Footprint Charts for Price-Level Volume Delta and Order-Flow Signals

Summary

This document describes an MT5 footprint indicator that breaks higher-timeframe bars into price-level activity using lower-timeframe tick or real-volume data. It calculates buy-versus-sell volume delta and displays features including point-of-control highlighting, stacked imbalances, absorption, and unfinished business with live mitigation. It also supports automatic timeframe selection and alerts evaluated on completed bars to reduce repeated intrabar notifications.

The guide covers installation and display settings, including hiding background candles, adjusting column width, and increasing the rendered lookback. It notes that the terminal may need time to download lower-timeframe history before calculations are available. The document provides no validation of delta estimates, signal performance, or alert quality; results depend on the underlying broker feed and available volume data, so the indicator should be treated as an order-flow visualization rather than evidence of a profitable strategy.

Key ideas

• The indicator derives price-level volume delta within larger bars from lower-timeframe data.
• It highlights point of control, stacked imbalances, absorption, and unfinished business.
• Alerts are based on completed bars to limit repeated intrabar signals.
• The display can be adjusted for chart zoom, candle visibility, spacing, and lookback.
• The document gives no performance validation, and calculations depend on the available historical volume data.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.