The intent of this indicator is to count the number of ticks in a non-tick based bar. So, placing this indicator on a 5 minute chart will count the number of ticks during that bar and display it as a histogram in it's own panel. There is also a plot representing the average number of ticks over a period that is specified in a parameter. You also have choice of how you count the ticks. The default is to count every tick but can be changed to count the number of times price actually changes.
This indicator works on historic as well as live data.
Again, this indicator can be used on any bartype.
Actually I have no idea if this information is useful at all. I think it might be to help identify areas where activity might indicate momentum.
Note: @TimeTrade mentioned that this indicator only gives wrong results. So, I did some research to figure out why he said that. I contacted him and got his point of view then I compared the tick count in his t4tBarCalc01 indicator with my TicksPerTimeFrame indicator and noticed a discrepancy on some bars by a few ticks. I physically counted the ticks on those bars where there was a discrepancy and found that my indicator counts correctly.
Category The Elite Circle
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