Tick charts allow traders to gather information about market activity. You can see when the market is most active, and you can see when the market is barely moving. Tick chart keeps constant number of ticks per bar and with the indicator Energy Tick Volume provide an easy way of determining market volatility. Increased price movement and sudden slowdown with high energy tick volume can indicate turning points. Movement with low energy can indicate trend continuation. Very low energy - keep away from the market.
Tick Chart - the indicator allows trading on volume tick charts. On created charts you can trade as on standard charts of MetaTrader, candles have proper dates and time according to candle creation. Tick Chart respects daily and weekly gaps on a chart, so you can clearly see where session started and where was closed (with gap instead of huge candles). For collecting ticks from history is used expert Tick Collector in Tester. Indicator Energy Tick Volume allows you estimated price action. History volume bars of this indicator are created from bars on the chart. So for proper operations indicator Tick Chart, expert Tick Collector in Tester and the Energy Tick Volume are using the same folder TickHist in folder Files. When Tick Collector in Tester finished its work, activates Tick Chart, when Tick Chart ends creating bars, activates indicator Energy Tick Volume. If all works properly it is automated process. You don’t need copy files to their specific folders and initiate the indicators. How to easily create common folder TickHist with free program Symlink Creator you can learn from the video below.
- Password - password.
- Ticks per bar - you can choose any interval. If interval is equal standard chart period, then to the chart name will be added 1. For example, if you choose 60 tick then chart name will be M61. In that case volume of each candle will be equal 60 ticks.
- Subsequent instance - it is indicator identifier. No. of first instance need to be 1, another instances on the same chart 2,3,4 and so on. The identifier is used for refreshing tick volume charts when Tick Collector in Tester finished its work.
- Comment about currently writing ticks - true or false, the indicator can inform in upper left corner of the chart about currently writing ticks, current price, if 1 was added to the interval.
- Create chart while platform is starting - as default false. When platform is starting, probably collected data is obsolete, so you first need collect ticks in strategy tester.
How to use
- Attach indicator(s) Tick Chart to chosen M1 chart, which is used for collecting current ticks. In the tab 'Inputs' enter tick interval e.g. 75.
- If you attached more instances of the indicator to the same chart symbol, increase identifier of each another instance.
- From the MT4 menu select 'File' and from drop down list 'Open Offline'. Choose chart according to entered tick interval.
- Attach indicator Energy Tick Volume if needed.
- Run expert Tick Collector in Tester in strategy tester, when expert finish work all charts of the same symbol should be updated automatically. While updating, MetaTrader may not responding.
- You can easily create any interval tick chart.
- You can create many different tick charts of the same symbol.
- Bars on tick chart have proper date and time according to their creations.
- You can trade on tick chart like on standard chart.
- You ca use indicator Energy Tick Volume that helps estimate price action, as candle timer shows current spread , as background current bar energy, remaining tics and ATR.
- At one time expert Tick Collector can automatically update all charts of the same symbol.
- Together with charts are updated indicators ETV.
If you identify any bugs or if you have any questions or suggestions feel free to let me know. Feedback are most welcome.