Time vs tick

[schweiz]

What does time have to do with sentiment?

Sentiment (or emotions) need TIME to change. Time is an essential factor.
A human needs time to adapt to a new situation. There is a reason why people say: Let me think.
To let him think he needs time to evaluate the situation.

 

[SunTrader]

I'm aware that this subject can lead to some controversy but here my experience....

That is your opinion based on your experience.

I differ.

Here's an example of time (equal legs time and price) in the ES overnight a couple of hours ago that another bar type might not have "seen". Just wish I was awake for it, but they happen often enough, for those that look for them.

:-

 

[kj5159]

I'm aware that this subject can lead to some controversy but here my experience. Any chart different than tick chart is doom to fail in regards to system reliability for the long run. This is cause it's simply a changing "base structure" cause arbitrary limits such as Time or Price distorts the real market microstructure; therefore it's impossible to think to have a "reliable" signal system based on this kind of data.

Inspired by this thread I've started back testing a Momo setup with volume bars rather than time bars and I have to agree, at least for intra-day trading. It becomes "event oriented", which the price book is since it needs trades to occur in order to move in the first place.

I'm not sure either way about a volume chart for longer periods, I think for equities a daily chart still has value.

 

[pstrusi]

That is your opinion based on your experience.

I differ.

Here's an example of time (equal legs time and price) in the ES overnight a couple of hours ago that another bar type might not have "seen". Just wish I was awake for it, but they happen often enough, for those that look for them.View attachment 189315 :-

Suntrader, don't get me wrong, for sure you will find out a lot of "time charts samples" with successful trends detection. It's the same situation for mostly all technical indicators expected rate: close to 50%, the same as tossing a coin ! and that's just my point. If you want to really find a new reliable strategy with successful rate > 50% in the long run, you may better work on non-changing market structure base. So far, the tick charts are the closest as I can get to this desirable database. Well, that's just my experience. Another final note that seems obvious: you should analyze and trade only on the data coming from your tradable venues.

 

[SunTrader]

Suntrader, don't get me wrong, for sure you will find out a lot of "time charts samples" with successful trends detection. It's the same situation for mostly all technical indicators expected rate: close to 50%, the same as tossing a coin ! and that's just my point. If you want to really find a new reliable strategy with successful rate > 50% in the long run, you may better work on non-changing market structure base. So far, the tick charts are the closest as I can get to this desirable database. Well, that's just my experience. Another final note that seems obvious: you should analyze and trade only on the data coming from your tradable venues.

Look again ... my chart has nothing zip zilch to do with trend. Time and price squaring is what is shown - and it is actually a counter trend move.

I meant to remove indicator window on bottom but actually it confirmed what time and price was showing.

 

[bone]

I’m a devotee of Steidelmeyer, and I agree with him that the quantity of TIME spent at a price is a reflection of the market’s acceptance of that price valuation.

Price data gets circulated far and wide amongst the masses - volume not so much.

 

[They]

Also a daily user of Market Profile. But I would not be to quick to discount Volume over Time.
See the charts below; one is ES 10K candles and the other is traditional MP 30 Minute.

When I am looking for a new 'Step 1' to occur, volume at price seems to always provide a more accurate launch point and more exact POC.