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Pierre,
I appreciate your post, but respectfully disagree with a few of your
basic assertions:
1) Multi data tick charts are not impossible. They may be hard to
achieve and may require a great amount of ingenuity and imagination to
make them work, but most things are not impossible. There may be
tradeoffs, yes I agree with that point, but a program can be designed
with enough flexibility to allow multiple ways to plot the same thing
so that even the pickiest user would be satisfied. A bumble bee in
flight - now that's impossible. And if multi-data charts are
mathematically impossible, then it's good that MB isn't a math whiz.
2) Moving from a linear time based chart requires a paradigm shift,
similar to that required when TS first came up with the variable #
Tick chart and the multi-data chart. (I think they were first - credit
where credit is due). Look at equivolume charts for a minute. These
charts use variable width of bars to represent variable volume amounts
(what a novel idea). One of the new paradigms that TraderWare is
proposing is making system testing independent of any chart. The
reasons that come to mind as to why systems should be tied to the way
a chart is drawn are:
1) make it possible to visually see entry points based on your
system rules, and
2) to make system design easier to debug, and to
3) make the job easier to create the charting program.
In reality, since the charting program already has all the data, it
just needs to organize it and keep track of it in such a way as to
allow creative comparison to take place between all the data points
you'd like to compare.
In other words, it is all about more possibilities. I would be happy
of more of these kinds of "real trader" features regardless of which
company came up with them.
3) I'm not an Omega basher. I do like TradeStation. I don't believe
that discussing the flaws of an overall good program should qualify me
as such. I do have high expectations for my trading software, and I
think that I should be able to do simple things like reference the
open of the current day in my system on a daily graph, without using a
3rd party DLL to do this.
4) I'm really Mark Brown. Naw, Pierre won't believe me since I use
upper caps too much and have a spell checker. Heh couldn't resist :~).
Patrick White
Trading Materials Sale:
http://www.black-hole.com/users/spy/
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Pierre Wrote:
If you push the reflexion further, you will see that multi data tick
charts are a mathematical impossibility.
Because besides the time problem ( synchronism that is truely
impossible with tick bars and non common divisible numbers, you have
two solution that have hir own drawbacks:
Either create holes whant is stupid if you want to run trading systems
on it.
Or to use variable tick bars compression to fill the space.
This is also stupid, because you rely on bars that are not constant
and the synchronism compression algorithm is arbitrary.
The tick bar core will have a different number of ticks in each of
them.
What do you ,want with this and wat is the advantage over multiple
minute bars that are exploitable to run a system ?
Do you expect that real situation wll be the same by looking at these
chars ?
No:
They will look the same, but will be different because you do not see
the internal variable compression of the bars, INDEPENDANT of the
price action, but DEPENDANT of the others data tick speed.
Ina nutshell, you displace the impossibility of synchronization into a
transfer of some information of data1, data2 into data3 and so on.
Then your data1 2 3 are no more representing what they intended to be,
and with an hidden variable rule that you cannot control.
Of course, the charts presended with a large compression may let you
hink that the problem was solved.
In fact it is deeply buried in the low resolution of the screen.
This solution coming from someone who have not yet understood the
bouncing tick approximation is stunning.
Next time we will discuss the "quadrature du cercle" solution that
these geniuses will certainly produce very soon.
>This also solves the problem of the longer timeframe graphs in a
>multi-data chart having so much space in between the next bar.
>
This solves nothing:
It produces a pseudo mathematical solution to apparently solve a
problem that cannot have one.
That said, unless you do not write trading systems on it, its is a
nice chart.
And for ending, I'm always amazed to see that most of the critical
sense of the contributors is used to hammer on Omega head.
Besides , you are able to swallow a whale without any difficulty if
the beast is stamped "I do not like TradeStation".
Bon appétit, messieurs....
Rgds,
-Pierre Orphelin
Représentant exclusif de Omega Research en France.
web: http://www.sirtrade.com
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