These both are different method but LV bar is more powerfull. I had written somewhere, that though you would get LV bar trades also regularly (at least once a day) in HTF (500 Tick charts here) the SL would be too far away. What you can do (if you think so) is use the LV bar level of 500Tick charts but trade it using SL of 50 Tick charts. Because there can be and there will be whips too but we want these losses to be small.