the main argument of using volume chart is that bitcoin markets are open 24/7 so the time does not really matter
so what volume is the most suitable for charting ?
note: I use 4 digit precision volume set your SC correctly
using 20, 50, 100, 200, 300 days simple moving average we see that daily volume most of the time it was below 50000 per day so any day that have over 50 000 volume is likely to be important so for this thread i will use 50000 volume charts
http://yfrog.com/mm7uetp
this is how a chart using 50 000 volume bars looks
http://yfrog.com/oe9ztep
first step how much was buy and how much was sell in the past 50 000 volume, the volume study is there to show that all bars are 50 000 if your SC volume don't show this you are doing things wrong also it show that the last bar is not complete
(to get this tool search for my thread called sierra chart sharing is caring)
http://yfrog.com/hwbcjhp
how this type of chart affect thins like SS or MACD
on time based chart SS or MACD go faster to the middle when the price goes sideways
for example SS use last 14(or 10 up to you) bars on a daily chart all bars are counted so days with low volume are also counted but on volume charts this wont happen so if there are 2 days with 25 000 volume each this 2 days are just 1 bar on volume based charts.On days with heavy volume you get more bars so a day with 100 000 volume give you 2 bars instead of 1 making SS or MACD much more sensible
Volume chart
http://yfrog.com/obbzimzp
1day chart
http://yfrog.com/hwn9okp
