Tick chart strategies reddit forex. There’s no right or wrong or better or worse way.
Tick chart strategies reddit forex. com, a trading forum run by professional traders.
Tick chart strategies reddit forex Tick charts don’t differentiate transaction sizes; 1 contract or 100 contracts or more can still just be viewed as a single tick. I use tick charts because they show price action in a more coherent way that just clicks with my brain. tick charts are not time based. You need to understand that tick charts are trade based and NOT time based. TICK chart doesn’t necessarily = sub-1’m chart. Like, seeing levels that don't break. Range bar charts are the tick charts you want. It’s about finding the way that works best for you. com, a trading forum run by professional traders. Generally the ES with an 8-12 tick stop, NQ with a 10 point stop. . Beyond that I use 30 tick range chart with NQ and 10 tick with ES. They are based on the number of trades. I also use renko charts to find support and resistance Just learned about tick charts and think they could provide a lot of information like seller/buyer exhaustion but not sure. tick charts are similar to volume charts. I’ve been experimenting and trying to figure out if tick charts are better or worse than time based charts, like 1 minute charts. Tick, 2000. Right now I am using the 200 tick chart on big companies such as AMD NVDA PLTR and Amazon. I scalp futures, Tick charts are useful for the first 30 mins of market open, after that 1m chart is fine Not really. Been trading the ES and the NQ for years successfully. How the price moves is way more important to me than when the price moves. And as mentioned, tick chart can be helpful for extreme scalpers wanting to try to see more patterns. So yeah. 5 min chart for the setups, enter on the 5 or the 3 min. I use 2000 tick chart for ES (and roughly 1000 for MES) and scalp similar to the style of Thomas Wade. Those are tick charts. Tick charts aren't time dependent but based on orders to price, so low volatility slower candles, high volaility fast candles. Tick charts are not time based at all. As of now I have two monitors. Tick charts can sometimes refer to volume bars (tick volume) or range charts. I'd say it's more lack of understanding than overlooked. standard time based charts. The difference is that in a 100 tick chart could technically have higher volume per 100 trades because it is based on # of trades. com's Reddit Forex Trading Community! Here you can converse about trading ideas… Welcome to FXGears. Every time I glanced at this I assumed it meant tick charts. Not having used a tick chart before and I've been following a couple of youtubers who specifically use the 2000 tick chart for price action trading. The help documentation available is kind of weak. Tick based chart's biggest concern is that each broker will give very different view vs. Easy peasy I used tick charts for a stint , where it seemed somewhat helpful with currency futures where regular volume isn't shown due to the underlying being forex. 1. For you. The PATs website teaches the strategy. You use them to see hidden sellers or buyers. A real Renko chart doesn't redraw with timeframe changes, but TradingView uses the close price with ATR Welcome to FXGears. This indicator is widely available on most trading platforms and can be applied to diverse financial instruments, including stocks, forex, commodities, and cryptocurrencies. Those who favor tick charts see the same things you see, but in a way that makes more sense to them — the same way that time charts make more sense to you and tick charts don’t seem to make as much sense to you. Whichever looks better. Check them out on TV. Using ONLY the 50 ema and the Hull moving average. How do you determine the best tick chart to use. Range bars are at the very end or bottom of the list immediately after the "DAYS" category of bars. Better to say range chart or volume chart. I've since stuck with time charts as they are nicely fractal. Time Irrelevance: Tick charts are not based on time intervals, which can be a disadvantage for traders who rely on time-based analysis or use indicators that require time inputs. So range chart (what I meant by tick chart above) is non time based chart. Try a range chart set to 2x what you set Renko to (if you currently use half an ATR, switch to a full ATR) and you'll be able to trade and backtest with more fun. For MES or ES, try a 10 or 12 tick range. Tick charts only. To scalp SPY, try 25 or 30 tick range. Tick charts would enable us to better identify entry and exit points, improve risk management strategies, and ultimately enhance our Volume chart takes into account every single contract in every order. Awesome feedback man, thanks for the advice! However in your opinion. H/S, traps, and wedges. (so a 100 tick chart will update once 100 trades have been made). com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! ---- /r/Forex is the official subreddit of FXGears. 