RW Tick Chart indicator for MT4

Dear Traders,


Please allow me to introduce RW Tick Chart indicator: an indicator, which displays tick-based candlestick chart in the indicator window of MetaTrader 4 and it also supports offline tick charts.

MetaTrader 5 version is also available since September 2021.





Main Features:

1. real time candle drawing - new candles are drawn in MT4 indicator window as soon as the set number of tick data has been collected
2. number of ticks per candle can be set - it is possible to set the number of ticks in a candle for the tick chart. Tick numbers can go from 1 to 2000 or more
3. supports downloading of history tick data - if enabled, the indicator automatically downloads history tick data for time periods when MT4 was offline
4. supports generating history tick data from M1 candles - generate simulated history tick data using OHLC values of M1 candles
5. display Moving Average on tick chart - one or two Moving Averages can be added
6. option to display Bollinger Bands and Heiken-Ashi - it's possible to add Bollinger Bands and Heiken-Ashi to the tick chart in indicator window
7. multiple tick charts can be added - you can add more tick charts to the same main chart
8. offline tick charts also supported - offline tick charts can be enabled and they will be automatically refreshed at every tick or every tick candle close. You can also add custom indicators and Expert Advisors to the offline tick charts
9. bundled with additional tick chart based indicators - like CCI, MACD, RSI, Stochastics, Williams %R and others (all tick chart based)
10. compatible with MetaTrader v4.00 build 1340 and above

Latest version:

1. v1.22d released for MT4 in September 2021
2. v1.00 released for MT5 in September 2021

Video:

For more information please visit the official website: www.rwtickchart.com

Here is an example how todays (13th of Sept, 2013) US news release looks like on EURUSD with the tick chart indicator:



The news released was Retail Sales and PPI:

Benefits of tick charts

Using tick charts exclusively or in combination with the classic intraday time-based view could enrich your chart analysis and provide you with some additional information.

One of these additional information is the correlation between market volume and price development. As tick charts are transaction based and make new bars only when there have been enough trades, they adjust to the market and draw more bars in case of high activity. This helps to notice momentum and increasing volatility. The same way during low activity periods (like noon or after-hours) tick charts only display a few bars as opposed to time based charts where you'll usually see a row of smaller less important candles. Without this accumulation of small candles tick charts make it easier to spot trends and properly identify real support and resistance levels.

While during high volatility periods time based charts may show only a long candle, tick charts show that candle divided into some smaller candles and may provide more information about momentum and direction, or a possible reversal. This might be especially helpful for traders scalping. Patterns also tend to be more symmetrical on tick charts.


http://www.rwtickchart.com/images/fig3b.png

RW Tick Chart indicator v1.10


New version of RW Tick Chart indicator has been released.


Here is what's new in version 1.10:

1. improved tick data collection and saving method - when changing tick chart the indicator now uses the already collected tick data to create the new tick chart. The old version just emptied the tick chart and started tick data collection from the beginning.

1. indicator now supports offline charts as well - so you can add many MT4 built-in and custom indicators to the tick chart

1. backtesting speed improved in MT4 Strategy Tester - there is an option in the tick chart indicator settings to enable Fast Mode during backtesting an Expert Advisor

1. now a second Moving Average line can be added to the tick chart in indicator window

Learn more at www.rwtickchart.com

Hi, i want to know if you can set your candle to show only "ticks in a row" like for exemple : i want a 10 ticks candle but only if +1+1+1+1+1+1+1+1+1+1 = 10 ticks candle
and not +1+1+1-1-1+1+1+1+1-1+1-1+1+1+1+1+1+1 = 10 ticks but not shown in the chart.

Can i use any history data with alapri uk ?

Can you draw a chart showing spread ?

RW Tick Chart indicator draws candles after every X number of ticks, where the value of X can be set at the indicator settings panel. It can draw a 1-tick chart, a 33-tick chart, a 2000-tick chart or whatever you set it. However there is no option to display only 'ticks in a row' according to the way you described.

Since history tick data is not available in MT4 you can only use history tick data collected by the tick chart indicator. However tick data collection happens only when MT4 is running and the indicator is added to a chart. The indicator cannot collect tick data while MT4 is not running or when none of the chart contains the tick chart indicator.

You can use the indicator with any broker that offers MT4 platform, Alpari UK included.

For now the tick chart doesn't show spread, maybe we will think about adding this option in a future version.

Did anybody tested it ? Would like to hear from traders. Thank you !

I see is only one Moving Average can be added to tick indicator. Any possibility to add more indicators (like Bollinger Bands or more MA's) on it. It would be great if it would work like real tick chart

The tick chart in the indicator window can show only 1 or 2 Moving Averages. However there is also an offline chart mode in the indicator. If you enable offline chart mode in the indicator settings, the indicator will create an offline tick chart and update it regularly. To this offline tick chart you can add many MT4 built-in or custom indicator and EAs as well.

Here is an example:

RW Tick Chart indicator v1.11


New version of RainWood's Tick Chart indicator has been released.

New features in version 1.11:

1. 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

1. 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 it will not have the prefix like before ('!rwEURUSD'). This could be useful for those who would like to add custom indicators/EAs which cannot handle special offline tick chart names.

More information available at www.rwtickchart.com

RW Tick Chart indicator v1.13



New version of RainWood's Tick Chart indicator is now available.


New features in version 1.13:

1. Bollinger Bands - Bollinger Bands can be added to tick chart in MT4 indicator window

1. Heiken-Ashi - Heiken-Ashi can be applied to tick chart in indicator window

1. Offline tick charts with current time and dates on timescale - offline charts now show real dates instead of dates from 1970s (like old versions because of MT4 limitation for builds 509 and lower)

1. minor improvements and optimizations​

1. compatible with MT4 builds 610 and higher

​For more information and screenshots you can visit www.rwtickchart.com

70-tick chart with 20 period Bollinger Bands:

Hi Would this indicator also work on Alpari UK with US30 - DAX - US500 Indices ?

Yes, it also works with those.

Some may wonder what is the difference between free tick chart indicators available and RW Tick Chart.

So here is a little collection of RW Tick Chart features which may be missing partly or completely from other tick chart indicators:

1. RW Tick Chart can draw tick charts in indicator window and also to offline chart
2. it can display tick charts from 1-tick chart to 2000-tick chart or more (e.g. 30-tick, 70-tick, 133-tick... etc., and you can set the number of ticks per candle at the indicator settings panel)
3. you can change tick charts on the fly (e.g. from 10-tick chart to a 89-tick chart) and the already collected ticks will be converted (and don't get lost like most other free tick chart indicators which start to draw chart from the beginning in such case)
4. you can add more tick charts to the same main chart window (e.g. a 30-tick chart and a 233-tick chart to have a shorter and longer timeframe as well)
5. RW Tick chart can apply Bollinger Bands, Heiken-Ashi and one or two Moving Averages to the tick chart in the indicator window
6. if using offline tick charts you can add other indicators and EAs as well
7. when restarting MT4 it reloads (if enabled) tick data from last session (you can also define (in hours) how old tick data it should load)
8. horizontal grid lines can be also enabled in indicator window (you can set how many pips you want between the horizontal grid lines)
9. supports MT4 builds 610, 625 and higher
10. many other settings and customizable options...

Learn more at www.rwtickchart.com

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

www.rwtickchart.com

Good work, will have to test it now. Very curious how it works.


Question: It is going to work on XAU/USD ?

Yes, it also works on XAU/USD.

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

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)

www.rwtickchart.com