Candles defining both price and volume

I wonder if any software offers real time candles which depict both price and volume characteristics in a single candle? Say candle width determined by volume relative to other time periods. Seems like pretty valuable info could be had by such a tool but I haven't seen it in my wanderings.

 

i think john bollinger has something like this. he calls them bollinger bars (of course).

 

free book on trading with volume http://www.armsinsider.com/pdf/ArmsBookwcontents.pdf
check out the volume charts
http://www.armsinsider.com/education/armsonthemarket/equiv_chart.asp

 

I look at "Equivolume candles" on my charts. I think this is probably what you mean.

I use QCharts for my data feed, and Trade Prospector for a front end.

 

The charts I look at which include "Equivolume" have all the characteristics of regular candles, plus the variable width used in equivolume.

I don't see the difference between that and "candlevolume".

 

The very essence of technical analysis is to identify patterns that have an extremely high probably of repetition. It normally takes an advanced degree, possibly two, in mathematics and higher calculus/statistics to simplify these concepts.

However, with the expectation that candles on volume will show a high or even low, degree of repetition is a falicy not supported by the fundamental data that has been confirmed from so many market participants. Such comments as:
.."market maker participants are simply facilitating the order flow instead of handling signaling games",
.."we're having a deficit of buyers", or similar comments like: "we have a buyers strike".

Simply put, were volume reflective of a more natural demand/supply pattern than just happen-stance, as it is now, then one could interpret the candles on the volume as one would interpret the candles on the stock price movement.

OK, to make it more plain, should an order to sell 100,000 MSFT come into GS, they will do their thing, and handle the order, whether or not they complete it from within their own demand (inclusive of SLK and PropShops using SLK's Redi+, etc.) or will totally release it to the marketplace and become the Ax on MSFT. After that order has been filled, then there's no predictive pattern that suggests that a repetitive event of such magnitude will reoccur, or reoccur in a predictive manner.

Conclusion. Volume on candles or candles on volume will be deceptive, and just might cause you to trade on the tail end of almost every above average volume spike.

Careful....

 

Metastock offers both types of charts. While a candlevolume-chart retains the characteristics of a candle-chart, equivolume emphazises the range of the bars by showing high-low only, see example.

I think equivolume-charts have been described by Richard Arms in hs book "Trading without Fear".

regards

Bernd Kuerbs

Example with equivolume and candlevolume chart

 

Esignal Advanced charting offers this.

Personally, I just watch the tape..