1 order of 200 contracts prints 2 candles, 100 orders (1 candle on 100 tick chart) of ~5 contracts avg volume prints 5 candles. I use the PATs strategy on the 2k tick chart. First thing that came to mind is to just go through the chart and start moving forward, simulating a trade and logging if the strategy wins or loses. One shows the macro of the asset, 10 day 30 minute. I tried what trades by Matt uses the 22, but to me it's a lot like using like a min chart. Traditional TA on short term tick charts Basic trend following on 5 minute bar charts (21/8 MAs) 5 minute and 3/ minute Volume Profile (support and resistance levels, or high volume nodes for mean reversion trades, and daily volume profile for traditional profile analysis. I dropped down to the 1min for the hell of it, and had an epiphany as my strategy will work so much better on the 1m when it comes to my entries and signals. The stop being behind the last market structure. I actually did this in a 15M chart for a range of 3 months, and while the results were enlightening I’m curious if people utilize higher tick charts such as the 1,000,000 to do analysis? For example, today we broke the up trend on the daily chart for ES, but yet on the 1,000,000 tick chart, which sort of closely resembles the daily, stayed within the trend and bounced off the trend line. Think of them as a visual time&sales, without the spoofing/faking that the level 2 has, cuz these are orders that actually went through, unlike the level2. Are there any softwares out there that allow you to trade forex using tick charts? Also, what would be the best and closest time chart for scalping forex? The 5 min chart? Looking for something where the price action is almost similar to the 2000 tick chart. May 7, 2024 · The Tick Chart Indicator is a pivotal tool that transforms raw tick data into a visual representation on a price chart. It’s a platform that’s gives you an alternative method of viewing a chart and order flow. This time irrelevance can limit the effectiveness of certain tick chart trading strategies that depend on specific time intervals or Welcome to FXGears. Share futures trading insight, tips, and your trades!. I like the descriptors he uses: lips, teeth, jaw. The only thing I like better than tick charts are range bars but most platforms don't support them. Jan 14, 2024 · In this article, we will look at the basics of tick chart trading, including how tick charts work, the advantages of tick chart trading, and some strategies that traders can use to take advantage of tick charts. I'm new to the forex trading and one of the advices that I often come across is to always backtest a strategy first. Tick bar only occurs when there is a change in price, but with brokers like Oanda and FXCM, the price is determined internally while hedging externally (the rate of which ticks are generated will vary from different sources). I have a range chart aside. I can speak on this as a full time futures trader who utilizes tick charts every single day of the trading week. By incorporating tick charts into the TradingView platform, you would not only bridge this gap but also empower traders with a powerful tool that can unlock new opportunities and refine existing strategies. The strategy is simple : if the price wants to go up and is succeeding - I go long and stay with the ride as long as I can. Nov 20, 2024 · I swapped over to the 2 min chart recently and liked it. (Well, TVs version of it) They're not used like a regular chart. Posted by u/Crysto1 - 5 votes and 11 comments May 9, 2024 · Disadvantages of Tick Charts. But I like the 2000 tick, tried that after watching day trader next door, as that's what he uses as a trigger chart and he had a very good thesis on why he uses it. I don’t really see the upside in using tick charts for spot FX since there All I can say is open a 100 tick chart and open a 1minute Chart and see which gives a clearer picture of price structure , lower lows , higher highs and so on and how early are those signals to get into a trade. If I had a 80" touchscreen, I would use a 1 tick chart. Let's Talk About: Exchange Traded Financial Options -- Options Fundamentals -- The Greeks -- Strategies -- Current Plays and Ideas -- Q&A -- **New Traders**: See the Options Questions Safe Haven weekly thread Welcome to FXGears. And I see nothing related to "Real Time Tick By Tick Push Data" either. I think the number of