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If we look carefully at price and time, we can notice that they are closely connected. A common price-time chart allows to calculate Bradley Cowan’s Price-Time Radius Vector Indicator with the help of Pythagorean theorem. It states that the sum of the squares of the legs of a right triangle is equal to the square of its hypotenuse. In our case, price and time are the legs and the hypotenuse is PTV (Price-Time Radius Vector).
On the example below you can see how to calculate this indicator. We have start point A, we know that the length of cut AB is equal to 196 points for 35 hours. We calculate PTV of BC, which is equal to 199. Structure is ABCD or ABCDEF.
All PTV values are approximately equal for AF segment. There are deviations in length sometimes, when PTV is overlapped or shifts. It complicates the analysis. The more experience you get the easier it will be to define the initial point of PTV, even if it is located in the field of previous radius-vector. More details you can find in the works by Bradley Cowan. The beginning or end of one PTV should not necessarily match the beginning or end of another PTV. In other words, vectors can overlap or deviate from each other.
To make PTV equation visible on a price-time chart, it is required to have axises of price and time in the same scale. In other words one price unit must match one time unit. When scale of axises do not match, vectors will be distorted.
PTV is not limited by one chart, and there are no limitations for size. Big PTV includes small PTVs. We have specific PTV of black BC segment, which also can be calculated in more details. We have got three segments AB, BC and AC and can calculate CD on this base with the same formula.
In this case we exactly have got inequation between all Price Time Vector segments, BC is much smaller than AB and AC. When the angles between PTV and time axis decreases, the time component increases and the price component decreases. That is to say, the time component of BC is more than the time component AB, whereas the price component BC is smaller than the price component AB, because price and time move to the counter-balance.
On the base of PTV on the previous image, having two segments AB and calculated CD, we build an ellipse, and will get segments DE and EF on the orange ellipse and DE on the green ellipse. When price reaches D point, DE segment will be known.
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