My preference is to trade using time based charts – 30-minute, 5-minute and 1-minute. Largely it’s just due to personal preference. I gain a greater feel for price action through the time based charts, in particular noting the changes of speed through greater movement in a unit of time. Plus there’s also the fact that I believe more people are watching the time charts than tick charts, so I want to see what they’re seeing (if you have data to prove otherwise, please let me know).
However there are some times when I find it greatly beneficial to see a differing view of price action.
Sometimes when I’m just not feeling the bias well I’ll change the view to gain a different perspective. Remember, it is the same underlying price action; you’re just viewing it differently.
The main time though is when price experiences a sudden explosion in volume and volatility, such as occurs following news events or economic releases. In this case I’ll still monitor the time based charts, but they’ll take a second place to either tick charts and/or range charts, which tend to give me greater insight into the forces within the larger-range time-based charts.