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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.
Can you help answer these questions from other members on NexusFi?
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.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
Here`s the excerpt from the Guide to the Equity Indices:
''The various performance indices are calculated continuously once a second or once a minute,whereas computation of the price indices is carried out once a day,at the close of trading''.
