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Rick MacNeil <rickinri@xxxxxxx> asks:
>Could any members that have experience using tic bars comment
>on the pro/cons vs inta day bars
Well, strictly speaking, tick bars ARE intraday :)
But, to answer your question a little:
If you track a twenty-four-hour market like the S+P, tick bars
make a reasonable-looking picture out of the sparse overnight
action. Beyond that, I think it's a matter of what you get
used to, what you prefer. After using tick bars with the S+P,
I found I preferred them with other markets, like bellies, or
the swissy. I think the appeal is that you get, to the limits
of the data-reporting system you're connected to, an extra bit
of information (the tick volume) encapsulated in the picture.
The obvious downside is that your chart is potentially very
sensitive to its data, and for sure will be different depending
on when you load data into that chart. For TS 3.5 (someone want
to confirm this for TS 4?) loading a tick chart does NOT break
a bar at the end of session 2. But while receiving real-time
data, a new bar WILL be initiatied at the end of session 2/start
of session 1.
I like to start TS Sunday night and hope that I don't have to
restart anything during the week, so those tick charts break
on their appointed sessions. But if something happens to foil
that strategy, it's not that big a deal for my methodology.
Jim
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