Indicators based on tick charts?
I have some ideas to share. I think, it is imposiible to win continuously with indicators based on candles. To eliminate discontinuety partially, indicators related with tick charts can be useful. Any idea?
I downloaded the indicator "Ticker Awesome Ocillator" (see chart). Works great but I can't seem to be able to interpret it's meaning. Can anyone tell me what bars above zero or below zero mean and why some are green and some red (buy/sell?)?
Thanks in advance.
It is a cool idea ,thanks.
a cool indicator
Tick_on_Chart i all TimeFrames :cool:
Hey, I'll be happy if you will help me and explain me how to attach this indicator into my chart, I downloaded it but I don't know how to use it for next step
Store the data and write your own hst file. I set one one on my renko builder to one pip as shown in this image. It will not draw a one pip bar because Renko bars are not like that however same principle will work just write the o, l, h, c as the tick value. Then draw it as a line chart. Easy.
Although there are a lot of different approaches to using tick data on Metatrader, I do not see much like my own approach and as such, I thought that maybe I should share some of what I have done. Perhaps someone out there may find this useful so, here goes...
The first problem with tick data is the display and to solve this, I created my own indicators.
Remember that this indicator is linked to the actual "quote" price (ask & bid) and not the history inside Metatrader.
As such, when started the screen will be black - it may take a "few minutes" for the required 200 ticks to come and fill the screen.
On FXCM I typically have to wait around 2-3 minutes, on IBFX usually around 10-15 minutes and, truth is, these are where I have live accounts so, don't really know much about any other brokers.
Included, a screen copy, the price indicator and template files.
Just copy the indicator to the indicator folder, open a new chart, load the template and go have a cup of tea...
Thanks for this nice tick chart
Some indicators for the tick data screen above
Volume and tick data
When it comes to volume, personally I think that really what I'd like to see is that single tick with some "substantial" volume behind it.
As such I actually maintain a volume count and compare this to actual price.
This seems to be a "fast" - leading - indicator but apart from that, I try to find only ticks that lead to a "large" price change and is "supported" by a "large" volume as well.
To be honest - this is part of my live trading systems so, any comments would be appreciated...
A screen copy of all the indicators I have posted (about tick data) on this thread.
Remember to use the template file.
Hope someone out there may find this useful in some way.
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