Wow! This topic is spot on for something I wanted to learn about. You are amazing in how you teach. I just found and purchased your 2 primary courses about a week ago, and I am loving all of your presentations. Thank you so much for all the care and dedication you offer to us as traders.
It is not complicated issue to identify a double top chart pattern. Being a reversal pattern from a previous swing high,you can easily scan for swing highs and set an alert when price revisits that price zone using the Blended Model Strategy. Two tops, top 1 & top 2 (or swing highs or peaks )that are almost on the same price level. Financial markets are not perfect so expect some price splash around the levels. But applying this strategy makes my entries successful. As a Forex market swing trader, once you see all these things lining up, you know you are should take your trade because price usually moves fast downward once top 2 resistance level is not broken to the upside.
My theory on tick vs time, is based on your teaching about there are TWO axes on any chart. Ticks are more aligned with PRICE (meaning they are more accurate in terms of price), and are X-axis based, while time charts are obviously TIME based, or y-axis based, so are more accurate for timing your entries/exits. I use both, so that I can find the confluence of TIME and PRICE.
I did watch the whole rubberband video and it just started circling at the end and I didn't get the free download. I love your training method and I would appreciate the download. Thank you
Some platforms offer tick charts, and others do not. Among those that do, each platform is different, you'd have to contact the support team of the platform you have.
Great video. Just to clarify for my own understanding …do tick charts track “round trip” trades (i.e. a stock/contract is bought AND sold, or if short - sold AND bought) or are these one way “transactions” as you would find printed on Time and Sales in which a stock is bought OR sold? I presume we talking trades made by the market maker where for every buyer there’s seller or vice versa, correct? So for example, a 1000 round trip market trades, correct?
Thank you for a very interesting presentation. I particularly like your observation that tick charts produce more wave like price patterns which makes them more predictable than time based charts.
Crystal clear explanation. Thank you so much. I have a question though. I have been trying to search for WHERE I can get tick charts, and can't seem to get the answer. Could you suggest one? Please? Thanks in advance :)
Good video, thank you for the survey of the two chart differences. What numbers for the TICK chart would you use for the NASDEQ at the opening? 1000, 5000?
There is no "ideal" that applies to every chart and every trader as the best. However here's a free article that will help you determine what the best tick chart is for day trading for you: www.topdogtrading.com/question-what-is-the-best-interval-for-day-trading-part-2/
I just came across this video while researching tick charts. Great information, thank you. I guess I'm a little late for the rubberband trade and cycle indicator? Thank you. I can't wait to have enough knowledge to pay it forward.
Thank you so much for this video. Excellent presentation. One question though, you indicate that the tick chart has little variance in volume, but since each tick bar represents 500 ticks for example, wouldn't the volume be 500 for every tick bar?
Great question - it wouldn't because in this context a "tick" represents one trade, regardless of how many shares (or lots or contacts) are made in that trade.
SIR, Which support is more likely to hold-- A) one with fractal support Or B) one without fractal support? Which support is more likely to hold A) fresh recent support--not tested before Or B) Support which has proved successful being tested many times before? Which support is more likely to hold A) where price spent little time before being repelled away successfully Or where price spent a lot of time before moving away? I seek your wisdom on these life & death questions.
Hi Archie, "it depends!" Here's a blog post I wrote about how to determine that best time intervals for an individual trader based on several criteria: www.topdogtrading.com/question-what-is-the-best-interval-for-day-trading-part-2/
Thank you for the video.....Does candlestick still work with tick chart? I know it is not that extreme as compare to minutes chart, but can I still rely on the candle patterns?
That's a good point Adam, and that is true of most everything. But remember you're trading within your broker's universe of data, not the universe of data, so that helps offset that point a bit.
Thank you. That's a good question. I personally prefer tick charts for Forex. Volume in Forex is measured by ticks, not by lots, so I would think volume bars would be less reliable.
Thanks a lot for your answer Dr Burns. I asked because I read that among other reasons tick charts in Forex can be filtered by the data feed provider, set to start re-counting at different starting points (e.g. midnight, open, etc.), or miss trades due to internet interrruption. So would it be more optimal to use it side to side with time-based candlesticks?
very good video and very useful information but... where can I get tick charts? I looked trough a lot of different programs but i couldn't find any, could you help me please? Which software are you using? Thanks in advance.
this is actually very well done.. however, I would suggest that Tick charts certainly can show candle patterns very well, they just cannot convey that same sense of urgency that time based bars do.. for ES I use the best of both worlds : a 5 minute base chart for market Bias, and a 1500 Tick chart for execution, great combo !! plus certain indicators seem to "work better" on tick based charts. thanks Dr. B !
Excellent contribution to the discussion James. When trading the ES I have a 5 minute and a 1,000 tick chart on my monitors. And I agree, tick charts do still show candlestick patterns better than volume bars or range bars, but just not quite as good as time-based bars.
@@TopDogTrading I like the idea of both a 5 min and 1,000 tick combo, can you please then explain which fractal chart of 3x I should follow; time or tick? Thank you, once again.
It varies depending on the average daily volume of the stock you're trading and also on the size of your account. Too much to explain in a brief TH-cam comment, but you (or anyone here) are welcome to send me an email at Barry@TopDogTrading.com and ask for my articles on "How To Determine the Best Time Intervals for Your Charts." I'll be very happy to send you links to those articles. No charge of course.
would you use fibonacci numbers in a tick chart such as 144, 233, 377, 610, etc? I recall seeing your presentation on fractals and those ratios elsewhere.
It is not complicated issue to identify a double top chart pattern. Being a reversal pattern from a previous swing high,you can easily scan for swing highs and set an alert when price revisits that price zone using the Blended Model Strategy. Two tops, top 1 & top 2 (or swing highs or peaks )that are almost on the same price level. Financial markets are not perfect so expect some price splash around the levels. But applying this strategy makes my entries successful. As a Forex market swing trader, once you see all these things lining up, you know you are should take your trade because price usually moves fast downward once top 2 resistance level is not broken to the upside.
This was great, I have been researching "forex reading" for a while now, and I think this has helped. Ever heard of - Reyichael Candlesticks Blaster - (just google it ) ? Ive heard some interesting things about it and my mate got amazing success with it.
I don’t understand the relationship between ticks and volume. It sounds to me like a tick IS the volume? Tick is x amount of trades correct? And volume is an amount of trades isn’t it? Aren’t ticks and volume the same thing? I’m confused 😓
Good question Vinny. Ticks are the number of trades, but volume is the number of shares traded - each trade can be made with a different number of shares (or contracts, lots).
It is not complicated issue to identify a double top chart pattern. Being a reversal pattern from a previous swing high,you can easily scan for swing highs and set an alert when price revisits that price zone using the Blended Model Strategy. Two tops, top 1 & top 2 (or swing highs or peaks )that are almost on the same price level. Financial markets are not perfect so expect some price splash around the levels. But applying this strategy makes my entries successful. As a Forex market swing trader, once you see all these things lining up, you know you are should take your trade because price usually moves fast downward once top 2 resistance level is not broken to the upside.
Yes, and I especially like your point that "Financial markets are not perfect so expect some price splash around the levels." That's 100% true. Thanks for your thoughtful contribution to the discussion here.
Wow! This topic is spot on for something I wanted to learn about. You are amazing in how you teach. I just found and purchased your 2 primary courses about a week ago, and I am loving all of your presentations. Thank you so much for all the care and dedication you offer to us as traders.
Rebecca Calkins ahh that didn’t sound rehearsed at all, nice
It is not complicated issue to identify a double top chart pattern. Being a reversal pattern from a previous swing high,you can easily scan for swing highs and set an alert when price revisits that price zone using the Blended Model Strategy.
Two tops, top 1 & top 2 (or swing highs or peaks )that are almost on the same price level. Financial markets are not perfect so expect some price splash around the levels. But applying this strategy makes my entries successful. As a Forex market swing trader, once you see all these things lining up, you know you are should take your trade because price usually moves fast downward once top 2 resistance level is not broken to the upside.
For high volume stocks and etfs like SPY I use 3200 ticks and this approximates a 6 min chart. Other smaller volume stocks 1600 ticks is adequate.
My theory on tick vs time, is based on your teaching about there are TWO axes on any chart. Ticks are more aligned with PRICE (meaning they are more accurate in terms of price), and are X-axis based, while time charts are obviously TIME based, or y-axis based, so are more accurate for timing your entries/exits. I use both, so that I can find the confluence of TIME and PRICE.
Great point and very well said. Excellent contribution to the discussion!
Have you seen Renko, kinda the same concept but it is only a function of price. Time and volume are no subject
@@Abduldoctor I've heard of it. Will have to check it out
@@Abduldoctor I'm interested. Could you further explain?
Isn't the X axis time, and the Y axis price?
