One of the most popular currency exchange charts is the Tick chart. Tick charts allow different presentation of the market information by presenting a clearer indication of a psychology of the market and price action. Forex Tick Charts have the finest scale that is 1 tick, which means, individual quoting of bid and ask prices by market-maker. On the chart, you will observe Bid and Ask quotations looking like columns on the chart of the prices.
Tick chart has the finest scale with the 1 tick. It is the chart of bid and ask quotations which look like columns on the price chart.
Tick charts draw a new bar after a set number of trades e.g. after every 1000 trades. The maximum of each separate column is Ask and the minimum of each concrete column is bid.
What it does for you?
- Tick charts let you get a jump on breakouts
- Let you “see” more cyclic information
- Allows you to follow the professionals
- Tick charts allows you to fade the amateurs
- It compress low activity periods and avoid whipsaws