Regular readers know I frequently use 130 minute bar charts, especially with the Bollinger Bands, for support and resistance cycle studies. To ratchet down those views I also use 65 minute bars...not hourly bars...because the trading day is 390 minutes, not 360 minutes, so hourly bars give a distorted price/volume perspective. Most trading platforms permit setting the bar charting interval to 130 or 65 minutes And there is a difference in the signals generated...sometimes a big difference.
Below is today's chart update for TLT... first with 65 minute bars and then 60 minute bars.
Keep in mind there are more 60 minute bars than 65 minute bars with the chart s each set to a 100 bar lookback. As a result the lower 60 minute chart has been set to 115 bars to keep the 2 charts in phase..
Yes...there is a lot of nuance here but note the closing bars in each chart today as well as the offset in the Bollinger Bands.
