Tick counter.

 

So , if i understand all this forex terminology correct , a tick is one change of a price. Right i am ?

Are there any known tick counters,indicators. ?

I think that a thing like that could be interesting, becouse when the price starts to chage , it is changing more and more rapudly. Breakouts for example are very rapid in their nature, and a counter or indicator like this can help catching them in an early stage.

I have almost no idea how is this possible to programm, or how will it be used, all i have is this general idea.

 

Wow! you're the man Ravique. How great your idea is! Thanks you. That's a brand new idea of tick-based indicator. I think we can use this indicator to tell whether there will be a possible breakout or not.

I'll implement that indicator for you. What name do you like? "TickCounter" seems a bit simple. How about the "X"?

 

Many people have thought about this indicator, I think, but all of them end up using the broker-given "Volume" at the end of, lets say, 30 mins timeframe. 30 mins timeframe is so late.

 

well maybe we can implement this idea with my CCI? Probably a good way to use it is by calculating if it slows down. Like I mentioned before the CCI is a great tool to find when to start a trade but really sucks when it comes to closing it.

My idea is find a speed at which ticks move (and how far the tick jumps) and set a speed limit. If anyone has seen the movie Speed then this is what I am referring to. If the ticks go under a certain speed then the trade will close, aka the bus will blow up (for anyone whos seent he movie). So thats my idea, hopefully it can be useful

 

I am glad that you liked the idea.

Scorpion: You are the " master of cool names " , you can think name it like you want it. If to think about the X , the name could be CountX or TickX or something like that.

Gazuz: If it will look just like i think it will, than it would be a nice improvement to many indicators and ( or ) systems.

Personnaly i have some ideas of how it should look like, i don`t know wich is the best one, how do you think it should look :

1). I should just plot the number of ticks in the comment part of the chart for the current bar

2). It should plot the number of + and - ticks in the comment part of the chart .

3). It will be a line or a histogram showing just the amount of ticks, or the amount of + / - ticks.

If to reffer to the last variant, i don`t know wich point should be taken as the 0 point? If to take the open of each bar, then the line will be dropping up and down. If to take the 0 point as the open of the bar , when the calculations started, i don`t know what will be then. I am afraid that in this case it can go far away from it , and trying using it would be difficult.

What do you think, Scorpion, Gazuz, and others ?

If i won`t be very lazy today, maybe i will take a pencil, count the ticks manually and try to illustrate my ideas .

 

Hey Ravique, you don't need to get a pencil and count the ticks. Here it is XTicks custom expert showing numer of ticks (Volume).

Files:
XTick.mql  2 kb
 

Thanks. Will check it out.

 

Maybe if this is an awsome indicator you can call it Xtatic

 

I've thought of this strategy a whiel ago but never really had the chance to implement. For forex, obviosuly we can't use volume as noone has the total volume being shifted globally. You can look to the volume on the futures exchange but that again will not always be representive of what is happening in spot. The best way of achieveing an indicator like this would be if you have bloomberg. Via the aPI wou can set up a link with real time quotes for any number of securities. So if you subscribe to EURUSD, you will receive a price from bloomberg for every tick from any of their pricesources (of which there are loads). A good example of this (which is unlikely to be tradeable) would have been a few weeks ago when the white house was evacuated. IBFX prices were trundling along with the usual 1 tick per second then suddenly bloomberg prices started going wild as all the price sources are pushing through new quotes. You woudl have had a split second to get a trade in on ibfx before they caught up.

 

This is interesting... The best way to make this strategy practical is to use fast and unfiltered quotes. I'd love to do some more research on this with different feeds. Any idea which feed should I use?

 

Offtoppic : That`s it. I`m done celebrating and i am back in the game after a wild week =)) .

Topic : I have some ideas about tick counting, but still i want to check em up first , and if my manual results will be interesting in any kind, i will post them. I think i will do it this week.

I think we should pay attention on researching this subject, becouse it may be very useful. becouse most of the indicators use ohlc data, and most of the indicators don`t work coorectly.

We`ll c next week .

Reason: