Volume Based Charts Request for HELP

[brownsfan019]

As you guys know here I am a big fan of the Volume Based Charts / Share Bar charts. I am a TradeStation user. I thought a few things looked odd today while I was watching things progress...



As you can see, this is an EC chart set at an interval of 500 shares. Well, hopefully you can also see the problem here... All those yellow highlights are when a candle formed that was OVER the 500 setting. :mad:

Frustrating to say the least.

So, I am asking for help of those using something other than TS for charting - if you could be so kind as to first see if your charting platform supports Volume Based Charts (aka Share Bars) and then add a volume histogram to the bottom of it and see if the volume is nice and uniform or if it is like my pic above. Please post all feedback here so we can help each other out!

Thanks!!!

[walterw]

Brown : check on the symbol format if volume is based on ticks or volume....(should be on volume) because the volume indicator will use any of both depending on the symbol format setting.... hope helps cheers Walter.

[brownsfan019]

	Quote:	walterw
	Brown : check on the symbol format if volume is based on ticks or volume....(should be on volume) because the volume indicator will use any of both depending on the symbol format setting.... hope helps cheers Walter.

Walter - all charts are set to volume.

I found a few posts on the TS forums that deal with this subject. Apparently TS is at least aware of this, but does not look like they have done anything to fix it or at least give you the option to make them constant.

Here's the key word "Constant". TS does not support Constant Volume Bars. In other words, if a large order comes thru right as your candle is nearing a close, that order will be included in your volume chart and then a new candle will form. Not sure why TS does this or at least allow you to set it as constant, but it is what it is.

[walterw]

I see.... well I feed TS with esignal data, never got that problem....

[cooter]

Tradestation has never been accurate with their volume based charts. This is a known fact in the world of technical analysis. E-Signal and Ensign or Sierra should have accurate volume bars; TS is simply "approximate" in nature, not "constant".

[cooter]

	Quote:	walterw
	I see.... well I feed TS with esignal data, never got that problem....

Walter,
How do you manage to feed TS with e-Signal data? And what versions are you using?

[walterw]

I have a TS 8.1 with owndata 2.4.... work like a charm....

[bh_trade]

Actual volume is usually *very* close to the volume bar setting, i.e. very close to constant volume, within a handful of shares on my charts. I was unable to enlarge your chart so I could not see the actual numbers but I suspect the reason the volume subgraph "looks" so spikey is due to scaling, meaning a 510 share bar might look like a huge spike on the subgraph when in reality it is less than 2% difference from ideal.

[cooter]

Close only counts in horseshoes and hand grenades.... when dealing with $$$ (especially if you're paying for the privilege of using their platform) you'd like some sort of accuracy, wouldn't you?

[brownsfan019]

	Quote:	bh_trade
	Actual volume is usually *very* close to the volume bar setting, i.e. very close to constant volume, within a handful of shares on my charts. I was unable to enlarge your chart so I could not see the actual numbers but I suspect the reason the volume subgraph "looks" so spikey is due to scaling, meaning a 510 share bar might look like a huge spike on the subgraph when in reality it is less than 2% difference from ideal.

bh - some spikes were over 20% of the next candles volume. This is unacceptable in my opinion. If I put in 500 share bars, the candles should reflect 500 and not one contract over. "Just about right" will not work for me.

In the big yellow box on the left, you can zoom in and see that that candle is 680 contracts. That is 180 OVER. That is 36% more volume than I wanted. That's a problem.

And the difference in the appearance of the charts is substantial when looking at them side-by-side. We are not talking about an extra tick or two of movement.