I have been working on my charts if you had any thoughts on volume bars vs tick bars.
Also, I was curious which tick (or volume) increments you have found valuable in US (and ES?) analysis. 3600 ticks for US still seems to give 4
to 6 bars a day. (But fell to only 2 bars/day in the holidays.) Similarly, do you use tick data to chart ES - in order to capture O/N trading on your
intraday charts? I seem to recall that most of the references in the lessons say to include the O/N data, but a some charts only used day session
bars. Hopefully I didn't miss anything on PL.com or in the forums that covers these questions.....
JG
Volume Bars vs. Tick Bars
Re: Volume Bars vs. Tick Bars
Yes, you should be charting the 24 hour market, as the patterns complete themselves in a more reliable way when you evaluate the full set of market information.
I like 1200 tick bars on the bonds, but this is fielder's choice.
On the ES tick charts are a bit constrained by TS's 4000 tick limit and so we sometimes use share/contract volume as a substitute and that works well.... Select the number of contracts that gives you 6-8 bars a day and go with it. Again, the exact number is a matter of personal preference, as long as there are enough bars to comfortably see the vibrations on the lower time period.
I like 1200 tick bars on the bonds, but this is fielder's choice.
On the ES tick charts are a bit constrained by TS's 4000 tick limit and so we sometimes use share/contract volume as a substitute and that works well.... Select the number of contracts that gives you 6-8 bars a day and go with it. Again, the exact number is a matter of personal preference, as long as there are enough bars to comfortably see the vibrations on the lower time period.