Why do people use Volume, Range and Tic charts?

feb2865 · Jul 16, 2007

ProfLogic

is there another indicator besides ergodic that performs a similar function??

Thanks

ProfLogic · Jul 16, 2007

Quote from feb2865:

ProfLogic

is there another indicator besides ergodic that performs a similar function??

Thanks

I would imagine but through all of my searching I haven't found one that is either as smooth or as consistent. Jurik has one but he charges something like $250 a month to use it. I told them to pound sand and built one myself.

RedDuke · Jul 18, 2007

Quote from feb2865:

ProfLogic

is there another indicator besides ergodic that performs a similar function??

Thanks

I use CCI on volume charts. Its accuracy is very good.

ProfLogic · Jul 19, 2007

Quote from RedDuke:

I use CCI on volume charts. Its accuracy is very good.

If one is used to a specific indicator, moving to Constant Volume Bars charts should always be a huge improvement. I wonder if Woodie as figured that out yet? LOL

steve46 · Jul 19, 2007

How would you respond to price action traders who say that they have (finally) learned to recognize specific setups using traditional bars or candles, and are hesitant to change to constant volume charts fearing they won't be able to recognize those same setups?

kiwi_trader · Jul 19, 2007

Steve,

I'd respond by saying that it depends on the nature of the setup.

Constant volume and tick charts spread the chart out at times of high activity so it depends whether that spreading will improve the trade enty/reliablility. With an indicator entry I suspect that that will usually be the case. With a price or price/volume based entry ... it will depend

Just my opinion though.

RedDuke · Jul 19, 2007

Quote from ProfLogic:

If one is used to a specific indicator, moving to Constant Volume Bars charts should always be a huge improvement. I wonder if Woodie as figured that out yet? LOL

I mentioned using cci on volume bars many times in woodie's room, but none seem to be interested. I also discussed during last ny expo, but same result. What i do not get why people are so blind to see that cci is a momentum indicator and using it on momentum bars (volume) increased accuracy of patterns.

ProfLogic · Jul 19, 2007

Quote from RedDuke:

I mentioned using cci on volume bars many times in woodie's room, but none seem to be interested. I also discussed during last ny expo, but same result. What i do not get why people are so blind to see that cci is a momentum indicator and using it on momentum bars (volume) increased accuracy of patterns.

I agree but Wood Man is so stubborn. Constant Volume Bars are as pure as one will get to viewing price and that is supposedly Woodie's whole focus.

I use the Ergodic which is a Momentum Indicator as well. I personally like the smoothness verses the CCI.

ProfLogic · Jul 19, 2007

Quote from steve46:

How would you respond to price action traders who say that they have (finally) learned to recognize specific setups using traditional bars or candles, and are hesitant to change to constant volume charts fearing they won't be able to recognize those same setups?

Steve, the same set ups occur using Constant Volume Bar Charts (CVBC) but they are clearer in forming in real time and easier to see. Price, when viewed minus the noise created by minute, tick and range bar charts, is pure.

feb2865 · Jul 19, 2007

RedDuke

what settings do you use for vol bars??