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Why Tick Charts instead of Time Based Charts? or other chart types
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View Poll Results: What chart type do you usually use for your day trades?
Time based charts 59 30.73%
Tick charts 78 40.63%
Volume charts 21 10.94%
Range charts 18 9.38%
Renko charts 16 8.33%
Voters: 192. You may not vote on this poll

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Why Tick Charts instead of Time Based Charts? or other chart types

  #31 (permalink)
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I'm still deciding. I have been looking at tick and second charts, but I also like PnF charts. PnF seem good for S/R, but not so great for seeing exactly where price is on entry (visually). Yes, you can see price, but the chart itself is not so exact when price is in a range of Xs o Os.

Not sure how to trade Range charts yet, or Volume - are there tutorials here on how to use those two?

Do Volume charts work in Forex? I just tried it in NT and the chart is doing very strange things, extending way off to the right...


Last edited by peaceland; September 28th, 2012 at 01:09 AM.
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  #32 (permalink)
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Zondor View Post
Tick Charts – 5 Compelling Reasons To Use Tick Charts

No endorsement of products sold on this site is meant to be implied.

I have been told, as most of us, if we're honest with ourselves, that others or "we", just don't want to hear another thing we have to say, and to that I say, simply, why not?

I used to really tag tick bars as almost worthless because they hid volume from being a factor,

rarely in those discussions, do they tell you that they make up for that by using another panel with some volume measurement to compensate for the obvious tick short-comings

perhaps with that being said, I vote Tick

the benefit really shows itself on low volume securities / contracts in the over night session, as not polluting the charts with so much blank space

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  #33 (permalink)
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I use Tick or Volume based charts,I get a better feel of what price is doing.Occasionally I use the Daily chart to look at the bigger picture.

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  #34 (permalink)
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kronie View Post
I used to really tag tick bars as almost worthless because they hid volume from being a factor,

rarely in those discussions, do they tell you that they make up for that by using another panel with some volume measurement to compensate for the obvious tick short-comings

In a traditional constant-time-per-bar chart, a histogram at the bottom shows volume per period of time.

Well, in a variable-time-per-bar chart (tick, volume, etc), even though volume per bar is either identical or very similar, there is nothing to prevent a user from displaying the same volume per period of time value as can be shown on a regular chart (except perhaps having a study/indicator that calculates this value). I'm surprised more people who have tick-based chart don't have a volume per time value, as to me volume as a function of time is one of the most useful pieces of information to know.

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  #35 (permalink)
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My reason for preferring tick charts over time charts is as follows. With tick charts I can easily find a trend during the overnight that will often be in play the whole next day. Whereas price charts (the 1 min for example) is spread out and doesn't show the concentrated form of a tick chart overnight and thus often doesnt show distinct trend lines

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  #36 (permalink)
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shots fired View Post
My reason for preferring tick charts over time charts is as follows. With tick charts I can easily find a trend during the overnight that will often be in play the whole next day. Whereas price charts (the 1 min for example) is spread out and doesn't show the concentrated form of a tick chart overnight and thus often doesnt show distinct trend lines

But isn't a volume chart better for that?

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  #37 (permalink)
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Fadi View Post
But isn't a volume chart better for that?

I don't know I have never considered volume charts I will have to explore that option.

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  #38 (permalink)
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My ideal chart for day trding would combine types. Tick or volume to condense the data between 4:15 and 9:30 NY time and a good old 5 minute chart for RTH.

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  #39 (permalink)
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When using the equivalent ratios, tick charts and volume charts provide a near mirror image of each other. There's really no difference in perspective. The underlying reason for each bar being formed is obviously different but upon visual reference they can be one in the same. Time based charts however will provide a different perspective.

For the charts below, guess which one is the volume bar chart and which one is the tick bar chart.

Chart #1

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Chart #2

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  #40 (permalink)
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Tick charts are my least favorite..anything but



Zondor View Post
Tick Charts – 5 Compelling Reasons To Use Tick Charts

No endorsement of products sold on this site is meant to be implied.

Tick charts as a "proxy" for volume for forex which is traded on a decentralized networks is a ridiculous statement.

Tick charts..... in an algo world? Really where big orders are broken up into smaller orders to hide size.

Range charts for use with indicators is a good match. There's not a lot of distortion since the bars are as close to tape reading relative to price. It reveals nothing about volume per se unless integrated volume width candle scaling is available. Price is what you trade and range bars give you just that, nothing else pure tape price action.
There is fewer "candle type formations with range bars than with time based bars....but just as signifigant

Volume bars are good for volume/ price spread analysis, CD, VMP and represent the "mass" of the market. Its a major component but not as good as range bars are for indicator divergences etc, but ok.

Time based bars are good for forex where there are a lot of market opens and closes around the globe.
They also show point in time and momentum/acceleration surges; but as a result distort indicators.
Good for time/price target projection. The characteristic candle "formations" are many and directly relate to time.

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