I`m myself wondering,indeed,why do people use volume,tick,range,etc... displays over the fixed time period displays?To me, it doesn`t make sense at all.Whould be interesting to hear opinions from those with little and lots of experience alike.
Note:I`m not affiliated with ET in any way what so ever.
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Interesting thread...i don't always use the same type of chart simply because the chart is only a means for me to determine areas of interest and a way for me to be alerted to when price gets close to that area. I do tend to like volume or tick charts though, as they seem less noisy through less active periods. I don't really like range charts though, just a personal preference though.
I seem to recall that day time frame chart patterns show up better on minute charts, i wonder if its because the majority of retail traders use minute based charts?
I use a range chart for entry signals mainly for seeing previous highs or lows inside what would otherwise be unrecognizable inside a candle. The reason this is necessary for me is that I'm looking for these levels to be breached before entering in the other direction. I also look to get out at the end of the rotation in the direction I'm trading in and that is usually defined by a high or a low in the range. Take note that I also use time based charts. I'm sure volume or tick based charts would suffice, but I don't like changing things up all the time as it disrupts the process. I believe this discussion is mainly geared towards weird numbers on people's tick based charts. I feel people pick fib numbers just for kicks or to give an extra edge which really only acts as a placebo effect. I wouldn't be surprised if people picked lucky numbers either. They sure do make it seem interesting when they try to explain it.
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