Here are some annotated screen grabs I found from an early manual put out by MarketDelta on interpreting the Footprint.
Archive for February, 2011
Here is a trip down memory lane showing a bunch of screen grabs from the original version of MarketDelta which came out back in 2003. In many ways these graphics were better than the ones in the current version of the software.
The Footprint chart revealed some good reasons to go short at 1325 during the overnight session leading into today. Just after midnight, the evening rally came to a screeching halt as fresh selling energy entered the market. The Footprint shows these new trades on the Bid. You can focus on the numbers directly and see the clear imbalance between Bid (sell) and Ask (buy) volume, with the sell volume far outweighing the buy volume at the High of this pattern. But you can also see the pattern by just looking at the colors, which this MarketDelta chart associates with degrees of imbalance between the Bid and Ask.
The darker the red, the more of an imbalance in the direction of selling. At the High, most of the prices within the bar are red, including some deep red.