Tick Change Charting

[Noam]

As you are all aware using the regular method of charting is not ideal specifically when the market is slow because momentum is showing a drop although its not always the case , causing us sometimes a bad divergence judgment.

the solution is using a chart which is based on tick change and not time base.

When using this type of charting you can trade in a slow market like lunch time or after hours with no problems.

Another advantage is that the chart usually is much more clean and clear.

Does anyone know if there is a program or a charting software that will contain this feature.

Thanks a lot

Noam

[ACM]

Re: Reply to post 'Tick Change Charting'

Noam
Yes it is called eSignal and it has the tick charts (as tick-bars or volume
bars) that you seek.
Alex

[Noam]

I am looking at TICK CHANGE

Hi Alex

Thanks for your reply but there is a huge difference between tick chart which is availeable in almost every charting software and Tick CHANGE chart.

For example-
I want a chart in which every bar will be composed of 200 tick changes - means - unless the tick has changed the chart won't even count this- and we can decide what is the sensitivity of the change.

I think that fibonacci trader has something similar but I am not sure.
Thanks again.

Noam

[ACM]

Re: Reply to post 'Tick Change Charting'

Noam
Select a chart and just type 200T (to use your example) or any number followed by a T or t and each bar will be made of 200 ticks (trades only) or of whatever other number you typed.
You can also type 200V (or any other number followed by a V or v) and in that case each bar will represent 200 shares/contracts (or any other number you typed) traded. The latter are also called Constant Volume Bars.
Alex

[gspiker]

As you are all aware using the regular method of charting is not ideal specifically when the market is slow because momentum is showing a drop although its not always the case , causing us sometimes a bad divergence judgment.

Bug statment. And like most big statements it isn't true. If you pick the wrong methods and indicators it might be true, but it isn't universally true.

want a chart in which every bar will be composed of 200 tick changes - means - unless the tick has changed the chart won't even count this- and we can decide what is the sensitivity of the change.

By this I assume you mean if the last tarde was at 45.00 and the next tarde is at 45.00 nothing is added to the chart. But if the next trade is anything but 45.00 then a new line would be added (on a 1 tick change chart)...

If this is the case, it should be possible to do a simple EFS to allow this on a standard tick chart.

G

[Momentum]

You're using it! eSignal Advanced Charts. Try the new 7.4 beta version as the charts have more features.

[Max]

Interesting Assumptions

Noam,

While it appears that you've gotten plenty of direction so far, I'll take a moment to add my 2 cents (and if free advice is free, why do they say it's worth 2 cents ;-)?

As you are all aware using the regular method of charting is not ideal specifically when the market is slow because momentum is showing a drop although its not always the case , causing us sometimes a bad divergence judgment. the solution is using a chart which is based on tick change and not time base.

I'm not sure that is the "solution", maybe the solution is stepping away from your screen and heading to the driving range. Maybe the solution is to trade a different market where it is more active at that moment, maybe (the one I generally choose) take a nap, read a book, walk the dog etc.

In my opinion, if I don't use tick charts for wave patterns (because waves include both price and time axis), then I wouldn't apply them to technical indicators either.

That said, and opinions aside; You may want to consider investigating the features and functions of Renko, Kagi, Point-and-Figure and TLB. You can read more about them both here (BB and File Sharing) and on the esignal features page.

[JayF]

Re: I am looking at TICK CHANGE

Noam,

Just in case this maybe what you are looking for try, "25P" for the interval. This produces a bar for each 25 price changes.

[maxfurie]

(P)rice change chart

The option to enter the # of price changes (ticks) does not work

for example try entering 10p - which is 10 price changes per bar

then open a time and sales window counting the price changes -

the result is garbage, I do not know what the "p" interval is counting but it is not Ticks, price changes or volume - it is pure garbage. I am trying to find out how to plot price changes in a histogram format on an Advanced chart and having no luck.

[JayF]

Our definition of the Price Change interval is each bar's data is made up of X number of changes in price. A change in price is defined as the last price is different then price before it. For instance, there are 6 price changes in the below screenshot.

[JayF]

There does indeed seem to be a problem. I'll investigate this further.

[maxfurie]

Thanks for the quick reply also ...

how about my idea to plot price changes on a histogram based upon those changes during a regual interval chart

ie - one minute chart - the bar has 20 price changes and the histogram would plot the number of changes (20)

so each minute (or whatever interval) would plot the number of price changes on the histogram

[JayF]

Attached is an EFS that will do what you are looking for. Once I hear back on the Price Change Bars problem I'll let you know.

Just to document an example of the issue, in the below screenshot you'll see a 1P chart. Notice how the Volume is 3300, but the price 82.36. If you look at the T&S, the 3300 volume took place at 82.37.

[maxfurie]

Thanks for saving my sanity .... I am new to efs programming and I developed a counter but it counted every tick!! Thanks again and have a great week!!!!!!!

Glen

[maxfurie]

Question for Jay

Jay,

I had another question .... In the price change histogram if I wanted to color the current bar red if it was less than the previous bar (if not less blue default is fine) how do I do this?

I consulted the efs help center and entered what I thought was correct but it does not work - what am I doing wrong?

thanks ...