I change 20% of my water once a month using a siphon to vaccuum the sandbed. There really is no need to do more frequent changes in my opinion (as long as your water parameters are on target). Trace elements are added back into the tank via water topoffs. I have to add 3-4 gallons a week to my 55 gallon tank.
As far as using water changes to get rid of algae, I'm not sure I completely agree with that. Algae requires many things to grow and water changes only reduce one of those things (nitrates). Algae also needs carbon dioxide (from poor water circulation), phosphate, etc.
Tips for eliminating algae:
-Install a good protein skimmer. Using a wet/dry filter or carbon power filter will trap detritous, but the water continues to flow over the media, thus allowing the detritous to break down and re-enter the aquarium water.
-Check carbon dioxide. Algae needs it to grow. With good water flow this won't be a problem. A good test is get 1/2 a gallon of tank water and aerate it vigorously for 24 hours. Test the ph of the 1/2 gallon and the ph of the tank. If the ph in the 1/2 gallon is higher than the tank by 0.2 or more, then you need more water movement in your tank.
-Clean the filter system regularily. Also do weekly-monthly siponing of the substrate. You can use a turkey baster to dislodge detritous stuck in your liverock.
-Add herbivores. Many species of marine life feed on algae. Some of these are: tangs, anglefish, some blennies, rabbitfishes, sea urchins, hermit crabs, and many kinds of snails.
-Don't use baserock. Microalgae very easily outcompetes macroalgae on base rock, and can spread.
-Use phosphate (phos-guard) absorbing media in the filter and change it regularily.