[brownsfan019]

tin - notouch summarized the volume based / share bars charting format very well. Basically in real-time, I can tell just by watching my charts if there's a lot of volume coming thru or not. I don't need tape, a separate volume indicator, or anything. As notouch said, you need to try watching real-time to really see the value.

Here's an example while using a candlestick formation - in traditional candlestick analysis a doji symbolizes that the current trend may be coming to an end as the bulls and bears went back and forth and noone won. On a time chart that doji can be saying: 1) the trend is over or 2) the bulls and bears are simply taking a breather.

Now, with a volume chart, that doji tells me that XXXX contracts traded in order to produce that, not just traders taking a break. In order for that doji to be produced, the bulls and bears did in fact have a good fight, which is what I want to know and see. I don't want a 'breather', I want a fight.

As another trader asked me when I first questionned the share bar method, he asked if I watch my clock when I trade. I replied no. Then it hit me, the time it takes a candle to form is irrelevant. What you want is a candle that is telling you something - either there is action going on or not much is happening right now. I personally want the action/momentum and to participate in that. I don't want to enter a time where volume is low and moves are little. I can't stand trades that take hour(s) to develop. I just don't have the patience.

The other big thing for me is that on a time chart with candles during big moves, you aren't going to be able to do much till it's too late. In other words, if the contract moves points over a 3 minute timeframe, that candle is useless. So during big moves, I saw giant candles forming and watched the action take place w/o me. I knew something was going on, yet I had no way to take advantage of it. That same move on a volume based chart can possibly provide me with MANY signals. It's night and day.

In the end (for me at least) this is what pushed my trading over the edge. Volume based charts provided me a quick and easy way to visually see what was going on. Rapid candles = rapid volume movements that I want to participate in. Slow candles = low volume that does not help my trades.