Time And Money Charts by Stuart Belknap, Ph.D.
Interested in a universal price display? This might be
Whether you use indicators, automated
setup and signal rules, or any other
method, before opening or closing
positions you probably read charts
to identify patterns, interpret indicators, and apply line studies. Hence, your price display
should be as helpful as possible. Your charts should
clarify the development and repetition of patterns,
cycles, and trends. They should accurately display
relative price moves, gains, and losses. Most important,
your charts should provide a functional, realtime
map for trading tactics and money management.
There are, however, any number of ways to plot
security price action depending on style and time
frame, metrics, scaling, and calibration. Moreover, it
is commonly held that individual securities have
unique behaviors, requiring different indicators with
different parameters at different times. Do things
have to be this complicated? Maybe not.