In this week’s training you are going to learn about tick charts and why they can give you an edge over the typical time based charts.
You will also learn how to add a tick chart on our trading platform – Informer.
What Is A Tick Chart?
Instead of each bar representing a certain amount of time (1 minute, 5 minutes, 1 hour, etc.), a tick chart is based on a certain number of ticks (price movements).
For example, a 10 tick chart means that each bar makes up 10 price movements up or down. So instead of getting a new bar every 5 minutes on time based charts, you only get bars when there is price activity.
In some cases it might take hours for a bar to print depending on the number of ticks you have it set to and the volatility in the markets.
Tick charts are similar to Renko and Range based charts, except they are not based on a certain number of pips.