Why do people use Volume, Range and Tic charts?

[fearless9]

I have noticed that people reference to odd (strange) sized tic charts.

17, 55, 89, 317, 610 to name a few.

They obviously know something that I dont know and I would be interested to read the reasoning behind these carefully selected bar sizes.

 

[5Pillars]

I came up with the 317 tick chart through testing to get my "speed of signal" in the range I wanted. For my choice it had to do with the overall running average time per bar intra-day, in context of the speed or frequency of the "volume breakdown" MD indicator I use.

I guess you could say it was developed from trial and error, until I found a tick level that was consistently perfect for me to "read" signals from.

 

[Bernoulli]

Some people use fib numbers in the misguided belief that there is some hidden order to the trading universe. Others do it to fit a certain amount of data onto screen real estate or to smooth out price display.

 

[5Pillars]

A 380 tick chart is good too........ 19.5 X 19.5 = 380.25 (380 is good enough ).

Also the 330 tick chart (33.0 X 10.0 = 330).


Don't ask me why 19.5 and 33 are VERY significant numbers.

 

[fearless9]

Quote from 5Pillars:

A 380 tick chart is good too........ 19.5 X 19.5 = 380.25 (380 is good enough ).

Also the 330 tick chart (33.0 X 10.0 = 330).


Don't ask me why 19.5 and 33 are VERY significant numbers.

You are drowning me in detail 5P.

If you are refering to ES ( which is the only instrument that I know), the tic bar is going to be more relevant to the time of day than some magic set of numbers.

At 09.31, you could not tell a 317 from a 330 tic bar.

 

[5Pillars]

Don't worry about the details........I was just having some fun with that post.

 

[nkhoi]

1) because others use it, 2) we try to front running the guy using regular chart

 

[fearless9]

Quote from nkhoi:

1) because others use it, 2) we try to front running the guy using regular chart

2) Agreed. But then you would expect to see numbers like 291, not 317.

 

[5Pillars]

No...317 worked and 291 did not.

 

[NZDSPeCIALISt]

Tick chart settings I have used (use) and/or know of:

1,3,5,8,10,13,20,21,30,34,50,55,74,75,89,100,108,126,133,144,150,191,233,250,300,377,500,610,750,
987,1000,1500,1597,2584,3000,4181,5000,6765,10000.

They all work.