the Does this indicator work on a tick chart? Select Chart and Timeframe where you want to test your indicator. This information can be applied to any market that grants users access to volume information,.e. Forum Block Settings Show Forum All Forums Interactive forex trading asset management Trading Trading Systems Trading Discussion Platform Tech Broker Discussion Trading Journals Rookie Talk Grayed forums are not included when sorted by 'Hottest.' Display Format Threads Replies Display Items Sort By Latest Hottest Last Replied Most Replied Most. It took me years to even hear or think about that there might be other types of charts to be used that are much more advantageous, especially to day traders, than time-based charts. The (x) ticks view shows many times a different chart than the time-based view during the same time period. Only trade pretty charts is my favorite". Both charts start and end at 9 am and 4:02 pm, respectively.
This is because MetaTrader4, which most Forex traders use when they start out, does not offer any other charts. Select the Chart where is the Indicator running in your Metatrader Client. In fact, Ill make the case on why you should not use them, as they hardly contain accurate information. When using these two types of charts traders can choose to create price bars based on time or ticks. These one or two bars may not present the same trading opportunities as the several tick bars that occurred over the same time frame. What are tick charts, charts used for day trading can be based on several different criteria, some of them being time, ticks, price range or volume. Bar Chart, high and low prices, which are connected to each other by a vertical line, are also used to build bar chart. Day Trading, options, getty Images/Witthaya Prasongsin, traders have a number of options when it comes to which chart types they use. If we draw the main resistance trendline on both charts, we see that there is a significant break of the trendline on May 5th on the 2 hour chart. If the close price is lower than the open price, the body is colored in black (or another dark color, which is provided by the terminal).