That might be dependent upon what your friend means by 'tape'.
'Elastic adhesive bandage' is probably what he's referring to. Yes, it might help but getting the tension just right isn't particularly easy. (Too loose and it doesn't provide the support you need. Too tight and you you won't have sufficient movement).
I've used the stuff myself (when refereeing football matches). I came o the conclusion that (although less bulky) it wasn't any more effective (and possibly less so) than using a traditional crepe bandage, secured at the end with adhesive tape.