Belly Indicators - page 2

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jeex:

Now you are too fast for me. I was still considering the concept.

Please quote the person that your are replying to . . .
 
RaptorUK:

Yes they are, but they are not Volume they are Tick Count.


Then what exactly is the tick count? Does it not tell us anything about the amount of changes or trades? Then what does it tell?
 
jeex:

Then what exactly is the tick count? Does it not tell us anything about the amount of changes or trades? Then what does it tell?
It tells us, during the formation of the candle, how many changes in Bid or Ask occurred, I have seen it written that other changes in symbol properties can cause a tick to occur but I can't confirm if this is correct or not.
 

@RaptorUK

Thanks. That's useful information.

 

jeex: Then what exactly is the tick count? Does it not tell us anything about the amount of changes or trades? Then what does it tell?

I can imagine sort of a BellyCandle where you can also see where most of the trading volume took place.

  1. Price Changed = tick. Tell us how many times price (Bid or Ask or both) changed during that bar. PERIOD. It does not tell us ANYTHING ELSE.
  2. Market Profile - MQL4 Code Base (based on ticks, not volume)
 

So the word Volume actualy does not fit the content. It says more about the volatility than the real trade volume.

Thanks all.

 
jeex:
I can imagine sort of a BellyCandle where you can also see where most of the trading volume took place.

Or is there a stick or indicator that does show this?

I had the same feeling about candlesticks...

Probably you are looking for something like this:

https://en.wikipedia.org/wiki/Box_plot

this not represent the actual direction of the movement, but we could add it as a slash / \ inside the body of the candle

Surely this is more descriptive way to represent the underlying data.

Maybe some experienced trader know some indicator like this.

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