PhiSquared2618

The answer to your question lies in the subtle difference between eg a x00 tick chart and eg a y minute chart which superficially look similar, but are not when getting down to the actual trading. I recommend trying this out over a period of time and seeing what happens, if anything to your personal results. But for longer time frames, the activity vs time issue is covered in Richard Arms's book about volume adjusted width price bars, whereby eg a high volume bar widens into a box, that is, it has more x axis allocated to that bar. Volume = activity = momentum = open interest change=breadth, broadly speaking, but each has it's nuance and specialist inherent advantage. P&F is the activity variant. I hope this helps clarify.

If you look at a tick chart, the horizontal axis is "activity" rather than time. There are advantages to this setup over a "normal" price-time setup. Mainly in the evaluation of trends and pullbacks vs directional moves. A P&F chart does the same without requiring the tick data source. There are ways to replicate this effect without either fine detail data source or use of P&F, but the P&F is available at incredibly low cost. That's its value, provided the advantages of P&F are used by the chartist. in my opinion ....

This link has expired for this, or it has been withdrawn. If anyone has it -would you please upload again to a new link?

Has anyone used this Bryce Gilmore software? What did you think about it?