Why do people use Volume, Range and Tic charts?

Discussion in 'Trading' started by fearless9, Nov 13, 2006.

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  1. Also SierraChart
     
    #321     Dec 14, 2006
  2. I used eSignal with Ensign when I had it.
     
    #322     Dec 14, 2006
  3. Cool, when did Sierra start using capped Volume bars?
     
    #323     Dec 14, 2006
  4. There is a lot of confusion about labeling indicators and how they differ from others.

    I am not as much interested in figuring out how they are exactly constructed but what aspect of price movement are they revealing and how I could use them to make my method a bit more honed to the market action.

    In this Pursuit I came across the True Strength Index in Prophet.
    After a while I discovered that TSI is very close to MACD except it is on an absolute 100 to -100 scale.
    Where MACD would not be useful for comparing different vehicles because the output is on the price scale TSI happens to be very useful because the values are normalized.

    Beside the divergences, etc. it is good for (minding of course if it is with or against the trend) establishing threshold values for entries/exits and determining extremes.

    If one, for example, set the tsi to 26, 12 - similar to the popular 12,26,9 MACD values, the output is almost identical except it is on -100/+100 scale.
     
    #324     Dec 24, 2006
  5. Kind of like watching myself post.
    Curious, what are your "extreme determination points?
     
    #325     Dec 24, 2006
  6. pismo10

    pismo10

    Been using volume charts for a while, chose 2500 on the ES simply because I liked how it looked, not too fast, not too slow. 2401 looks nearly the same. I doubt there is any magic in odd # charts per se.
     
    #326     Jan 24, 2007
  7. Nope, all a matter of personal choice.
     
    #327     Jan 24, 2007
  8. not sure those choices mean anything, just personal preferences
     
    #328     Jan 24, 2007
  9. Yup, better choice of words.
     
    #329     Jan 24, 2007
  10. tyler19

    tyler19

    what do you think would work well for intraday swings on the ER2?
     
    #330     Feb 21, 2007
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