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Old Apr 13th, 2007, 10:55 AM   #1
brownsfan019
 
 
Join Date: Jun 2005
Posts: 2,895
As a result of a couple great threads here and some friendly traders, I have been using Volume Based Charts (aka Share Bar Charts) in my trading. It has helped tremendously.

Today however, I noticed something on TradeStation that got my attention...



As you can see, this is an EC chart set at a 500 interval. All the parts highlighted in yellow represent a candle that is over the 500 setting, which defeats the purpose of having a volume based chart up.

So, I am asking for help of those using something other than TS for charting - if you could be so kind as to first see if your charting platform supports Volume Based Charts (aka Share Bars) and then add a volume histogram to the bottom of it and see if the volume is nice and uniform or if it is like my pic above. Please post all feedback here so we can help each other out!

Thanks!!!
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Old Apr 13th, 2007, 11:10 AM   #2
BKuerbs
 
 
Join Date: Oct 2001
Location: Aachen, Germany
Posts: 531
Tradestation and some others - like eSignal and NeoTicker - add the volume just arrived to the current bar and then check whether they have to make a new bar.

This way you may get bars with volume well over your threshold. Depending on your threshold this may be ok or not.

In my case, I don't bother.

Regards

Bernd Kuerbs
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Old Apr 13th, 2007, 11:12 AM   #3
HoustonMark
 
 
Join Date: Dec 2004
Posts: 118
TradeStation has Volume or Share Bar charts BUT the missing word is "constant". Despite many requests and enhancement suggestions, TradeStation continues to use uncapped volume bars.

This bar may be 520, the next bar may be 480 etc. etc. depending on how the datafeed comes in. It averages out to 500 contracts per bar I suppose but the end result is you wind up with about 20 percent fewer bars on a daily basis. This results in "inaccurate" oscillator indications compared to someone who is using constant volume bars.

I am a long time TradeStation user but had to buy Multicharts to get constant volume bars. I drive it with the TradeSTation datafeed and everything works fine.

There may be other charting programs that also have constant volume bars (Ensign for one) but I am not aware of all of them.

Hope it helps.

HM



Quote:
Quote from brownsfan019:

As a result of a couple great threads here and some friendly traders, I have been using Volume Based Charts (aka Share Bar Charts) in my trading. It has helped tremendously.

Today however, I noticed something on TradeStation that got my attention...



As you can see, this is an EC chart set at a 500 interval. All the parts highlighted in yellow represent a candle that is over the 500 setting, which defeats the purpose of having a volume based chart up.

So, I am asking for help of those using something other than TS for charting - if you could be so kind as to first see if your charting platform supports Volume Based Charts (aka Share Bars) and then add a volume histogram to the bottom of it and see if the volume is nice and uniform or if it is like my pic above. Please post all feedback here so we can help each other out!

Thanks!!!
    Quote
Old Apr 13th, 2007, 11:22 AM   #4
fearless9
 
 
Join Date: Jul 2006
Posts: 2,057
HM is correct, TS cannot split a strike to produce CCVB ( constant capped volume bars)
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Old Apr 13th, 2007, 11:37 AM   #5
brownsfan019
 
 
Join Date: Jun 2005
Posts: 2,895
Yeah, I found that out the hard way! lol.

Why TS can't even offer constant volume bars does not make sense at all, but a lot of these vendors can frustrate the hell out of you.

Thanks for the info guys, I am looking at Multicharts now.
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Old Apr 13th, 2007, 11:44 AM   #6
JangoFolly
 
 
Join Date: Feb 2005
Location: Philadelphia, PA
Posts: 566
Esignal's constant volume charts are produced correctly. I was told that were correct a few years ago, then esignal changed them at some point (i.e., not to split ticks), and then they changed them back.

Note volume in the bottom panel.
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