TICKS clarification

[strtedat22 10]

hello,

 

can anyone explain the difference between tick numbers????...example: 610, 210 tick charts...

 

thanks

[namstrader 10]

I believe that it is just the difference of issues that are up vs. the issues down at that moment. So a 610 tick reading means more issues up ticking than at a level of 210 and a more upward bias in the market sentiment or market internals.

[Soultrader 12]

  strtedat22 said:

hello,

 

can anyone explain the difference between tick numbers????...example: 610, 210 tick charts...

 

thanks

 

Hi,

 

TICK charts are just the number of transactions per bar. So a 610 tick chart plots one price bar per 610 transactions whether each transaction is for 100 lot or 1 lot.

 

I think nams was thinking of the NYSE TICK chart.

[namstrader 10]

Yep, sorry for the wrong reply. Bar charts vs tick charts, I am more a tick chart kind of guy and impetuous with my responses, quick on the trigger with trades also and learning to hold rather than grasp.

[thrunner 10]

  strtedat22 said:

.example: 610, 210 tick charts...

It is a matter of preference. Some traders believe their indicator or candlestick analysis has an edge in certain time frame/ tick/ volume bar charts such that they can see details better/faster than other traders. It all depends on the style of trading. Some trend traders for example would rather not see the noisy minute details of a tick chart used by a scalp trader and instead prefer a longer time span to see the longer trend.

[SunTrader 10]

Ticks charts take the time equation out of the picture. A 610 tick on the ES mini S&P covering the overnight globex session may have between a few to maybe a dozen price bars - the timeframe being twice as long as the day session itself. Then during the day session there is generally 200-400 bars.

[strtedat22 10]

  SunTrader said:

Ticks charts take the time equation out of the picture. A 610 tick on the ES mini S&P covering the overnight globex session may have between a few to maybe a dozen price bars - the timeframe being twice as long as the day session itself. Then during the day session there is generally 200-400 bars.

 

since it takes the time out of the equation how is it an edge over a person using candles???

 

Thanks for the other replies guys/girls

[SunTrader 10]

  strtedat22 said:

since it takes the time out of the equation how is it an edge over a person using candles???

 

Thanks for the other replies guys/girls

Ticks determine the size of the bar, not the shape. In-other-words a 610 tick (or any other number) bar can be a either OHLC bar or Candlestick. Doesn't matter.

[januson 10]

I use both tick charts, seconds, minutes and day charts.

 

My main attention goes to 540 seconds, if that looks ok, I determine my entry point from a tick chart. The minute chart I use 53 min as resolution, which give me an excellent overall view of the main trend. I use the day chart to indicate what kind of trade I should primarily take, short or long.

 

I would also like to mention that different resolutions, sure gives different candlesticks and thereby also different patterns. So allways remember to use different charts to be sure of whats going on

 

oopss.. forgot to mention that a tick actually is a trade, either to buy or sell side. Don't confuse a tick with a quote

Edited January 6, 2008 by januson
forgot an important notice

[SunTrader 10]

  januson said:

I use both tick charts, seconds, minutes and day charts.

 

My main attention goes to 540 seconds, if that looks ok,

What platform allows for seconds? Realizing 540 seconds = 9 minutes of course.

[januson 10]

I use MultiCharts from TSSUPPORT.

[strtedat22 10]

Thanks,

 

Im a swing trader=hold time: a couple of hours to a few days no more than a week. I make my entry on a 3 minute time frame. I only use DOM, Pivot Points, and RSI. Whats a recommended TICK number for my style of trading?

 

Thanks,

strtedat22

[strtedat22 10]

  strtedat22 said:

Thanks,

 

Im a swing trader=hold time: a couple of hours to a few days no more than a week. I make my entry on a 3 minute time frame. I only use DOM, Pivot Points, and RSI. Whats a recommended TICK number for my style of trading?

 

Thanks,

strtedat22

 

I'll scalp if the above conditions are met along with swing trading.

[LS_Chad 10]

Here is a good breakdown of various periodicities, including tickbar:

 

https://www.linnsoft.com/tutorials/periodicities.htm

[SunTrader 10]

Really depends on the market traded and what size movement are are trying to capture. In other words its more personal choice.

 

Popular sizes are fib based 89, 144, 233 and 610 mostly.

[strtedat22 10]

  SunTrader said:

Really depends on the market traded and what size movement are are trying to capture. In other words its more personal choice.

 

Popular sizes are fib based 89, 144, 233 and 610 mostly.

 

with those numbers that you just provided, which are best for a scalper/swing/longer etc???

 

Thanks,

strtedat22

[strtedat22 10]

  LS_Chad said:

Here is a good breakdown of various periodicities, including tickbar:

 

https://www.linnsoft.com/tutorials/periodicities.htm

 

holy crap...good stuff LS

 

Thanks

[SunTrader 10]

Again it depends on the market and personal choice really, but generally a 50 tick or 89 tick bar would be used for scalping. And to gauge the longer trend during the day 610 ticks probably. I wouldn't think tick charts would be very effective for anything over a 1-3 days as far as swing trading and would use 610 for that.

[strtedat22 10]

  SunTrader said:

Again it depends on the market and personal choice really, but generally a 50 tick or 89 tick bar would be used for scalping. And to gauge the longer trend during the day 610 ticks probably. I wouldn't think tick charts would be very effective for anything over a 1-3 days as far as swing trading and would use 610 for that.

 

 

thanks for the info Sun and everyone else

[zakariawaiz 10]

anybody know good book about tick bar

[januson 10]

  zakariawaiz said:

anybody know good book about tick bar

 

A tick can't be modelled into a bar, but a bar will consist of 2 or more ticks.

[SunTrader 10]

  januson said:

A tick can't be modelled into a bar, but a bar will consist of 2 or more ticks.

 

So what are you trying to say.

[januson 10]

Bardata needs an open, high, low and close and timestamp before it is can be drawn like a bar, I'm sure you know the concept from OHLC.

 

A tick is just a price, volume and timestamp. But as I mentioned if you've 2 or more ticks then it can be expressed as bardata!! (all bar data is aggregated tick data)

[januson 10]

Bardata needs an open, high, low, close, volume and timestamp before it is can be drawn like a bar, I'm sure you know the concept from OHLC.

 

A tick is just a price, volume and timestamp. But as I mentioned if you've 2 or more ticks then it can be expressed as bardata!! (all bar data is aggregated tick data)