@Silvester17 agree very interesting and rightly said maybe not for everyone. These guys have taken OF to the next level ..watched all their youtubes. Every functionality out there and more is integrated. Quite amazing period.

BTW have always been intrigued by your PV indicator. Is there a specific reason to use them on range charts. Why don't you use it on volume charts for ex..200 or 300 vol as example. Any insights. Hope am not diverting from this thread.

And thnx OP...had known of the tool but never looked at it..but their vids r a wow which I looked at after going thru this thread. did not know of a thread existing here.

Cheers

this is just my personal preference.

let's say the market gets to a level where it could reverse. the market could spend a long time or trade a lot of volume around that level.

- with range bars you only get a single bar for the top/bottom. only price will be considered

- with minute bars you might get several bars. depending how much time was spent at that level

- with volume bars you also might get more than one bar. depending of course how much volume was traded

I think it's easier to analyze as few bars as possible. and I want to see what happened at that price in a single bar if possible.

of course if you choose "big" charts, like 30 minutes or 100,000 volume, you also might get only one bar at the top/bottom. but for me there's too much information in those long bars. and also (for me), it's more about analyzing than looking for reliable signals.

or in very simple terms, I prefer to take trades based on price, not time or volume

It's interesting that you view it that way, because that's how I think of volume bars actually. By equalizing volume, you are essentially removing volume from the equation, and are left with only pure price action.

Just took a look at BookMap. At first I was like "what-what-what?" Am I looking at a Sonogram? But now that I understood what they are doing, I'm very intrigued. I also like to see the limit orders...

In the end, both products look very interesting, glad I found this thread...

It's interesting that you view it that way, because that's how I think of volume bars actually. By equalizing volume, you are essentially removing volume from the equation, and are left with only pure price action.

It's interesting that you view it that way, because that's how I think of volume bars actually. By equalizing volume, you are essentially removing volume from the equation, and are left with only pure price action.

interesting

when you say:

- By equalizing volume, you are essentially removing volume from the equation, and are left with only pure price action.

then you must also say about time charts:

- By equalizing time, you are essentially removing time from the equation, and are left with only pure price action.

I wouldn't agree with both statements. you are not removing volume or time, you're comparing what price does for a fixed amount of volume or time. as for range charts, you don't need to remove anything. the only thing you're looking at is price itself.

but again, I'm not saying you should use range charts instead of volume charts. this is just my personal preference.

interesting

when you say:

- By equalizing volume, you are essentially removing volume from the equation, and are left with only pure price action.

then you must also say about time charts:

- By equalizing time, you are essentially removing time from the equation, and are left with only pure price action.

I wouldn't agree with both statements. you are not removing volume or time, you're comparing what price does for a fixed amount of volume or time. as for range charts, you don't need to remove anything. the only thing you're looking at is price itself.

but again, I'm not saying you should use range charts instead of volume charts. this is just my personal preference.