the value of volume and range bars compared to time based bars is well known.
however,
range bars fall short when the market is in 'conflict' and a large
volume is transacting wihtin a narrow range - a range bar chart would
only show one bar and miss what a volume bar chart is showing - that a
huge line in the sand is being drawn.
however, sometimes (primarly
outside main trading hours - but happens regularly with U.S. futures
during the European hours) the futures price will move quite a bit but
because volume is low, only a few bars will be drawn.
when 'not
enough' bars are drawn, the action on the charts can get 'out of phase'
with the indicators.  but if time/volume/range were all triggers, it
would keep the chart "in tune".
i know there are others who have
requested a programatic solution to creating their own bars, and this
may be a good idea but very difficult to offer.
but my idea would be
much more straight forward for the great programmers at Multicharts to
implement and i thnk it would offer HUGE added value.