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Go Charting Order Flow Lesson 1

This document is an introduction to order flow trading on the Gocharting platform. It discusses the benefits of using a footprint chart over a candlestick chart, including seeing areas of hidden support and resistance and understanding the market in terms of what is trading. The document also covers benefits of using volume, different types of traders, and how order flow can provide insight into where major positions are being placed.

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boons5141
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49 views22 pages

Go Charting Order Flow Lesson 1

This document is an introduction to order flow trading on the Gocharting platform. It discusses the benefits of using a footprint chart over a candlestick chart, including seeing areas of hidden support and resistance and understanding the market in terms of what is trading. The document also covers benefits of using volume, different types of traders, and how order flow can provide insight into where major positions are being placed.

Uploaded by

boons5141
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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GOCHARTING

ORDER FLOW
TRADING COURSE
Lesson 1
Introduction To Order Flow on Gocharting
By: Michael Valtos
Orderflows.com
Welcome to the Introduction to Gocharting Order Flow Trading
Course.
Gocharting is a web-based charting platform that has a great
footprint chart and other order flow tools, some of which I haven’t
seen on other footprint software.
Bar chart
An order flow footprint chart is a dramatic shift away from a
normal candlestick chart that traders are familiar with.

While candlestick charts are based on the relationship of the


open, high, low, and close. The footprint chart takes it much
deeper by showing the relationship between buyers and sellers in
bar by adding the volume that is traded.

Now traders can see price levels where there was imbalance in
the market. Price levels that were defended. Price levels that were
rejected. And so much more as you will learn throughout this
course.
Bar chart
Time and sales
Time and sales
Footprint chart
Footprint chart
The benefits order flow provides you in trading.

See who is in control right now.

See areas of hidden support & resistance.

Understand the market in terms of what is trading as opposed to


where it has been.
Market going sideways
When you add delta…
Add imbalances
The difference between price charts, depth of market, limit order
book, and footprint charts.

Most traders use price charts. But price charts leave put the most
important piece of information – volume. Volume tells a trader so
much – market tempo, market strength and weakness, momentum.

Depth of market and the limit order book show orders going in
and out of the market, but not necessarily traded.

Footprint charts show what traded and where it traded. How are
market traded at a price is much more important than just
knowing a price traded.
Time and sales DOM
Benefits of using a volume footprint chart.

Four types of trading:


Passive buying.
Passive selling.
Aggressive buying.
Aggressive selling.
Where are the passive traders? Aggressive traders?
Knowing where the aggressive traders and passive traders are
active gives you an edge.
How human behavior affects the market and how you can predict
the next potential move.

Technical indicators don’t move a market. Markets don’t go up or


down based on a mathematical manipulation of price which is
what most indicators are. Markets move because traders get
aggressive, they cross the bid-ask line and start buying all the
offers or sell all the bids.
Order flow is the market.

The reality is order flow is the market. It shows trader’s


commitment to a position, in other words to a market. Knowing
where traders put on major positions is key to knowing where they
can feel heat when the market starts to move against them. You
have insight that you just don’t get from looking at price.
This concludes Lesson 1.

In Lesson 2, you will learn about the three foundations of order


flow: delta, point of control, and imbalance. What they are, why
they matter, and how to use them.

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