rich,
time is not relevent in a H/L P&F chart. Bricks do not have time dimensions. They only have price dimensions. If you want to talk about bricks based on Closing data, then that's a different matter because you need to have a time interval to have a Closing price. But you do not need time to define new Highs and new Lows, which is all that High/Low P&F charts use.
For example, assume brick size is $1, and assume the trend is up and the last brick was drawn at a price of $25 ( @ the top of the brick ). It will not matter how much time passes, 1-min or 10-min or 7.5-min or 1-day or 10-seconds or 1-second, but the next highest brick will not be drawn until after the next trade execution equals or exceeds (depending on interpretation) $26, and the brick will be drawn at the time of the event. If $26 is hit 7 seconds after $25, then it will be drawn at that time. If there is a gap up at the next trade execution in the next 45 seconds to $30 from the last brick of $26, then 4 bricks will be drawn all at once at that time of the gap. Do you think you should twiddle your thumbs for 4 minutes while you wait for the program to draw those 4 bricks? No. It would not make sense to wait because then your chart would be out of sync with the market.
If you still insist that H/L bricks require time intervals, then show me the proof in the form of a link.
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