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lazymuoio

Tick Vs Time Charts

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Can anyone tell me the benefits/draw backs of tick vs time charts for the mini equity futures and what the 144tk and 233tk charts would be roughly equivalent to time wise and whether using one instead of the other is more beneficial. Thanks

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Can anyone tell me the benefits/draw backs of tick vs time charts for the mini equity futures and what the 144tk and 233tk charts would be roughly equivalent to time wise and whether using one instead of the other is more beneficial. Thanks

 

Do a search for what youre looking for and youll find it. TL is littered with what youre looking for.

 

strtedat22

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Can anyone tell me the benefits/draw backs of tick vs time charts for the mini equity futures and what the 144tk and 233tk charts would be roughly equivalent to time wise and whether using one instead of the other is more beneficial. Thanks

 

Do your own homework, lazymuolo....

 

Have you actually plotted 144 or 233 tick charts and compared them to regular charts with a time interval of your choosing, like 5 minutes?

 

Did you notice any differences or similarity? Compare and contrast tick vs time charts for yourself first, and you'll have your answer in no time.

 

-fs

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Can anyone tell me the benefits/draw backs of tick vs time charts for the mini equity futures and what the 144tk and 233tk charts would be roughly equivalent to time wise and whether using one instead of the other is more beneficial. Thanks

 

whatever tick/time correlation you can perceive has to be, by definition, purely coincidental.

a 5 minute chart will print a bar/candlestick every 5 minutes, no matter what the underlying action.

a 233 chart prints a bar every 233 ticks so if trading is intense that could happen within 1 minute ? or on a slow night 10 minutes ? or an hour ?

ok an hour is an exaggeration, but only when you truly understand the beauty and power of a tick chart, will you realise how absurd your question is.

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Actually RE time based comparisons can be worth doing.

 

You take the rth hours only and find out how many ticks in that period. Then you create an equivalent tick chart to your chosen minute chart.

 

At that point your "fast period gives quicker response, slower gives relaxed response" comes into effect. I don't personally do it but I know people who do and are satisfied with the effect.

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I think Kiwi's response is on point, unless you happen to be trading off-hours, that is.

 

For what it's worth though, I happen to like using Volume (or Share) charts instead of tick charts, since you really can never be certain what a true tick is.

 

Remember that not too long ago, for instance, the CME decided to "consolidate" ticks sent so as to conserve bandwidth.

 

So, whereas a tick used to be equivalent to "one trade or transaction = one tick", it now could be "many trades or transaction = one tick".

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I agree with forsearch....that a tick from one data source is not necessarily equal to a tick from another data source. Some data services will often consolidate several "trades" into one "tick". For that reason, volume-bars might make more sense for grouping bars based on an activity-basis.

 

Nonetheless, here are a couple examples: A 377 tickbar chart showing the amount of time in seconds spent within each bar:

 

Tick_VS_Time.png

 

And here is a 1-minute chart plotting the number of trades in each minute:

 

Tick_VS_Time_2.png

 

DTN seems to be sending about 500 ticks per minute on average on the ES. These calculations were made using the Volume Breakdown Indicator: http://www.linnsoft.com/tour/techind/vb.htm

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