
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I use a professional trading wall with 12 big-screen TVs and projectors.
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Now you need to add your DOM "Depth Of Market" trader. This is where you will be able to view all of the limit orders in the market live. This is a powerful tool that allows you to view order flow.
Some traders only use this in their trading. All of the other tools I have introduced will bring you to a finer point of entry & exits. Where then only order flow will be relevant and become clearer in understanding the market context for every trade. This will also help with bracket or OCO orders so you can better manage your risk.
First drag and drop the three charts back to one tab so that only one can be viewed at a time.
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Click on the top left plus sign (Add Modules)
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Select Supper DOM by dragging and dropping it in the work space area.
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Select the contract you will be trading. ex ES Mini S&P 500
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Click on the (View Settings) in the top right of the DOM.
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Select (Show Histogram, Show Stacking & Pulling.
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Slide the column to your preference. Keep in mind that a large column for the histogram will help you visualize it better.
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Now last but not least. Add the TAP " Time & Sales.
Click on the top left plus sign (Add Moduials)
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Drag & drop the T&S to the work space.
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Select the contract you will be trading. ex ES Mini S&P 500
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Now you really have a Fu*king chance at reading the market value.
This will allow you to view all the orders being transacted via real-time and helps you see who is in control of the market as well as market Tempo