I've been testing my ideas in Sim/Ninja, taking notes etc.
When they are 'on', they catch amazingly long trends.
At the same time, they seem susceptible to whip turns in trend and gaps that seem too fast for reaction.
I recently discovered blog of trader/mentor that seems to use them quite consistently.
Seems more of a scalper than big trend player, but obviously transparent and successful with this tool. For me its proof that range bars may offer great potential.
I'm new to posting ideas here.
What an amazing informative blog community!
My compliments to BIG MIKE
I think you're right Lynx... but I'll carry it even further. ALL charts are just arbitrary ways to massage price into a heuristic package. Minute bars are just as meaningless as tick or range bars. The close of a range bar means nothing, just like a minute or tick bar.
The only possible exception is bars that have a huge majority of traders watching them... they may have a tendency to self-fulfilling value & daily bars, because they correspond to the open and close of a tangible market.
I think you just have to pick one and learn to trade it.
I wrote a thread here about what I think of the obsession with manipulating price is infinite ways.
The following user says Thank You to Slipknot511 for this post:
I once posted a question about range chart just to get other traders feeling, but when I red Big Mike reply about his use of the five minute chart I went and took another look at a time frame that I had given up on for years, an I must say Big Mike you are right, we traders tend to create to much problem for our self by chasing all the latest fad. Now I find my self back using the five minute time frame and having better resolt than using all the others, for me I will stick to my five minute time frame were I can see the big picture and don't have to worry about all the noise in those other time frame.
The best to all
The following user says Thank You to Lalo for this post: