Dislikedgood grief you do not need a scanner BUT you can not trade from one chart either you need at least 3 or you will get killed!!! teb {image}Ignored
As I said, If all charts tell the truth, why would you need more than one?
With that said, I think the best answer lies somewhere in between:
The late-great Robert Krausz of the Fibonacci Trader was a pioneer in the area of multiple time frame analysis. Especially the area of simulating higher time frames on a chart with the use of "dynamic" time frames......
Take a look at the charts below.
First note the time frames: 60 minute and 240 minute. TEB did not mention this, but I am sure he knows the value of using the 1:4 ratio. He uses 15,60(15x4),240(60x4).
The first chart was posted last weekend and it is a 60 minute chart.
The second chart is a 240 minute chart. It is after this week has started, so yes, this is "after-the-fact" analysis. But not really because there's not a lot of analysis going on here. Just showing a concept.
The third chart is again the 60 minute chart, but now it shows all the data up to the point the pic was taken.
Notice that the Chart Mode II indicator is different. It is the actual 240 minute Chart Mode I indicator overlayed the 60 minute chart. Now one can keep his eyes on the 60 minute chart and simultaneously know what the higher time frame trend looks like. Note that two of the tests shown on the original 60 minute chart are also shown on the new 60 minute chart. Both would be valid as Chart Mode I & Chart mode II are green (and price is above the BPL).
Speaking of the BPL, although it is created from data of the actual chart time frame (60 min), it is a simulated higher time frame tool in its own right.
So this is a way to look at more than one time frame but only look at one chart.
Wyckoff VSA: (1) Supply & Demand (2) Effort vs. Result (3) Cause & Effect