Quote from nelo:
ProfLogic, all,
The information you gave in this thread about chart/trading environment setup is by far the best I have ever read. It is very valuable piece into my trading method. Thanks so much. If someone understands the point behind square-incremented volume charts (which requires open mind and intelligence) he/she finds this is the most objective and perfected method how to set up the trading environment!
The thoughts you evoked in my head reminded me the feeling I had last time when I read J.M.Hurst!
What I love on VB charts and squared increments is consistent view on various markets and decreasing the learning curve required to become familiar with the market (except of other benefits).
Personally I daytrade ES and use increments of 11. The multiplier of 11 give me bigger picture on the slower chart which I like (before I used 5-minute, now 14641-V). My trading method is little bit different to ProfLogic, but not in principle. I use various levels, tape and market profile in my trading, and I am glad to find a method how to set up my environment in a more structural and fundamental level. My set-ups seems to look more consistent, less distorted (time distorts a lot) and easier to read. Still I use time based chart for MP (30-min) for identifying bias, POC and VA, but nothing compares to clarity and consistency of volume based charts on setup and timing charts.
ProfLogic, GREAT THANKS!!! And I thank nature to make some people blind to see what value you gave here.
Originally I found that 11 was another perfect square but I chose to use 7's because it gave me more options as far as chart increments. By using Prime Numbers for your squares we again eliminate another variable form our chart increments. How refreshing to see people think for themselves and use the grey matter God gave them. Let me know if I can help further.