Hi , options contracts go by minutes, 1,5 or 15 min, how to you match up the ticks and the minutes for a trade
Great point, it’s pretty tricky to do and takes a lot of practice to get the feel for it, so most people may want to stick with minute charts
Does any of this matter if you’re using Limit Orders ?
Thank you for asking and yes, it still does apply.
Great video, thanks!
Could you make a video on range bars, and constant volume bars? I hear them being mentioned lately.
Great suggestion, I'll add it to my "to do list."
@@TopDogTrading Thank you!
So if you use VWAP as many day traders rely on exclusively , then ticks wont be helpful right?
You can use VWAP with tick charts, but I agree that it works BETTER with time-based bars.
I did watch the whole rubberband video and it just started circling at the end and I didn't get the free download. I love your training method and I would appreciate the download. Thank you
Thanks for letting me know. Sounds like a server or Internet connection issue.
Excellent Presentation. Question - Do The Indicators and Studies Work Well On Tick Charts? For Example : Moving Averages, MACD, RSI...
Good question and yes, they absolutely do Michael.
Where l can find this chart in any platform
Some platforms offer tick charts, and others do not. Among those that do, each platform is different, you'd have to contact the support team of the platform you have.
Great video. Just to clarify for my own understanding …do tick charts track “round trip” trades (i.e. a stock/contract is bought AND sold, or if short - sold AND bought) or are these one way “transactions” as you would find printed on Time and Sales in which a stock is bought OR sold? I presume we talking trades made by the market maker where for every buyer there’s seller or vice versa, correct? So for example, a 1000 round trip market trades, correct?
I use 333tk and 512tk. Best method I found to trade.
Thank you for sharing that.
i really liked the clarity of the content. thx
I'm so grateful for your positive feedback, thank you!
Thank you for a very interesting presentation. I particularly like your observation that tick charts produce more wave like price patterns which makes them more predictable than time based charts.
Yes, I love that about tick charts too.
How many ticks would you set it for swing trading?
Personally I use tick bars for day trading, and daily charts for swing trading.
TopDogTrading Thanks
Great video, In day trading using tick charts would it be better to use a multi time chart in time, or tick? for market direction? Thank You
Thank you William. If you're using a tick chart as your primary chart, then I'd use a tick chart for your longer-term chart as well.
Anyone know if there is a way to get tick charts on Tradingview for the ES contract?
Last I heard TradingView does not offer tick charts.
Why use tick charts and not volume charts directly?
I like to see extreme price bar formations because they give me information I use for trading.
This really helped me understand it better. Thank you!
That's great - happy to be of help.
Nice content ! what is charting platform used?
Thank you. I used NinjaTrader charting platform in this video.
What is the software that offers tick charts? Because MT4 doesn't offer them. Besides I don't know how do u get reliable data for tick charts.
Many charting programs offer tick bars including NinjaTrader, Tradestation, Think or Swim, eSignal, and many, many others.
Sir can tick charts be use on equity markets?
Yes, absolutely Raghav
@@TopDogTrading sir do you know any platform which is providing tick charts other than ninja trader and thinkorswim
Crystal clear explanation. Thank you so much. I have a question though. I have been trying to search for WHERE I can get tick charts, and can't seem to get the answer. Could you suggest one? Please? Thanks in advance
:)
Thank you for your question Lorena. There are quite a few platforms that have them: NinjaTrader, eSignal, Tradestation, ThinkOrSwim to name a few.
What Trading Platform is that ?
That's NinjaTrader.
Hi TopDog
Is VWAP not a good fit with the tick charts?
It's okay, but probably works better with time-based bars.
thank you. I needed this information.
Glad it was helpful Wanda!
Good video, thank you for the survey of the two chart differences. What numbers for the TICK chart would you use for the NASDEQ at the opening? 1000, 5000?
Hey man, how to i access tick candles. Is there a specific software you use or is it your broker that offers it?
There are many charting platforms that offer it - NinjaTrader, Tradestation, ThinkOrSwim ... many others.
what software is this?
Hi Lam, that's NinjaTrader software.
@@TopDogTrading it is free or paid to use?
This was great Barry ... those $ in the Details ... are so great! Appreciate your devotion to education us traders.
Thank you Sharon.
What is the ideal tick chart for intraday
There is no "ideal" that applies to every chart and every trader as the best. However here's a free article that will help you determine what the best tick chart is for day trading for you: www.topdogtrading.com/question-what-is-the-best-interval-for-day-trading-part-2/
I just came across this video while researching tick charts. Great information, thank you. I guess I'm a little late for the rubberband trade and cycle indicator? Thank you. I can't wait to have enough knowledge to pay it forward.
