That's a great piece of art, very aesthetically pleasing, probably got something to do with the golden ratio...
Yeah.........they look slightly different. Here's the same data as your chart just different bars. Uploaded with ImageShack.us
I don't know why you two are banging on about charts, a chart is just a graphic depiction of numerical data, a visual aid to analysis. How you set them up is down to your personal preference but the numbers are the same.
NQ 5 minute looks pretty orderly. NQ 1 minute middle of day looks like a complete mess, huge ranges, all over the place. They contain the same data though. Uploaded with ImageShack.us Uploaded with ImageShack.us
Too tired to get into Mandelbrot & fractals so I'll bid thee good night, (not that anyone seems to be paying me the blindest bit of notice anyhow)
Because my brain doesn't seem to like them. Just last night I was looking at the NASDAQ and never even noticed until yesterday how wide the daily ranges became before the fall. I'm constantly zooming in & out on charts and I'll miss a move and look back later and say oh look that was obvious support on the 15 minute chart, but I didn't notice it on my 1 minute chart. I'd like to have a computer programmed to talk to me. "Resistance approaching - 60 min". "Bars are really narrow dude". "Volume is extremely low" "just hit the last weeks high; careful of reversal" Any programmers here?
I'm listening to you if it makes you feel better. I'm just on a chart-hating rant !!! Maybe I'll learn to love them someday. Mandelbrot & fractals sounds not so good. No more info can fit in my head. Going crazy !!!
Well to be fair Mac you'd stand a better chance of spotting Ex-Con (expansion, contraction) volatility range on a squashed chart than on a spread sheet. Like I said it's down to preference, personally I don't look at anything smaller than 5 mins, too much noise on the ones & twos IMO. Mandelbrot Set & Fractals: <object width="480" height="385"><param name="movie" value="http://www.youtube.com/v/gEw8xpb1aRA&hl=en_US&fs=1&rel=0"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/gEw8xpb1aRA&hl=en_US&fs=1&rel=0" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="385"></embed></object> Night night.
If you are using TradeStation, their EasyLanguage is a relatively easy lingo to code in, so you should be able to make some helpers for when you nod-off in front of the screen. All charting packages have some stuff you can use these days, though frankly the line-drawing tools are many times good enough.
That's another thing. What should I be using for daytrading stocks? 1 minute, 5 minute, volume chart? On that 5 minute chart I posted I can see the nice short opp when it retraced up to a resistance level in the middle of the day. I can see the higher lows which occurred before the move up at the end of the day. On the 1 minute chart I see a big mess, but I get the impression that good daytraders use a 1 minute chart or similar for the extra detail. I really don't know though. TE.............you have all the experience.........what's a good chart for daytrading stocks?