This article is taken from the Forex Journal, a special edition by Trader’s Journal magazine in Nov 2007.
The author is Dr. John Clayburg. A trading system developer and trader based in Western Iowa in the U.S. More information on the Universal System and other self-adaptive automated systems and indicators
- Have you ever considered using non-time based charts in your technical analysis? Dr. John Clayburg talks about the advantages and disadvantages of doing it:
Daily bar charts have been part of technical analysis since trading of commodities and equities commenced on centralized exchanges. Many books written by the early ‘masters’ of trading are heavily laden with handdrawn graphs recording the daily activity of various stocks and other traded items.
When short-term trading and daytrading became popular a several years ago, the natural progression of this activity was to also use charts to analyze short-term market movements.
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