Using Tick-Volume Histograms Across Multiple Candles

Summary

The document explains a chart indicator that aggregates tick counts across a chosen interval of multiple candlesticks, then divides that combined interval into price clusters. It presents this as a horizontal market cross-section: each cluster shows the number of ticks at its price level. This differs from a companion indicator that counts ticks within clusters of a single candle. Users set the collection interval by moving or resizing a chart rectangle, and can configure volume thresholds and colors.

The display separates total ticks per cluster from counts associated with rising and falling prices, using distinct line colors for each measure. The text notes that Forex chart volume represents tick activity rather than actual traded volume, while suggesting tick data can be analyzed in a similar way. Historical readings depend on a collected tick file; without rendered history, values update as new ticks arrive. The document describes visualization and data requirements but gives no trading rules, validation, or evidence that tick counts predict future price moves.

Key ideas

• The indicator aggregates tick counts over several candles and bins them by price cluster.
• Its horizontal display shows total ticks per cluster and separate counts for rising and falling prices.
• The interval is controlled by moving or resizing a chart rectangle.
• Forex tick volume counts price updates and is not a direct measure of executed trade volume.
• Historical calculations require tick data, and the document provides no predictive validation or trading results.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.