Tick Chart Indicator

Post by **forexgeeker** » Fri Oct 23, 2015 1:09 pm

Hi Guys,

This is a Tick chart indicator created by Tommaso...It is a very great tool to use to monitor the spread behaviour when reversal is about to happen..I've posted this indicator at Captain's Jack thread,but it is a massive thread so will be a little difficult for people to look for it..So ,I decided to re-post it here..Enjoy!!

All credit goes to Tommaso for this Brilliant work.!!!

Post by **SteveHopwood** » Fri Oct 23, 2015 7:30 pm

Would you be able to take a few seconds to explain how people use it?

Post by **milanese** » Fri Oct 23, 2015 8:20 pm

SteveHopwood » Fri Oct 23, 2015 7:30 pm wrote:Would you be able to take a few seconds to explain how people use it?

it can make the observation on spread-behaviour , more easy esp if you are watching more than one pair as the conventional tickchart presented by Empty4.

http://www.stevehopwoodforex.com/phpBB3 ... 60#p127960

Cheers

Tommaso

Post by **SteveHopwood** » Fri Oct 23, 2015 9:03 pm

Yes, I get that. In my own way, all of my ea's do the same thing.

What I am asking is how do users take advantage of this:

It is a very great tool to use to monitor the spread behaviour when reversal is about to happen.

How does the OP use it thus?

Post by **forexgeeker** » Sat Oct 24, 2015 3:16 pm

SteveHopwood » Fri Oct 23, 2015 3:30 pm wrote:Would you be able to take a few seconds to explain how people use it?

Hi Steve,

Thank you for your comment.I'm learning Captain's Jack method.He mentioned that most of the time when price reversal is about to happen,the spread will be widen to stick the stop order going the other way.So for this past few days I've been doing some homework on spread monitoring to see how the Bid/Ask line behaves when price is about to reverse..

What I find difficult is everytime I'm viewing another pair,I always have to manually change the tick chart symbol to the current pair I'm viewing which is a bit troublesome when dealing with multiple pair.And at the same time we also need to be 'there' on the right time when this event unfold as there's no way we can scroll back to see the spread history.But no surprise,as we all know Mr Fox design it that way to cover their tracks..

So by using this indicator I can at least see what happen on the last few minutes and I don't have to reselect the tick chart symbol everytime I'm viewing another pair..

Hope I explain it well..

Post by **SteveHopwood** » Sat Oct 24, 2015 4:00 pm

Yes, thanks.

fetch · Post by **fetch** » Mon Nov 09, 2015 4:45 am

Hey guys - following on from forexgeeker's explanation, what would be great would be a way to see this without having to watch it live. ie a pin formed by increasing the spread. Depending on where or how we live this could happen during the night or whilst we are at work or we just can not watch a computer screen all the time.

I don't know if it's possible to have a pin painted a different colour in response to a spread widening or have some sort of marker printed at the pin extreme or even have the highest spread of the bar printed at the pin. Otherwise although not quite the same thing, perhaps a histogram below the price bars could show the highest spread for each bar.

Cheers.

Post by **forexgeeker** » Mon Nov 09, 2015 5:02 pm

fetch » Mon Nov 09, 2015 12:45 am wrote:Hey guys - following on from forexgeeker's explanation, what would be great would be a way to see this without having to watch it live. ie a pin formed by increasing the spread. Depending on where or how we live this could happen during the night or whilst we are at work or we just can not watch a computer screen all the time.

I don't know if it's possible to have a pin painted a different colour in response to a spread widening or have some sort of marker printed at the pin extreme or even have the highest spread of the bar printed at the pin. Otherwise although not quite the same thing, perhaps a histogram below the price bars could show the highest spread for each bar.

Cheers.

Hi Fetch,

Maybe you can try this one..It draw histogram below the price bars

Post by **forexgeeker** » Mon Nov 09, 2015 5:17 pm

Or this one maybe..I found it in FF,I think it works pretty good..It creates a log/txt file that record the spread value and the time it happen.There are 2 version of it:

Spread Recorder - Record spread value,time, and bid/ask
Spread Recorder v1 - Record spread value and time only

You can find the explanation here http://www.forexfactory.com/showthread.php?t=195290

Post by **Jemook** » Tue Nov 10, 2015 12:53 am

forexgeeker » Tue Nov 10, 2015 4:02 am wrote:
fetch » Mon Nov 09, 2015 12:45 am wrote:Hey guys - following on from forexgeeker's explanation, what would be great would be a way to see this without having to watch it live. ie a pin formed by increasing the spread. Depending on where or how we live this could happen during the night or whilst we are at work or we just can not watch a computer screen all the time.

I don't know if it's possible to have a pin painted a different colour in response to a spread widening or have some sort of marker printed at the pin extreme or even have the highest spread of the bar printed at the pin. Otherwise although not quite the same thing, perhaps a histogram below the price bars could show the highest spread for each bar.

Cheers.
Hi Fetch,

Maybe you can try this one..It draw histogram below the price bars

This is the way I do it, love that indicator.

Leave it on the 1 minute chart and you'll see the spread can be a touch wider at tops and bottoms of moves. Disregard news, weekend open/close and rollover spreads for this tactic.

Thanks FG