You can send raw price data from a range bar chart or volume bar chart (as SendStream(1,Close) or SendGroup3(1,1,High,Low,Close)) and use this in a 1, 2, or 3-minute chart. For active stocks, faster time frames generally pose problems resulting from bar-to-bar volatility. Trading systems often have to “desensitize” themselves in order to avoid whipsaw trading. By processing range/volume bar data in a time chart, small bar-to-bar changes are suppressed by the range/volume bar source. As a result, trading system optimization can be more aggressive. The results obtained from any trading system which is processing range or volume bar data in a time chart will be different from the same system running on the original range/volume bar chart and also different from the same system running on actual, unfiltered data on the time chart. You could note these differences and ignore, scale, or combine them to your benefit.

One other opportunity to be aware of: when an announcement occurs that moves a stock; the arrangement above may filter any noise effect of the announcement. For example, you are receiving close price range data into a 5-minute chart. An announcement is made at 10:00 AM. The 10:00 AM bar is already drawn on your chart. At 10:01 AM the stock spikes up $2. At 10:02 AM the stock drops $3. By 10:04 AM the stock is stable at $.25 less than it was at 9:59 AM. In this scenario, the 5-minute chart will reflect only the net $.25 move. No spike data will be fed into indicators or trading systems. This should produce a more rational response to the stock’s movement. Please note that the spike data will be reflected on the range or volume chart and, in the scenario shown, if the time chart was set for 1-minute then you could catch one or both of the spikes.