Depends very much on the time frames. Intraday and short term there is nothing that comes near the volume charts imho. I used for a decade any "time"-frame - from seconds to 30 minutes. Since I tested the volume bars and compared them to "time" charts I dropped the latter ones - without exception. Charly
Prof. Logic. I have a big favor to ask. Could you remind me of some good volume settings for ES, ER2, 6E, 6C I read them months ago and I can't recall what they were or where to look. Since the are buried deep that's why I ask. I started with a 5000 volume for ES trend and I am considering 1000 volume for entry. What do you think, yeah or nay? I appreciate your help.
I would like to ask ProfLogic what he believes are the drawbacks of using range bars vs. constant volume bars. Aren't range bars more price orientated than volume bars which take volume into account vs. taking only price into consideration?
These are the Trend charts I use. Entries are incrementally one step lower. S&P - Scalp - 343 Volume Intraday -2401 Volume Swing - 117649 Volume Position - 823543 Volume Russell, DOW & Euro FX - Scalp - 49 Volume Intraday -343 Volume Swing - 16807 Volume Position - 117649 Volume I don't watch or trade the pairs. Too much profit in watching a single market if you can read price. I've found that diverting your focus throughout the day over a few different markets causes confusion. Find an increment that is comfortable and offers enough oscillations to keep your attention and trade away for a few hours a day. I trade from 8 am to noon EST each day and I'm more than happy with the results.
What is the range of the S&P going to be for today, tomorrow or over the next 3 hours? That variable aspect of a chart will eventually hurt and distract you. Range bars are for individuals that trade breakouts which is alright but not wildly consistent. Range bars are all price oriented and ignores volume. Constant volume bars are a perfect balance between price and volume and that relationship is the core of all price movement.
3 to 4 minutes tops. I'm not a scalper but I have friends that are. One is a full blooded Shawnee. He says it takes him back to his roots.
Thanks Prof. Logic. I am right now tinkering around with a volume chart that looks similar to my 3 min ES chart, which I really liked, and its definitely more consistent.