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Order Flow Footprint Chart Types For Traders To Take Advantage Of The Information

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When trading futures, there is no single "best" chart type to use.

There are a few key reasons why futures traders have to choose the chart type that works best for their own trading style and personality:

1. Personal Visual Processing Humans visually process price information differently. Certain chart formats or visual configurations click intuitively for some traders but feel confusing to others. Finding harmony with how your brain perceives the charts is important.

2. Match Time Horizon Certain chart types work better for certain trading time frames. Intraday scalpers need to see the minutebyminute action, while long term position traders may prefer weekly or monthly charts. Match chart visuals to strategy horizons.

3. Level of Detail Needed Active shortterm traders rely on precise, ticklevel price data. But swing or position traders may prefer condensed range/volume bars that provide macro smoothing while still revealing reversals and breakouts. Chart choice depends on information needed.

4. Drawbacks of Each Type The noise on 1minute charts can be distracting. But range bars may obscure short term turning points. Experiment to assess if drawbacks obstruct or interfere with your decision process.

5. Personal Trading Style Trend traders want to see momentum and directional bias easily. But range and mean reversion traders need to identify horizontal support/resistance. Tailor charts to reveal your breadandbutter setups.

So in essence, chart type effectiveness correlates closely with the innate personal traits and strategic tendencies of the trader using them. The "best" visuals empower not hamper your own analysis process.

posted by buteljkyo