Let me just say here for the record that using multiple timeframes does not by default require Fibo, wave counts, MT4 (whatever that is), or any sort of voo doo. I really don't know how all of that becomes a requisite for using multiple timeframes effectively.
There is only one true chart. The 1-tick chart. All the other charts are DATA COMPRESSION of the 1-tick chart. Some state that anything less than 60 minutes is "noise". Guess what - the 60 minute chart is made up of all the ticks that happened during those 60 minutes. Does that mean if you use 30 minute charts then suddenly all of those ticks become noise? That's absurb!! If 1-tick charts are noise because they are less than 60 minute charts, then all charts are noise because noise + noise = more noise. Therefore, there is no "noise" when it comes to trading charts. The problem is you have been led to believe in a "myth". The truth is PRICE IS THE SAME ON ALL CHARTS. The daily open is the same on all charts. The previous day's close is the same on all charts. "Mythical" things like moving averages or conceptual things like trend can change when you change time frames. I prefer to trade using HORIZONTAL LINES based in REALITY and statistics that analyze price movement. You can search elitetrade for my thread.
That is certainly true in the sense that data is data. It's what you do with it that really matters. There is no singular, definitive way to analyze that data or indeed to trade the markets. If you have twelve different successful traders, chances are they are looking at twelve different timeframes in twelve different ways and for that matter they are almost certainly trading twelve different strategies.
An untradeable mish mash of back and forth price action You get pulverized, whipsawed, and broke AKA Barb Wire Itâs like a rattlesnake â you can see lots of snakes.., but should you ever come face to face with a rattle snake â youâll know it ============================================================================================= Aside What RCG and X have stated about multiple time frames is golden MTF benefit will become evident once you can reference a smaller time frame⦠and visualize what the higher time frame candle is going to look like while it is forming That skill is money RN
Bone you are a spread trader right. Do you trade strictly reversion to the mean commodity ratios or do you also trend follow spreads (difference between two commodities)? Also do you use daily bars or some other period bars??
TRO, you're spot on. 1tic chart is purest and provides most data points, which in statistics is essential for accuracy.
We use several timeframes, and our models can use just about anybody's charting platform that will accomodate custom synthetic spread combinations, exchange-supported spreads, and custom studies. We also use multiple timeframes simultaneously.