Why do people use Volume, Range and Tic charts?

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Quote from Thom64:

Greetings,

Thanks again for your input,I used your suggested parameters for todays shortened session.I must say that it made a huge difference in my ability to navigate the session.Hit target within first hour,doubled that by noon.

I hope to be able to add some positive information to a great thread.Thanks to all here.The comments about desktop layout makes alot of sense,and likely looked over by many,myself included.

cordially Tom
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Look forward to your input Tom.
 
Informative thread (thanks to the professor and others that contributed). The website linked below, has a comparative illustration of charts using: constant price range bars, constant time range bars, constant tic range bars, and constant volume range bars:

http://www.ensignsoftware.com/tips/tradingtips49.htm


Apart from ensign, I'd appreciate it if someone can list charting software that offers all four of these bars, thanks.
 
While this thread started off in tic charts, it has lead us into volume charts and now volume is stablized it enables us to better see price action. Gracias Prof.

IMHO there can be no meaningful discusion on price without the inclusion of volume ( where volume is available) and it looks like it is coming into Fx next year.

Next week maybe we can open up this thread a little to include volume studies.

ie What happens when you multiple Close by bid vol and also close* ask volume and plot them in the same window. Use stair step plotting if you have it available.

It is all food for thought and this is a thinking person's game.

Enjoy the weekend.
 
Quote from Karma Yogi:

Informative thread (thanks to the professor and others that contributed). The website linked below, has a comparative illustration of charts using: constant price range bars, constant time range bars, constant tic range bars, and constant volume range bars:

http://www.ensignsoftware.com/tips/tradingtips49.htm


Apart from ensign, I'd appreciate it if someone can list charting software that offers all four of these bars, thanks.
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FWIW, Range and time bars are worthless.
Ensign is ok but if you are an uber-trader be careful. There is a memory leak if you have too many charts open overnight. You have to refresh after every reboot as well. aggravating to say the least. I used Ensign for 10 years.
 
Quote from fearless9:

While this thread started off in tic charts, it has lead us into volume charts and now volume is stablized it enables us to better see price action. Gracias Prof.

IMHO there can be no meaningful discusion on price without the inclusion of volume ( where volume is available) and it looks like it is coming into Fx next year.

Next week maybe we can open up this thread a little to include volume studies.

ie What happens when you multiple Close by bid vol and also close* ask volume and plot them in the same window. Use stair step plotting if you have it available.

It is all food for thought and this is a thinking person's game.

Enjoy the weekend.
More...

That is something to think about. Check it out but if it is too cumbersome don't integrate it into the mix.
 
Greetings,

This is a litle off topic,but pertains somewhat.Using the volume or tick data gives me patterns that I can pick up on,the problem I am having is buying support and selling resistance.

Im sure someone like Mark Douglas understands it,have any of you gone through the fear of acting on S/R.Fear always comes in that it will fail.In theory if you cant navigate that,trading is going to be pretty hard?

any comments appreciated.

cordially Tom
 
Quote from Thom64:

Greetings,

This is a litle off topic,but pertains somewhat.Using the volume or tick data gives me patterns that I can pick up on,the problem I am having is buying support and selling resistance.

Im sure someone like Mark Douglas understands it,have any of you gone through the fear of acting on S/R.Fear always comes in that it will fail.In theory if you cant navigate that,trading is going to be pretty hard?

any comments appreciated.

cordially Tom
More...

Price is always moving from Support to Resistance and back. Now the million dollar questions is WHICH Support buys and Resistance sells are the best. Determine trend by defining Support at extreme levels for trend then all other oscillations are entry and exit points.
 
Quote from Karma Yogi:

Informative thread (thanks to the professor and others that contributed). The website linked below, has a comparative illustration of charts using: constant price range bars, constant time range bars, constant tic range bars, and constant volume range bars:

http://www.ensignsoftware.com/tips/tradingtips49.htm


Apart from ensign, I'd appreciate it if someone can list charting software that offers all four of these bars, thanks.
More...

KY, Thank you for the post....the chart examples illuminate the ability of volume charts to display price action more clearly........buhda
 
Quote from Karma Yogi:

Informative thread (thanks to the professor and others that contributed). The website linked below, has a comparative illustration of charts using: constant price range bars, constant time range bars, constant tic range bars, and constant volume range bars:

http://www.ensignsoftware.com/tips/tradingtips49.htm


Apart from ensign, I'd appreciate it if someone can list charting software that offers all four of these bars, thanks.
More...

SierraChart provides all those options for a lower price than Ensign. They have fewer Fib type tools but better market profile.

As a time bar user I will disagree with proflogic about their utility. Something for everyone in trading.
 
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