We would be having our new look OrderFlow charts live from tomorrow's session.
These charts would have all the basics from the previous charts but with an added emphasis on cumulative delta as we look to go deeper inside the volume candle which makes our markets tick.
Here's a look at the charts and I'll come to the actuals in a bit.
Nifty :
BankNifty :
USDINR :
Gold :
Silver :
Copper :
Crude :
Natural gas :
The MCX session opened late on friday and the IB period was not considered off that open and hence is more smaller than normal .
The big change in all charts is the shift from volume candles to the traditional renko candlesticks.
I want to emphasize here that we do not intend to use the advantages or disadvantages of renko in knowing our markets, but the intention was to project price to a scale which was not time dependent. We used volume bars earlier and will use renko now to stay independent of measuring the markets in scales of time based periodicities.
We have added a volume pane at the top to still see the volume flowing in the market for these candles.
The top most pane is delta which is the net difference between volumes collected on upticks and volumes collected for downticks.
The rest of the things in the charts including vwap, dpoc, values areas(past and present) are the same.
To explain these charts better and to answer queries if any I intend to hold a webinar in the trading room tomorrow at 11.15 am explaining all the ingredients of the charts and the reasons for them being there.
I plan to keep it simple and 2 way with an open agenda to talk and discuss these charts.
I will send out an email on the same to all.
See you in the room tomorrow.