Tick counter. 12

#1

So , if i understand all this forex terminology correct , a tick is one change of a price. Right i am ?

Are there any known tick counters,indicators. ?

I think that a thing like that could be interesting, becs when the price starts to change , it is changing more and more rapidly. Breakouts for example are very rapid in their nature, and a counter or indicator like this can help catching them in an early stage.

I have almost no idea how is this possible to program, or how will it be used, all i have is this general idea.

#2

Wow! you’re the man Ravique. How great your idea is! Thanks you. That’s a brand new idea of tick-based indicator. I think we can use this indicator to tell whether there will be a possible breakout or not.

I’ll implement that indicator for you. What name do you like? “TickCounter” seems a bit simple. How about the “X”?

#3

Many people have thought about this indicator, I think, but all of them end up using the broker-given “Volume” at the end of, lets say, 30 mins timeframe. 30 mins timeframe is so late.

#4

well maybe we can implement this idea with my CCI? Probably a good way to use it is by calculating if it slows down. Like I mentioned before the CCI is a great tool to find when to start a trade but really sucks when it comes to closing it.

My idea is find a speed at which ticks move (and how far the tick jumps) and set a speed limit. If anyone has seen the movie Speed then this is what I am referring to. If the ticks go under a certain speed then the trade will close, aka the bus will blow up (for anyone whos sent he movie). So thats my idea, hopefully it can be useful

#5

I am glad that you liked the idea.

Scorpion: You are the " master of cool names " , you can think name it like you want it. If to think about the X , the name could be CountX or TickX or something like that.

Gazuz: If it will look just like i think it will, than it would be a nice improvement to many indicators and ( or ) systems.

Personnaly i have some ideas of how it should look like, i don`t know wich is the best one, how do you think it should look :

1). I should just plot the number of ticks in the comment part of the chart for the current bar

2). It should plot the number of + and - ticks in the comment part of the chart .

3). It will be a line or a histogram showing just the amount of ticks, or the amount of + / - ticks.

If to reffer to the last variant, i dont know wich point should be taken as the 0 point? If to take the open of each bar, then the line will be dropping up and down. If to take the 0 point as the open of the bar , when the calculations started, i dont know what will be then. I am afraid that in this case it can go far away from it , and trying using it would be difficult.

What do you think, Scorpion, Gazuz, and others ?

If i won`t be very lazy today, maybe i will take a pencil, count the ticks manually and try to illustrate my ideas .

#6

Hey you don’t need to get a pencil and count the ticks. Here it is XTicks custom expert showing numer of ticks (Volume).