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There are different types of order flow footprint charts available to traders:
the normal bid/ask footprint, the delta footprint, the volume footprint and the diagonal delta footprint. Each type of chart provides traders with ways to take advantage of the market.
The delta footprint is an incredibly useful order flow footprint chart for traders. It tracks the changes in market orders, allowing traders to identify changes in buying and selling momentum. A properly utilized delta footprint chart can be a powerful tool for spotting potential profitable trading opportunities. For example, when the delta bars are clustered around one side of the bar, it indicates a possible shift in trend direction that could be a great time to enter into a trade. Understanding how to read and interpret the information provided by the delta footprint chart takes some practice but is well worth it for traders looking to take advantage of short-term market movements.