Tick indicator for M1 timeframe
A tick in stock trading is the minimum change in the price of a financial instrument. For example, if the stock price is $20.00 and the minimum tick is $0.01, then the next possible stock price could be $20.01 or $19.99, but not $20.005.
Tick counting in stock trading is used to analyze market volatility , that is, the degree of its variability.
A large number of ticks in a short period of time may indicate high volatility, while a small number may indicate low volatility. This is important for traders, since volatility directly affects the potential profitability and risks of transactions.
Ticks are also used to create tick charts, which allow traders to see every price change and analyze market dynamics in more detail.
After installing the script and running it on the selected chart, text will appear in the upper left corner indicating the number of ticks on M1 and the time until the end of the timeframe.
The ulita performs the following two functions:
- Counts the number of ticks until it is reset by the user.
- Counts down time on the M1 timeframe until a new candle is formed.
As for the tick counter settings, they are as simple as possible and look like this:
Users can change the following input values:
Input values for counting ticks:
Start Tick Counter Trigger : (Immediately/After the next bullish candle/After the next bearish candle)
Show Tick Count Label : True/False
Text Color - Text color
Tick Count Reset Value - Tick counter reset value
Setting up placement on the chart
X-Axis - X Axis (Position)
Y-Axis - Y Axis (Position)
Input values for countdown:
Show countdown label: True/False
Text color
X Axis (Position)
Y Axis (Position)
This tool can be used for pipsing or scalping ; its use will make trading more efficient.
If you are interested in trading on ticks, then perhaps the Tick Trader trading platform will be useful to you - https://time-forex.com/skalping/platforma-tik-forex