How do use this bar chart for trading?

Beginner Questions
1

Its just using H,L,C

Is it impossible in MT4? Are they only used in private packages?Thanks


2

Never seen that before :eek:

3

The idea is to make price easier to read when trading with volume. The open isnt needed. I want this but think I cant huhuhu

This SS is from Tradeguider. A package created by Tom Williams. He is the guy that invented VSA (volume spread analysis) . The problem is if you want there package it costs a lot.

4

Still looking for a method to stick to? What about your other trend following thing?

5

I don’t see where there would be any advantage.

6

No real benefit but if no open is needed after a while staring at the charts, the open becomes quite distracting.

7

I scrapped that method. I came across VSA and I really believe volume is the way to go… Using it with SnR and fibs. Obvcourse trend lines can be used but I just wont be basing trades always off off the trend line break. The problem with that method was that it only picks out reversals. So if you miss the trend entry you cant get back in and miss the whole ride…

If I want to get back in I could only resort to SnR and fibs. No trend lines. So the whole idea of a trend line break method was then non existance in trends.

Using volume is key. I have come to learn that finally.

I suggest any one who hasnt done so reads this.

http://forums.babypips.com/newbie-island/41475-supply-demand-vsa-wyckoff-petefader.html