ticks depends on the symbol and hour of the day. 100 vol chart prints a new candle every 100 contracts traded. a full Today:1min chart of SPX a 10-25 ticks per candle 15-30 minute trailing history chart of SPX another tick chart of the option I’m actively trading an Active Trader window with Times and Sales (thinkorswim desktop), and a custom watchlist I create daily with 3-4 slightly in and out of the money puts and calls from the chain. Thanks! Welcome to FXGears. TV SET THEM UP SEVERAL YEARS AGO. It’s an interesting strategy. Curious on the effectiveness of tick charts from some of the more experienced members of this subreddit as well as tips when using them. Trading View has been popping up messages everywhere about going PRO for "Real Time Tick By Tick Push Data". Hey thank you for sharing! I’m glad it’s been profitable for you. For the most part, I use constant volume bar charts. They form bars based on a user-defined number of contracts being traded rather than a user-defined number of transactions (which is what tick charts do). Welcome to FXGears. If you are using indicators this is an extremely important factor you have to consider since a majority of indicators were designed to be used with time as a function of the output of the indicator. Get app Get the Reddit app love trading on here but I really need a 2000 tick chart for my strategy options, futures, EFPs, futures options, forex, bonds, and Welcome to FXGears. Simple entries. If one was to place trades off a 30 second chart, and use a 100 tick chart to help oneself determine his specific scenario he’s looking for to place those trades to determine if it’s in a range bound or what not. 339K subscribers in the Forex community. I use hieken ashi tick charts along with my regular tick charts to smooth out price action, strength of trend, support and resistance, etc. I'm also part of a group on the chat platform everyone uses but can't be mentioned here, PATs is the name of the group. There’s no right or wrong or better or worse way. Renko tends to be overlooked and underestimated in my opinion. You can find them under the bar type selection menu close to the top left hand side of any TV chart. So if someone bought 2000 contracts it would fill a bar on a volume chart, but it would only be 1 transaction on a tick chart Like everyone else has said, it’s all personal preference but I like using tick charts because it gives me a better feel for the price action compared to a time based chart. There's major issues, like TradingView has Renko that isn't actually Renko because it generates from close price of timeframe rather than tick. All exotic charts (Renko, Heikin Ashi, Point and Figure, Kagi) have similar issues. Then wait until you see a trend being broken and act accordingly Welcome to FXGears. I upgraded to PRO, but I see no tick charts. I don't use time charts shorter than 5 min. Volume charts produced too much noise Welcome to FXGears. I can see why it delivers. Have tick charts in multiple tick frames. The guy who developed the strategy does chart reviews discussing price action and good entries at the end of every day. Unfortunately my tradiing platform only has time based charts so my question is what might be the closest resembelnce to a 2000 tick chart if you had to pick. So, OP, be sure to not take whatever ppl say as fact. I don’t have access to tick charts unfortunately, but I added the indicators to a time chart to feel it out. I trade futures using a 2000 tick chart. r/FuturesTrading is a place to discuss futures, commodities, etc. I use these and time based charts on my screens. Tick chart name is a bit confusing and people can mean different things because tick can mean volume (tick volume in forex) or tick as in smallest unit of movement like in futures. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! Welcome to FXGears. Imagine your standard candlestick chart on any platform, now overlay the level 2 data, time and sales and transaction volume on top of the chart and throw in a heat map with a bunch of colors, that’s what Bookmap is. One tick = 1R or 1 range bar. Range charts are useful since it smooths out price action on very fast moving markets, also it makes reading volatility easier since the candle length is constant, with time charts this is not so quick to see. This gives me a nice overall picture of the recent two weeks of trend and price action. The 1min, 3min or 5 min charts? Welcome to FXGears. For daytrading always try to look at the week/month chart to see what the ‘big trend’ is, then on the 15/5 minutes chart go look for strategies, draw trend lines, use fibonacci or look for other indicators. zjbkmnoyjmbbkwowtljpkpjqtwadyadbotjcogczmhvm