I recently discovered a new chart type called tick charts, or tick-by-tick charts. Are they better than the usual charts? Also, is there any Indian broker or software that offers tick charts? I checked on TradingView, but it costs over ₹19,000 per month, which is quite expensive right now. Could you provide more information on this?
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Too much noise in every tick. There’s no point of looking at it. You can’t even digest it manually
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Well I do have an upstocks account. But the chart is still time based. The difference is that they plot the candles from tick by tick data compared too snap shot data by others(All the terms are from them). So I see a bit of difference there. But it’s not a tick chart, rather it’s a tick data driven time based chart.
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Oh, okay. I don’t know of any other Indian broker or software that provides tick charts.
Well I found something and will try this next week. So there is a trading software called ninja trader and there is tick data provider called true data. So you can configure true data with ninj trader to have tick chart or volume charts as well. Will try the free trail next week. If it seems useful or better than normal charts then will move to tick charts.
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So an UPDATE
I used tick charts for 1 week.
I realized, tick charts are better with lots of volume, and for scalping. very similar to 1 or 3 min charts. It gives proper entry and exits. Also better to be used with index rather then stocks. Basically where lots of volumes are there, more then 100 million.
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From where you got tick chart for nifty , bank nifty ??
Are you using at present?
Sorry for the delayed reply; somehow, I missed this.
There is a trading software called NinjaTrader and a tick data provider called TrueData. While NinjaTrader is free, TrueData is a subscription-based service.
No, I don’t use it anymore. I used the free trial and found that while it’s quite good, it’s just not my style of trading. I have switched to longer time frames, and there I don’t need tick charts.
P&F log charts too provide proper entry & exit, say DTB/DTS.
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