Thanks MB. I'm not doing the cycle indicator webinar live anymore, but you can still watch a recording of it here: www.indicatorwebinar.com/
Thanks Barry - Great clear explanation as usual
Glad it helped bring clarity.
Great video and clear explanation, thank you!
Glad it was helpful!
Great tip. I didn't knew this before. Thank you.
Happy to help!
Thank you so much for this video. Excellent presentation. One question though, you indicate that the tick chart has little variance in volume, but since each tick bar represents 500 ticks for example, wouldn't the volume be 500 for every tick bar?
Great question - it wouldn't because in this context a "tick" represents one trade, regardless of how many shares (or lots or contacts) are made in that trade.
SIR, Which support is more likely to hold-- A) one with fractal support Or B) one without fractal support?
Which support is more likely to hold A) fresh recent support--not tested before Or B) Support which has proved successful being tested many times before?
Which support is more likely to hold A) where price spent little time before being repelled away successfully Or where price spent a lot of time before moving away? I seek your wisdom on these life & death questions.
All those are factors, but the more important determination is the money flow as price moves into any of those areas of support.
This was great! Still, wondering when to use the stick chart size like should you use 100-500-1000-2000?
Hi Archie, "it depends!" Here's a blog post I wrote about how to determine that best time intervals for an individual trader based on several criteria: www.topdogtrading.com/question-what-is-the-best-interval-for-day-trading-part-2/
@@TopDogTrading This is great thans!
Thank you for the video.....Does candlestick still work with tick chart? I know it is not that extreme as compare to minutes chart, but can I still rely on the candle patterns?
Yes they do still work, but as you said, they aren't as good as using time-based charts for Candlestick patterns Susanna.
What about off US hours trading session for ES mini future? Can we still trade effectively during Europe market hours (before US hours)?
really good - great topic very useful for scalping , do you know where would be good to get it on mt4
Thank you Ayrton. Sorry I can't help with MT4 since I don't use it, but I'm sure if you contact their support team they can help.
@@TopDogTrading What trading software do you use. Thanks
Professional and well explained. Kudos
Thank you Paul.
@@TopDogTrading my pleasure
Can you make a video about day trading volatile penny stocks and small cap stocks, especially gappers under 10$
thanks you for the lesson
My pleasure Darren
Thanks for your great videos. Volume for tick based charts ~= tape speed indicator
You're more than welcome Jeff, I'm glad you're finding the videos helpful.
There seems to be some debate about whether they are suited to Forex because of the decentralised exchange
That's a good point Adam, and that is true of most everything. But remember you're trading within your broker's universe of data, not the universe of data, so that helps offset that point a bit.
another great video! thanking you muchly
My pleasure!
I want to learn more about tick trading.
is tick chart available int mt4.
I don't believe it is, but you should ask them directly to be sure.
great video! 👍👍🤚🤚👍👍
Thank you Ruben 👍
An excellent introduction and explanation - thank you.
Thank you for another great video! Is it true that tick charts are not as reliable in Forex as in Futures for example?
Thank you. That's a good question. I personally prefer tick charts for Forex. Volume in Forex is measured by ticks, not by lots, so I would think volume bars would be less reliable.
Thank you Jamie, I'm glad you found the lesson helpful.
You're more than welcome.
Thanks a lot for your answer Dr Burns. I asked because I read that among other reasons tick charts in Forex can be filtered by the data feed provider, set to start re-counting at different starting points (e.g. midnight, open, etc.), or miss trades due to internet interrruption. So would it be more optimal to use it side to side with time-based candlesticks?
This answers my question I asked during the webinar tonight, Thank you
That's great! Glad this video brought clarity to your question.
very good video and very useful information but... where can I get tick charts? I looked trough a lot of different programs but i couldn't find any, could you help me please? Which software are you using? Thanks in advance.
There are many, but I know for a fact that NinjaTrader, Tradestation and Think or Swim all offer tick charts.
Thank you!!! you're so kind! subscribed!
Great voice, great teacher, good information - Subscribed
Much appreciated!
this is actually very well done.. however, I would suggest that Tick charts certainly can show candle patterns very well, they just cannot convey that same sense of urgency that time based bars do.. for ES I use the best of both worlds : a 5 minute base chart for market Bias, and a 1500 Tick chart for execution, great combo !! plus certain indicators seem to "work better" on tick based charts. thanks Dr. B !
