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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.
The following 3 users say Thank You to srgtroy for this post:
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...
The following user says Thank You to srgtroy for this post:
- 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.
The following 3 users say Thank You to Silvester17 for this post:
Well, that's true, if you think time has a high level of inherent value, but since time is static, I am less interested in it. If you consider price and volume to be the key, equalize volume and you are left with only price. And if you are bothered by the time dimension, then you can measure the time of each volume candle as well, which I have done, although I did not find that to be overwhelmingly helpful, which is why i am less interested in it.
I like range bars, my only problem with them is that unless you have large ones, they can develop very quickly, but perhaps I just need to fiddle with them more...
Yupp agree @Silvester17 had never used range bars. But I see your point. Have also seen someone using range in OF in a darn efficient manner.
Have specific info from my volume chart which will always run. But transitioning to an 8 range or lower for very specific OF events.
On a different note must thank guys who started this thread as have not seen much info on AD on the net. So will do a small review and kudos. From what I have seen looking into AD they have very unique features. I got AD as soon as I saw what it could do on youtube. never ran a trial. It has boat load of info....still getting to learn. But it gives me some specific info from OF perspective i was looking and searching for and did not find it any where with 3rd party turnkey vendors. I do have 2 other OF tools side by side which I won't name here to be fair .. but am impressed with context and thoughts behind the development at AD. It feels like working with a startup and has exactly what i was looking for in OF. I say this looking at the inspiration behind bringing to market such a tool..and also say this as it seems to be constantly evolving looking at frequency of past releases means constant fixes. Lol but everything comes with risk which i atleast am game on for. I must say i do not know the developers so it's my 2cs....and my passion l for understanding very specific events which happen in ES every single day approx 7 or 8 times which is being supplemented by AD in understanding.
Only thing I don't like and I see many 3rd party ninja developers using some license file nothing to do with AD. I am a pure tradestation user where I buy a product and I need a lifetime license. I am willing to pay for updates. Many vendors with ninja seem to authenticate everytime. I just don't like that idea. If vendor closes shop the product becomes useless immediately.
Anyways cheers..the thread is for AD. AD is one of the finest OF Tools out there. I wish AD only the best and success.
The following 4 users say Thank You to paps for this post:
Ad is a good tool and it has been evolving with new features. I purchased the licence earlier this year . Few vendors charge arm and leg for their tools. Ad has been very reasonably priced for what it can do. I have used with wide variety of bars and had no issues.
Over all very happy with the software.
The following 3 users say Thank You to optionzen for this post:
