POLL: Do you principally use a time-based, tick-based, or volume-based chart?

Do you principally use a time-based, tick-based, or volume-based chart?

  • Time-based

    Votes: 54 54.5%

  • Tick-based

    Votes: 27 27.3%

  • Volume-based

    Votes: 18 18.2%
  • Total voters
    99
Quote from Joe Doaks:

That is why EasySignal rocks!
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I am sure by 2015 tradestation will have sub-minute charts. They are on a upward trajectory.

You sure did get gabfly all excited about the 1 second chart.
 
Quote from bearmountain:

...You sure did get gabfly all excited about the 1 second chart.
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Actually, I think one-second charts are a little too close to the sun for me.
 
Quote from limitdown:

simply put,

time charts rule!
range charts attempt to relegate time to a secondary importance and sometimes become both comical and hyper-active

tick charts hide the essential element of volume as it has a role in the vehicle -- important in futures and currency trading applications

volume charts hide time, range and tick and relegate them to unimportant status, as when major participation arrives, then the frequency of a bar, candle or other line entry on the chart picks up to reflect that, however, this is only discernable in realtime (for it to be useful in trading). Another flaw in these intervals are the effect of plastering a chart with so many bars that whatever technical events are being searched for, will happen in a blur along with the blur of volume bars hitting the chart. That contributes to poorly timed trade entry and over trading to make up for mistakes from those initial trades.

net net net,

there is no peace,
pick one and learn it well
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For Bear, yes . . . I was on vacation and a wonderful 3 weeks it was. We saw 2 Sting concerts (his last in Saratoga Springs with front row seats was too cool). Spend 10 days in the Skaneateles area and then took our son on a historical tour of Gettysburg and Williamsburg. Finished with Hershey Park (what a disappointment).

LD,

I agree with your assessment of range bars.
I agree with your assessment of tick charts.
I do not agree with your assessment of the volume bars though. Time is embedded into the bars. You can create a cadence to the bars by increasing or decreasing the number of contracts or shares per bar. If you are getting too many bars then your charts are too fast. There is never a "blur" of bars if your charts are constructed based on the pace you normally trade; scalp (not recommended), fast intraday, slow intraday, fast swing, slow swing or position trading. Volume bars are the only naturally consistent way to view price action since the markets are traded one contract (or group of contracts) or one share (or group of shares) at a time. There is never a consistent correlation to the number of contracts or shares traded on any given minute or hour of any given day. Volume bars fine tune the timing of entries and exits they do not make them less accurate. Over trading of volume charting is specifically from trying to trade too fast of a chart.
There are many ways to profit from our charts and that is why I am married to your final statement . . . "pick one and learn it well". You can make money using all forms of chart bar set ups but only YOU can determine what YOU are comfortable using. Once you find your comfort zone . . . take advantage of it!
 
Quote from Joe Doaks:

You should never have started this thread. ProfLogic will be here in the next post to tout equivolume charting.
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Hey Joe,
Equivolume charting isn't the same as constant volume bars.
 
Quote from bearmountain:

PS. Interestingly tradestation and lot of other vendors don't offer sub 1 minute time charts...
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Tradestation is in their own world and will only offer what "they" think is relevant. Some of what they do offer (volume bars) aren't accurate to begin with.
Other vendors, for the most part, are too busy playing catch up to think far enough to into new inroads of their clients to be a viable option.
 
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