Excellent contribution to the discussion James. When trading the ES I have a 5 minute and a 1,000 tick chart on my monitors. And I agree, tick charts do still show candlestick patterns better than volume bars or range bars, but just not quite as good as time-based bars.
@@TopDogTrading I like the idea of both a 5 min and 1,000 tick combo, can you please then explain which fractal chart of 3x I should follow; time or tick? Thank you, once again.
any good number for tick chart for stocks? i am using 4500 1500 500
It varies depending on the average daily volume of the stock you're trading and also on the size of your account. Too much to explain in a brief TH-cam comment, but you (or anyone here) are welcome to send me an email at Barry@TopDogTrading.com and ask for my articles on "How To Determine the Best Time Intervals for Your Charts." I'll be very happy to send you links to those articles. No charge of course.
would you use fibonacci numbers in a tick chart such as 144, 233, 377, 610, etc? I recall seeing your presentation on fractals and those ratios elsewhere.
It is not complicated issue to identify a double top chart pattern. Being a reversal pattern from a previous swing high,you can easily scan for swing highs and set an alert when price revisits that price zone using the Blended Model Strategy.
Two tops, top 1 & top 2 (or swing highs or peaks )that are almost on the same price level. Financial markets are not perfect so expect some price splash around the levels. But applying this strategy makes my entries successful. As a Forex market swing trader, once you see all these things lining up, you know you are should take your trade because price usually moves fast downward once top 2 resistance level is not broken to the upside.
Very informative, thank you.
You're very welcome Christel
Well presented Dr. Burns. Thank you for your excellent and clear explanation of tick charts compared to time based charts.
Thank you, Barry, May god bless you long life!
Thank you Shaik - I hope we both have long lives!
Informative.
Thank you Barry, appreciate your easy to understand education style
Thanks Rick, I'll keep doing my best for you.
I have been watching all your videos. Excellent effort. Would be great to learn the difference between hikenashi chart, renko chart and tick chart.
Thank you for the kind words. Those are good suggestions, I'll add them to my "to do" list.
great vid. Learned some good stuff
Wonderful, I'm glad it was helpful.
Thnkx so much!
You're welcome!
keep the work up i'd like to learn from you newbie in forex market =)
Sir , i owe to you for this video"s information, thanks a lot ,pliz keep it up for our betterment
This was great, I have been researching "forex reading" for a while now, and I think this has helped. Ever heard of - Reyichael Candlesticks Blaster - (just google it ) ? Ive heard some interesting things about it and my mate got amazing success with it.
Thank you
You're welcome Edvin.
thank you for sharing
Thank you for another excellent video
You're more than welcome.
Great video, thank you!
You're very welcome Jenkins
Very nice and helpful
I'm glad you found the tutorial helpful Jean.
Well presented
Thank you so much.
Subbed and shared.
Thank you, I look forward to bringing you more value for your trading.
I don’t understand the relationship between ticks and volume. It sounds to me like a tick IS the volume? Tick is x amount of trades correct? And volume is an amount of trades isn’t it? Aren’t ticks and volume the same thing? I’m confused 😓
Good question Vinny. Ticks are the number of trades, but volume is the number of shares traded - each trade can be made with a different number of shares (or contracts, lots).
very insightfull
Thank you Louis, I'm glad you found the tutorial helpful.
nice video, it helped alot:))))
That's great Q, I'm glad it helped.
I will nvr understand why any trader will use minute bars. The market has nothing to do with time, but only on price points. Thats it
Thank you for your perspective on that Kimster Trader.
It is not complicated issue to identify a double top chart pattern. Being a reversal pattern from a previous swing high,you can easily scan for swing highs and set an alert when price revisits that price zone using the Blended Model Strategy.
Two tops, top 1 & top 2 (or swing highs or peaks )that are almost on the same price level. Financial markets are not perfect so expect some price splash around the levels. But applying this strategy makes my entries successful. As a Forex market swing trader, once you see all these things lining up, you know you are should take your trade because price usually moves fast downward once top 2 resistance level is not broken to the upside.
Yes, and I especially like your point that "Financial markets are not perfect so expect some price splash around the levels." That's 100% true. Thanks for your thoughtful contribution to the discussion here.
Spot on
Thanks Tech Pro.
👍
🗿
This video was very helpful... thank you!
Glad it was helpful!
👍