Tick Chart Weighted Indicator

Tick Chart Weighted Indicator

Tick Chart Weighted indicator suitable trend direction indicator. Free download. It gives straightfowrd east to read signals.

The Tick Chart Weighted is one of the most useful tools for short-term traders. It creates bars depending on the number of transactions. The indicator gives more information during a high activity period than a 1-minute time frame chart. Therefore, you can detect more moves, spot suitable reversal signals and jump into more trading opportunities.

You have the option to tweak the setting of the number of transactions you want each tick to represent. The tick chart is not uniform with the X axis because the transactions vary within a certain period. For instance, there is volatility and high action after the market opens.

The weighted tick chart price line is calculated by adding a high, low, close and close and then dividing the figure by 4. Therefore, it differs from the median and typical candle prices. The indicator works best on an intraday strategy.

Trading Signal
Using the indicator is a bit tricky. However, it is easy to understand. The price line acts as a resistance and support level. It is also used to gauge the price decision. It gives a trading signal when the bid line (red line) bounces off. It with noting that the indicator gives signals in real-time.

Tick Chart Weighted Trading Example

The indicator lines predict the price directions. For instance, the red line bounces off the price line showing the market is in an impending bearish signal. The price actually tanks tens of pips after the signal. The same applies to the bullish signal. The blue line bounces off the price line in an uptrend direction.

Conclusion
The tick chart weighted is an ideal indicator for detecting price movement within small time frames. The weighted formula gives you excellent trading signals during high volatility. It can transform your results if you understand how to use it.