Tick chart generator
A utility used to create custom Tick charts and provide real-time updates. This is an MT4 "offline" chart equivalent which is very simple to use.
You can attach any MT5 compatible indicator or template to the tick chart and perform your technical analysis.
Tick charts measure the number of transactions per bar. You can choose any number of ticks per bar but most traders choose Fibonacci numbers (1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233...).
The generator uses tick data to plot the historical tick chart for a particular setting and live ticks for plotting live charts. This method of calculation gives very accurate charts as no approximation is used.
The settings include
- Ticks per bar - Desired number of ticks needed for a new bar to form.
- Show history for number of days (0 to...)
- Synchronize first bar's open on a new day (yes/no) - Synchronize the first candle's open price with the open price of the daily candle.
- Override default custom chart name with (chart name)
Free demo version can be downloaded from https://www.mql5.com/en/market/product/30219
Free countdown timer for the chart can be downloaded from https://www.mql5.com/en/market/product/60156
Added option for building a renko chart for backtesting purposes only.
Changed time resolution to "seconds" (improves timescale resolution)
Numerous bug fixes