Has anyone tried to develop Price Change bar type similar to eSignal PC bar type? They clean up much of the noise of tick charts, and give really clean chart patterns, and clean indicator setups.
With a Price Change bar the price must change values to be counted as one count against the bar total count. So, an 89PC chart will display 89 changes of price, not 89 ticks. This is what gets rid of all the noise. For example, if there were, in order, 3 trades at 9.25, 2 trades at 9.50, and then 7 trades at 9.25 again, then 3 price changes have occurred. Once the selected number of price changes are reached, the current bar is closed, and a new bar is created.
Has anyone created a new bat type to do that? It is worth the effort.
With a Price Change bar the price must change values to be counted as one count against the bar total count. So, an 89PC chart will display 89 changes of price, not 89 ticks. This is what gets rid of all the noise. For example, if there were, in order, 3 trades at 9.25, 2 trades at 9.50, and then 7 trades at 9.25 again, then 3 price changes have occurred. Once the selected number of price changes are reached, the current bar is closed, and a new bar is created.
Has anyone created a new bat type to do that? It is worth the effort.
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