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Old 03-13-2007, 07:28 PM
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Re: [VSA] Volume Spread Analysis

It should be said that candle can be used. TG offers them because many traders like them. I used to like them myself. But bars are easier to see especially at first.

Tom Williams (father of VSA) uses bars
Todd Krueger (TG and leading VSA expert) uses bars
Gavin Holmes (TG) uses bars
Sabastin Manby (Tom's friend and VSA expert) uses bars. Read his article on the T2W forum.
Joel Pozen (Formerly of TG, Student of Richard Ney, and one of the best chart readers, second only to Tom Williams) uses bars. Check out his site at Tradingmentor.com

If one uses candles, one need to remember that the close is more important than the open. Hence while a candle may close in the middle and have an equal open, what matters first is the middle close. The fact that the bar is a Doji is secondary.

As far as mutliple time frames. The best approach may be to find certain support/resistance levels on various higher time frames, but trade off of just one lower time frame chart.

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