Disliked{quote} Here is where I'm going to have to respectfully disagree with you. Using Tick/Range/Renko/Point Original charts is JUST another way to view price. You can still see major levels, you can still use trend-lines/Channels/Wedges. I do respect your opinion. I will definitely keep what you've said in mind. Hopefully I didn't come off rude as that was not my intention.Ignored
Not a problem about the disagreement. But perhaps you are not aware of the following issues with Tick/Henki Ashi/Range/Renko charts etc as your above quotes mentioned that you can still use trend-lines/channels/wedges with them which I disagree with because trendlines/Channels, etc can appear very differently in time-based charts and other chart formats like Tick/Henki Ashi/Range/Renko charts.
The reason that trendlines work, either as support or break, is because big institutional traders use them. When price approaches a trendline, it bounces because big traders place orders there. When a trendline is broken, big traders may play the trendline break and thus many times you can see that there is a sharp drop in price once a trendline is broken because institutional traders/MMs execute orders in the other direction, causing and aggravating the trendline break. And these trendlines are drawn in time-based charts. If you want to have the same trendlines drawn as the big institutional traders, then you want to use time-based charts.
From your above quotes perhaps you are assuming that the trendlines drawn using Tick/Henki Ashi/Range/Renko,etc charts are the same as using time-based charts. I think even some experienced traders are not aware of the following facts when it comes to drawing their trendlines/channels/wedges. In time-based charts, the time it takes each bar to form is the same and since x-axis on the chart is TIME, it makes total sense that all bars are assigned the same width. But in Tick/Henki Ashi/Range/Renko, etc charts, the time that it takes to form each bar vary, and this variation can be very LARGE at times. However, x-axis in those charts is still TIME, but each bar is still assigned the same width on the horizontal axis. When you connect the end points of different bars and form your trendline in these kinds of charts, things are being thrown off and the angles of the trendlines can be very different from those drawn in time-based charts, and thus the trendlines drawn in the same period between time-based charts and Renko/Tick/Range/Henki Ashi charts can be very different from each other. Most of the time a trendline support (or trendline break) in a tick/renko/range charts etc is not a trendline support (or trendline break) in a time-based chart at all. If your strategy/edge involves heavily a trendline support/break as signals then you will be completely screwed using Tick/Henki Ashi/Range/Renko charts. Or if you just use them as confirmation then it still throws everything off. A buy signal might actually not be a buy signal at all because the confirmation of a trendline support is false. The reason is that a trendline support is only a support because big institutional traders see them with their time-based charts and then place their orders there, and if other chart formats are used, then your trendlines are not helping you since the trendline support/break in those charts is not necessarily a price support/break at all.