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Help me stop obsessing over TICK charts!

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burlington, vt
Trading Experience: Advanced
Platform: Sierra
Favorite Futures: NQ
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TraderJohn66 View Post
I am scalper obsessing over whether to use TIME, TICK or VOLUME bases candles. I understand the benefits of all three but what I don't understand is why so many people use seemingly random TICK settings. At least in a TIME chart there are just a few common time frames like 1M, 5M, 15M etc.

Could someone please give their insight as to wether or not TICK charts are even necessary?

There is no right or wrong answer. That is the answer.

On some days, the Tick chart would look better to you (in hindsight). For others, the time chart.

People are a bit too quick to dismiss time charts. They are great at showing fast volatility whereas on tick/volume charts you would have to often figure out the time spent on each bar. Also, volume on the chart, if you have an edge with it.

Personally, I use a combo of volume charts and very fast timeframe time charts. I also keep a time chart up of the same frequency as the volume chart just to see a different perspective.

If you don't want random numbers, simply choose a timeframe you like to trade on, put volume on the bottom of it, and a high period m.a. over the volume. Set your volume chart to that average. Now you have a volume chart that should be a similar frequency to the time chart of your choosing.

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