Footprint Friday - Intro to Real Time Support & Resistance
Last month MarketDelta released a game changer for traders - real time support and resistance levels based on volume and order flow. They are called Edge Zones™ and sometimes referred to as EZ Levels™. They signal real time support and resistance levels based on unique volume and order flow patterns seen only on footprint® charts. That last time MD released something this big was the imbalance footprint. You've got to check these out!
Before I get into the details, MarketDelta did held a webinar a few weeks ago that provides a demo of EZ Levels™ and show examples.
What are EZ Levels?
They are real time support and resistance levels that draw on the chart the moment they are identified. As the market trades, these levels draw on the chart. These levels give you the trader an awareness that you probably never had before. And because they . The levels continue to extend across the chart until they are deemed "complete".
Where can I Learn More?
- EZ Levels are discussed daily in the MarketDelta Trading Room. Get a free trial here.
- There are 2 full videos dedicated to EZ Levels in our Footprint Deep Dive course.
- Follow MarketDelta and this blog on social media for examples and webinars.
- Common Edge Zone Questions FAQ.
How Do I add EZ Levels to a chart?
Right click the Footprint and choose "Modify FP"
Click under HiLitIt to open the Specify Highlights for FP window.
Add BOTH "Buy Imbalance" and "Sell Imbalance" to the right side and configure similar to what you see below. Checking the "Extend" box will extend the EZ level across the chart, creating realtime support and resistance.
Click >>> under More to setup study parameters.
- Threshold is a % and can be similar across instruments.
- Min Diff is volume, so EACH SYMBOL will require different setting based on the amount of volume it trades and the time frame of chart you are viewing. We recommend experimenting with different values. Email us if you need suggestions. support at marketdelta.com.
Click Apply then Close.