Tick Chart for MT4

Dear Traders,


Let me introduce the following indicator which draws tick based candlestick chart in the indicator window of MetaTrader 4.


RW Tick Chart indicator




Main functions:

• real time candle drawing
• number of ticks per candle can be set
• display Moving Average on tick chart
• multiple tick charts can be added to the same main chart
• custom candle colors
• works in MT4 Strategy Tester visual mode

Demo video:

RainWood's Forex Tick Chart for MT4 - YouTube




Now there is a free trial available until 25th of September, 2013!
Click here for FREE TRIAL

Does your indicator provide tick data prior to MT4 initiation? Or does it only collect tick data from the point at which you initiate MT4 - i.e. no historical data?

If not, what does your paid offering provide that any one of the many free ones do not?

No, it doesn't provide historical data. So if your MT4 is not running, no tick data is collected.


But here are some of the indicators main functions in more detail:

1. the indicator draws the tick chart in the indicator window - most free indicators I saw use offline chart for that

2. you can set the number of ticks per candle as you wish - from 1-tick chart to even 1000 or 2000 tick chart or more

3. tick candle data is saved in file - so tick data (already collected) won't get lost if you change timeframe (and the indicator gets re-initialized) or restart MT4

4. save file can be set to binary file or CSV file as well

5. more tick charts can be added to the same main chart - e.g. you could add a 30-tick chart and a 233-tick chart in indicator window, while the main chart shows H1 time frame - this way you can monitor smaller and higher time frames at the same time with only one opened chart

6. the indicator works in MT4 Strategy Tester mode as well, so if you test your own EA in visual mode you can add tick chart as well to see higher or lower timeframes

7. you can also add moving average to the tick chart which is calculated based on tick candles

8. there is a mode called 'RoundToPip' in the indicator. If you have a 5-digit broker and 'RoundToPip' is enabled, the indicator will round price values to pip values (like a 4-digit broker would display it). This way it is possible to detect candle blocks and support/resistance easier (as described in Bob Volmans book on Price Action Scalping, more info may be found in this thread)

Hope this helps

Does seem to offer some significant advantages over the free offerings - especially not having to use an offline chart.

I've not used tick data but will try it out just to see if there is a benefit in getting that close to the price action. There is a very experienced trader on here who does get up close with tick data (though not on FX as far as I know) and I'll like to see if I can find out what it is that I may have been missing.

Thanks for your trial offer.



edit: the file is over 12MB - that's large for an indicator. I appreciate that you would not want to release the source, but given that you are asking purchasers to install an executable file of that size do you have any recommendations from existing users or is this a brand new release? Bit of a Catch-22 I know, but I'm sure I'm not alone in preferring to hear from others who have used it without any security issues arising.

Does it collect any user personal data or machine specific information and/or does it transmit any data from the user instance to any 3rd party?

No, it doesn't collect any information, neither transmits data to a third party. The size is part of the protection. Even the source is bigger and more complex than an average indicator and as a consequence the protected file is bigger than usual as well. Otherwise this is a new project with few users yet, however none of these reported any security issues.

RW Tick Chart indicator v1.10 released

New version of RW Tick Chart indicator has been released.


Here is what's new in version 1.10:

RW Tick Chart indicator v1.11 released

New version of RainWood Tick Chart indicator has been released.


New features in version 1.11:

• Display horizontal lines/levels on the tick chart - The tick chart in the indicator window can now display horizontal lines with a set number of pips between them. This might help to visualize the current range of movement of the market easier
  
  
• Simplified name for offline tick charts - The name of the offline tick charts can now be simplified, so it will contain only the name of the instrument (e.g. 'EURUSD') and will not have the prefix like before ('!rwEURUSD')

RW Tick Chart indicator v1.13 released

New version of RW Tick Chart indicator has been released.


New features in version 1.13

RW Tick Chart v1.13

70-tick chart with Bollinger Bands:

Have began using the RWtick chart about two weeks ago. So far so good. Far better than Mt4 time charts.

RW Tick Chart indicator v1.14 released

Version 1.14 of RainWood's Tick Chart indicator is now available.


New features in version 1.14:

1. improved tick data loading - last weeks tick data can also be displayed with the most current tick data
   
   
2. time lines and time labels with more options - additional selectable time periods (5, 10 and 15 minute) have been added
   
   
3. offline tick charts now refresh at every tick - offline tick chart auto-refresh can be set to occur at every tick, every 5th tick or at every tick candle close
   
   
4. minor optimizations and enhancements

Update v1.14c has been released for RW Tick Chart indicator with some bugfixes.

RW Tick Chart indicator v1.15 released

Version 1.15 of RW Tick Chart indicator is out.


New features in version 1.15:


1. real-time moving price line - a moving price line can be added to the tick chart (in MT4 indicator window) showing the current price only or both Bid and Ask prices

2. tick chart based on Bid, Ask or Mid price - select which price you would like to use as base of tick chart

3. 1-minute option for time lines and time labels - time lines and time labels can now be displayed at every minute (in earlier versions 5 minutes was the minimum time between two time lines)

4. 1-pip option for horizontal grid lines - horizontal grid lines can now have as little as 1 pip distance between them (in earlier versions 5 pips was the minimum distance between grid lines)

How will a tick chart help me make money trading?

Sigma-D said:

How will a tick chart help me make money trading?

Click to expand...

tick and multi tick are very useful.especially for entry and exits
also gives you a slightly different perspective than time based candles/bars
dont use it myeself

Sigma-D said:

How will a tick chart help me make money trading?

Click to expand...

Tick charts can give you another perspective than time based charts. Can also help to see high volatility periods and momentum while filter out low volatility periods.

pretty good
gives alot more clarity

RW Tick Chart indicator v1.16 released

RW Tick Chart indicator v1.16 has been released.


Here is what's new in version 1.16:

• additional indicators: some MT4 built-in indicators (Stochastics, MACD, CCI and RSI) have been modified so that they are now in sync with the tick chart in the indicator window. By adding these indicators to the main chart (where RW Tick Chart indicator is already present) they will show values based on the tick chart
  
  
• trendline support: RW Tick Chart indicator has been modified to be more 'trendline friendly' - i.e. trendlines added to the tick chart in the indicator window will now move in sync with the tick chart
  
  
• history tick data download: RW Tick Chart is now able to download history tick data from 3rd party data provider. This feature can be enabled or disabled and may be a help for those traders who don't want to run their computer 24/7 to collect tick data

RW Tick Chart v1.17 has been released

New version of RW Tick Chart indicator has been released.


Here is what's new in version 1.17:

• additional indicators: besides the tick chart based indicators released in the last version (Stochastics, MACD, CCI and RSI) we have added tick chart based versions of Williams %R, Momentum and Standard Deviation indicator

• button added to open offline chart: if offline tick charts are enabled, a button will be shown in the indicator window which makes it easier to open the corresponding offline tick chart

• optimizations and bugfixes since the last version

RW Tick Chart v1.18 has been released

New version of RW Tick Chart indicator has become available :idea:


Here is what's new in version 1.18:

1. automatic copy of main chart trendlines to tick chart: if enabled, the trendlines on the main chart will be copied to the tick chart
   
   
2. alert when MAs cross: sound and alert window notifications can be enabled for the case when the two built-in Moving Averages cross
   
   
3. open trades visible on tick chart: current open trades are marked on the tick chart with open price, stop loss and take profit lines (the same way as they appear on the main chart)
   
   
4. Accelerator added as additional indicator: tick chart based Accelerator indicator has been added to the downloadable indicator package
   
   
5. history tick data download improved: more than 1 month of history tick data can be downloaded for the tick chart

:cheers: