Volume Based Charts Request for HELP

B

brownsfan019

As a result of a couple great threads here and some friendly traders, I have been using Volume Based Charts (aka Share Bar Charts) in my trading. It has helped tremendously.

Today however, I noticed something on TradeStation that got my attention...

2pyowll.jpg


As you can see, this is an EC chart set at a 500 interval. All the parts highlighted in yellow represent a candle that is over the 500 setting, which defeats the purpose of having a volume based chart up.

So, I am asking for help of those using something other than TS for charting - if you could be so kind as to first see if your charting platform supports Volume Based Charts (aka Share Bars) and then add a volume histogram to the bottom of it and see if the volume is nice and uniform or if it is like my pic above. Please post all feedback here so we can help each other out!

Thanks!!!
 
Tradestation and some others - like eSignal and NeoTicker - add the volume just arrived to the current bar and then check whether they have to make a new bar.

This way you may get bars with volume well over your threshold. Depending on your threshold this may be ok or not.

In my case, I don't bother.

Regards

Bernd Kuerbs
 
TradeStation has Volume or Share Bar charts BUT the missing word is "constant". Despite many requests and enhancement suggestions, TradeStation continues to use uncapped volume bars.

This bar may be 520, the next bar may be 480 etc. etc. depending on how the datafeed comes in. It averages out to 500 contracts per bar I suppose but the end result is you wind up with about 20 percent fewer bars on a daily basis. This results in "inaccurate" oscillator indications compared to someone who is using constant volume bars.

I am a long time TradeStation user but had to buy Multicharts to get constant volume bars. I drive it with the TradeSTation datafeed and everything works fine.

There may be other charting programs that also have constant volume bars (Ensign for one) but I am not aware of all of them.

Hope it helps.

HM



Quote from brownsfan019:

As a result of a couple great threads here and some friendly traders, I have been using Volume Based Charts (aka Share Bar Charts) in my trading. It has helped tremendously.

Today however, I noticed something on TradeStation that got my attention...

2pyowll.jpg


As you can see, this is an EC chart set at a 500 interval. All the parts highlighted in yellow represent a candle that is over the 500 setting, which defeats the purpose of having a volume based chart up.

So, I am asking for help of those using something other than TS for charting - if you could be so kind as to first see if your charting platform supports Volume Based Charts (aka Share Bars) and then add a volume histogram to the bottom of it and see if the volume is nice and uniform or if it is like my pic above. Please post all feedback here so we can help each other out!

Thanks!!!
More...
 
Yeah, I found that out the hard way! lol.

Why TS can't even offer constant volume bars does not make sense at all, but a lot of these vendors can frustrate the hell out of you.

Thanks for the info guys, I am looking at Multicharts now.
 
Esignal's constant volume charts are produced correctly. I was told that were correct a few years ago, then esignal changed them at some point (i.e., not to split ticks), and then they changed them back.

Note volume in the bottom panel.
 

Attachments

Just a few things you might not pick up immediately about MultiCharts:

On the pro side:

It appears to be a TradeStation clone....you will find the chart screens amazingly familiar....learning to use it is simple for anyone with TradeStation experience.

You can readily import all your TradeStation ELA, ELD studies etc..

On the con side:

No documentation to speak of - however, they are helpful by email and there is a forum that the Multicharts guys monitor where questions are usually answered in a timely manner.

The latest version is a HUGE improvement but it is still a resource hog when compared to TS. My processor fans scream if I try to load more than one chart a time and I run a dual core processor with 2G of RAM. Once all the charts are loaded, it is stable and no resource problems for the rest of the day.

They used to and may still offer a 30 day trial so you can kick the tires which I highly recommend if you don't have a hot CPU.

Best,

HM


Quote from brownsfan019:

Yeah, I found that out the hard way! lol.

Why TS can't even offer constant volume bars does not make sense at all, but a lot of these vendors can frustrate the hell out of you.

Thanks for the info guys, I am looking at Multicharts now.
More...
 
Hello brownsfan019,

10 different people will hold 11 different opinions when it comes to data feed and charts.

Personally after 11 years in this game I am more than happy with the IQ/Ensign setup.
 
I appreciate all the help guys. I was frustrated to find that the TS charts were not what I thought they were and there was nothing I could do about it at TS. I just got off the phone with their tech support and they confirmed there's no way to get constant volume bars.

Multi looks nice - a TS clone as someone said, which is nice for ease of transition.
 
Quote from brownsfan019:

I appreciate all the help guys. I was frustrated to find that the TS charts were not what I thought they were and there was nothing I could do about it at TS. I just got off the phone with their tech support and they confirmed there's no way to get constant volume bars.

Multi looks nice - a TS clone as someone said, which is nice for ease of transition.
More...

Stay away from Multi. Programmed by Russians, probably owned by them too.

I use constant volume on TS and my bars are very constant. Pick a share amount and put volume bars on and you will see.

You problem with TS is more than likely due to how you have volume set up under "format symbol". Make sure it is set to trade volume and not tick count.

If you use tick count the volume bars that you look at in another pane will should the tick count and not share volume so it looks inconsistent.

John
 
You must log in or register to reply here.
Back
Top