Tick charts bar duration doesn't include "ASK only" changes
Tick charts bar duration doesn't include "ASK only" changes
10 May 2017, 06:16
I have noticed that only changes to the bid price count towards the "volume" on a Tick Chart (aside from T1). Is that correct?
As an example of the problem, on a T7 chart when the Ask price changes 18 times and the Bid price only changes 3, the chart is only half way through 1 bar (3 Bid ticks), when it should have nearly completed 3 bars (18-21 ticks, depending on Bid/Ask changing simultaneously).
A T1 chart registers every change to the Ask even where there is no change to the Bid. Can the other tick charts be configured so that an Ask change without a Bid change is still considered a tick?
Replies
Spotware
21 Jul 2017, 09:36
Dear vschipplock,
Thanks for posting your question in the forum. As you correctly noticed, we draw tick charts using Bid. It is not possible to draw tick charts based on both prices because a tick chart is not only about the number of ticks but also about open, close, high and low prices. If we used both feeds to draw a tick chart then confusion would occur about what do these prices represent. Would they be Bid or Ask? And if we chose one of the two as a convention what would happen if no price was received for that price feed but the tick count has been reached e.g 0 Bid prices, 7 Ask? For these reasons, a Tx candlestick is drawn by combining the data of x T1 candlesticks based on the Bid price.
Best Regards,
cTrader Team
@Spotware
vschipplock
23 May 2017, 03:39
Moving On
Judging by the lack of response, I am assuming this is not something I configure myself, and it's the actual functionality of cTrader. Unfortunately this is a bit of a show stopper for me - a tick chart that doesn't actually chart the ticks is.. well.. just a chart.
There were only 2 reasons I looked into cTrader - being able to use everyday indicators on a tick chart, and the DoM. Bid-only tick charts are not sufficient for me (and I have already written a tick chart indicator for my current platform), and as I found out from my broker, their LP only provides DoM for the closet 10M in orders on either side of the price action, which is not "deep" enough for me. So cTrader doesn't benefit me as I thought it might.
For now I will be staying with my current platform, thanks to anyone who invested their time to at least read my post.
@vschipplock