how to use tick charts?

Discussion in 'Technical Analysis' started by ADX_trader, Aug 29, 2002.


  1. Glad to help...I use "Omega supercharts real/time". I think all
    the Omega products create these charts. Also, I've been told
    "Metastock pro" draws these charts and I'm almost positive
    " Ensign Software"does, too.
     
    #11     Aug 29, 2002
  2. lundy

    lundy

    tick charts also give you a better view of what the eminis do overnight.

    my problem with tick charts is that I don't see the importance of a tick. A tick is a trade. So with tick charts, one tick is as good as the next no matter how much volume they each have.

    Volume tick charts seem better to me although I haven't used them, and I guess that would make equivolume the best.

    I started with minute charts, and for now I'll stick with minute charts.

    Can you imagine watching a 500 tick chart during the lowest volume part of the day? You'd be watching one bar forever. I like watching the bars unfold and knowing when the next bar will occurr.

    Minute bars are especially important when using a time based system rather than price based system. If I think the market will reverse in 4 bars, I can go out and eat lunch and come back just when my bar is about to open.
     
    #12     Aug 29, 2002