I have a thought that if we can plot equal value bars the trend will be more accurate.But MT is not equipped with that facility.
I would like to explain more.Suppose If we choose BARS that are worth say $5000 and we plot a 5 bar moving average ,this average will be more useful than
5 period moving average.Think of it.
That's an interesting idea, but I'm fairly certain that indicators are set up to plot along with the "time" associated with ticks. You could definitely write one that does this, but I believe you'd end up with "fat" bars during periods where the market doesn't move much (unless I'm misinterpreting the question)
There is no question of fat bar.All the bars look alike.I would like
to further explain.Suppose there is contract trading around $1 and $2.
in one tick there maybe 2 contracts traded @ $1.25 and in another tick 5
contracts traded @ $1.Then the total bar value is 2*1.25+5*1 =7.5.
that we go on adding up to the value which we chosen ($5000).And we
take the price of the bar as 7.5/7 =1.0714. I feel that it will give