Created
: 2022.07.12
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
Use and customize tick chart
Use and customize tick chart
With MetaTrader4 (MT4) / MetaTrader5 (MT5), you can check the tick charts from the Market Watch or when placing a new order. A tick is the smallest unit of data that represents price. And a tick chart shows the price fluctuation in ticks. Tick charts detect price movement faster than any other chart, so it's often used for short-term trading such as scalping (a trading strategy in which traders profit off small price changes).
Here, we'll take a look at how to use and customize the tick charts in the Market Watch screen.
Switch between MT4/MT5 tabs to check the steps for each.
Step 1
In the "Symbols" tab of the Markets Watch, click the symbol for which you wish to display a tick chart, and switch to the "Tick Chart" tab.
Related article: Manage symbols in Market Watch
Or, in the "Symbols" tab of the Market Watch, right-click the symbol for which you wish to display the tick chart and select "Tick Chart".
Tick volume shows market activity
For stocks and other instruments traded on exchanges, a high volume indicates that they are traded actively. Meanwhile, in the case of forex, the market is decentralized, which means that the trading volume cannot be measured. Therefore, tick volume, the number of price movements, is used as a substitute for trading volume assuming that the higher the tick volume, the more active the market is.
Step 2
The tick chart for the symbol of your choice will be displayed in the Market Watch.
Bring the tick chart right below the chart
You can change the shape and position of the Market Watch window as you prefer. Placing the tick chart right below the main chart facilitates finding entry points.
Step 3
To set up the tick chart, right-click on it and select the item you want to configure from the context menu.
|
Number |
Item name |
Description |
|---|---|---|
|
1 |
New Order |
Display the new order window. |
|
2 |
Chart Window |
Display the chart for the symbol. |
|
3 |
Ask Line |
Show/hide the Ask price line (red) on the tick chart. |
|
4 |
Grid |
Show/hide gridlines on the tick chart. |
Step 1
In the "Symbols" tab of the Markets Watch, click the symbol for which you wish to display a tick chart, and switch to the "Ticks" tab.
Related article: Manage symbols in Market Watch
Or, right-click the symbol for which you wish to display the tick chart and select "Tick Chart".
Tick volume shows market activity
For stocks and other instruments traded on exchanges, a high volume indicates that they are traded actively. Meanwhile, in the case of forex, the market is decentralized, which means that the trading volume cannot be measured. Therefore, tick volume, the number of price movements, is used as a substitute for trading volume assuming that the higher the tick volume, the more active the market is.
Step 2
The tick chart for the symbol of your choice will be displayed in the Market Watch.
Bring the tick chart right below the chart
You can change the shape and position of the Market Watch window as you prefer. Placing the tick chart right below the main chart facilitates finding entry points.
Step 3
To set up the tick chart, right-click on it and select the item you want to configure from the context menu.
|
Number |
Item name |
Description |
|---|---|---|
|
1 |
New Order |
Display a new order window. |
|
2 |
Chart Window |
Display the chart for the symbol. |
|
3 |
Auto Scroll |
Enable/disable the auto scroll for the tick chart. |
|
4 |
Crosshair |
Show/hide the crosshair on the tick chart. You can check the Bid/Ask prices at a specific time by moving it on the chart. |
|
5 |
Bid Line |
Show/hide the Bid price (blue) on the tick chart. |
|
6 |
Ask Line |
Show/hide the Ask price (red) on the tick chart. |
|
7 |
Last Line |
Show/hide the last traded price (light green). If the broker doesn't provide the last price, it won't be displayed regardless of this setting. |
|
8 |
Grid |
Show/hide gridlines on the tick chart. |
Tick chart on the Depth of Market window
On MT5, the Depth of Market window also shows the tick chart. Although the number of brokers providing the depth of mark data is limited, the Depth of Market window is also useful as a scalping tool.
Last updated
: 2024.07.30
Nakamaru is a manual production consultant at FINTECS, a company that specializes in creating manuals for their clients.
With a wide range of experience from fintech to entertainment, he presents what user-friendly manuals should be like.
He works with numerous large corporations as an external manual production project manager.
【Business information】
http://www.fintecs.co.jp/profile/
Supervisor
Akira Takagi
Systems engineer, MetaTrader administrator
After graduating from Computer Science at the Uninove, Brazil, in 2014, he has worked on various systems development projects.
He participated as a developer in the launch of forex services in 2019. Since then, he has also been involved in the development of MetaTrader plugins and APIs. He is certified by MetaQuotes as a MetaTrader5 Administrator and active in consulting and advisory as well.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
