The first is clear – disappointment and skepticism due to not finding footprint charts useful.
In essence they are hoping the settings will ‘show’ them something with ‘edge’ straight out of the box.
Sierra charts wavebox how to#
To put it another way – there is no intuition behind what data they want to draw from the market and how to organise it effectively for edge. I will start this guide by specifically addressing new traders who are also new to Sierra Chart.Ī usual pitfall for this group is that they first load up the footprint settings and attempt to assemble a chart that ‘looks good’.
NB: The footprint study in Sierra Chart is referred to as ‘Numbers Bars’ Part One: Understanding the Sierra Chart Footprint A quick search within the excellent Sierra Chart documentation on their website is always a best practice when you are trying to uncover a niche setting. Only the most relevant settings to beginner and intermediate users will be explained. It will go over the footprint study settings so we know where to focus most of our attention and where to find all the ‘fiddly bits’ that add more quality features to your footprint chart.ĭo note, the second part is not wholly inclusive of all settings. The second part of this guide will then be more linear and intended as a reference. This will be done intuitively with descriptions along the way. The first part of this guide will take an existing footprint and break it down so that you can understand the different choices made when creating a footprint chart and its final results. While we will be unpacking the technical aspects of using the Sierra platform, it’s worth noting that we also offer a complete course on Footprint Trading Strategies. As always, breaking things down and reverse engineering is a powerful learning experience and it is just as useful when it comes to making the Sierra Chart work for you.Īs such, we will do the same here in this blog. Many new users end up having to jerry-rig their own footprints, scraped from different sources, slapping on some new paint and hoping that it works well. This is especially true of option dense studies with lots of user information such as the market profile, volume by price and the Sierra Chart Footprint. For new users the studies interface in Sierra Chart can look quite daunting.
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