Most traders who trade on MT4 never come across tick charts.
Tick charts are not available on MT4. Nor do we can go below 1 minute.
By never going below 1 minute timeframe we are ignoring lots of information.
Price moves very fast in milliseconds whereas we are looking at 1 minute charts.
Tick is the price change at the smallest level which can happen in a microsecond.
There can be 100 ticks in 1 second when the price moves fast.
When we deal with time charts, we ignore all this information.
This information could have helped us avoid losing a trade.
I have written a blog post where I show how easily we can retrieve this information.
Read my blog post on how to create tick bars and range bars using R.
This is what I do. I download the 1 minute data and use R to create tick bar charts.
Range bars were invented by a Brazillian trader in 1991 in an attempt to remove noise and clutter.
A range bar is created when price moves a fixed amount. Range Bar Charts are similar to Renko Charts.
