a while ago, I blocked out my candles, bars etc and now I only watch the (last) price action on a line chart. I think that it gives me a much better look at what is happening on my charts. It also prints out everytime the price changes so that there is no annoying time lag as on some longer delta t charts, such as 15 minutes etc. and especially at the open. I was wondering if anyone else had tried this technique? I like it and I would never go back to bars, candles etc. It works on the last bid price as well but I don't use both at the same time.
I used nothing but line charts until 1998. I see where you're coming from, bars and candles come with alot of noise. I use candles on some charts and lines on others. The close is very simple but it doesen't give enough information, like the candles and bars. I would not throw the baby out with the bath water just yet. Try using a a combination of the two, candles for larger time frames and lines for smaller time frames, or vice-versa, what ever works best for you.
Thanks for the reply. I am not looking at the close of a bar. I am looking at each and every price, as in time and sales printed on my chart.
I agree that watching the bid/ask activity is a great way to 'learn' a stock and determine entry and exit points, graphs of any type seem to always run slightly behind the actual prices, but are a must at keeping track of those stocks not being tightly observed... just thoughts...
My method is based on chart patterns, filtered by a pair of indicators, therefore, it would be impossible for me to trade without bars or candles. I use candles as i can read them faster than bars, but either is workable. But whatever works for you is the "best" thing for you to use and other's "opinions" should be irrelevant. lol