It depends...low relative volume at a specific price level can be a strong support, resistance, or breakout level.
Interesting,,, Ok, well, I guess I better look a little more closely.... Despite the flaws, I use CVB in TS and can't imagine trading without them. Hmmmmmmmm....
Don't know what you mean by low relative volume being a S/R/BO level. If you're trading by whatever S/R are provided by price without regard to whether volume is "high" or "low", then volume is largely irrelevant to your entry decision, as is the length of the price bar or the quantity of price bars. LC
You should checkout bolter's volume profile thread for a more comprehensive explanation. However, I believe even the professor recognizes that constant volume bars are not perfect, because if they were the ergodic indicator he uses to confirm price action would not be necessary.
No, thanks. I'm interested in your thesis, but not enough to read an entire thread. Again, if your entry criteria don't require a given level of volume, then volume is irrelevant to the decision. If price and price level are the only criteria, then focus on that. LC
Esign software has an article exploring the differences between various charting methods: http://www.ensignsoftware.com/tips/tradingtips49.htm
My question, however, had to do with your setup, which was prompted by your original question. I use volume bars, so the issue of the relationship between price bars and volume bars is moot. LC
TradeStation can see that a 5 minute bar should be five minutes....not 4 minutes on this bar and 6 minutes on the next one....perhaps they will eventually see the contradiction of volume bars with an inconsistent number of contracts ...we can only hope....
Again I suggest you read bolter's thread (just his comments). IMHO it's one of the best journals on ET. It's an introduction to a whole new way of looking at the price/volume relationship.