Day Trading Charts and Indicators

Day Trading Tick Charts and Indicators

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Today’s quick lesson is about day trading charts and indicators. This is what my typical chart looks like. I usually use two to three different charts. They both they all look the same is just a different time frame. But I personally don’t use time frames.

I use ticks. As you can see here, it says six hundred and ten ticks. I call this my six hundred and ten tick chart. And basically all it is is if you look right here on a bar inside this one bar there were six hundred and ten transactions done for the ES mini.

Best Tick Chart for ES

This is the ES Mini. I follow the. Is the S&P 500 index futures. And that’s what it’s called the E mini. So basically all it is each bar is six hundred and ten ticks. I also use a larger time frame, but again, it’s still in Texas.

Fifteen hundred and ninety-seven tick chart, which is two and a half times more of this basically just gives me a little bit more of a macro view. So this is what my chart looks like. Each box is.

A point which is 50 dollars in the futures market. And it is split into four.

Ticks, which is different than these ticks. I know in the futures market it’s a little bit crazy. You have the ticks that are four takes in a point which equals fifty dollars and then you have the tick bars, which is transactions per bar there called the exact same word.

But they did. They have totally different meanings. So this three years one point and it’s split into four ticks.

This is how I would be calculating my entries exits and how much money I have made or lost during the day.

So that’s why I have this grid split up into point grid. It’s just easier for me to see because I am a scalper. I only go for smaller profits, which is about one point. So here are my two indicators.

Tick Chart Indicator

I personally only use three indicators in total. I use the EMA indicator.. I have both of the lines for both charts and also the MACD indicator. This is the movement when you look at this line right here at the zero line. Anything that is above it shows the strength.

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If it is a buyer’s market. If the market is going higher and if you look below it, it shows the strength. If it is going to the downside, if it is going short a sellers market.

All it shows me is the strength of entry, for instance, right here. This is a pretty strong entry move going up, so this shows me that it’s a strong buyer’s market. Those are the three main others.

The third indicator itself is the actual tick bars because the majority of the people will use the time charts either 1 minute, five minute, daily, weekly. So using a tic counter is actually considered more of an indicator rather than the time frame of The market

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Tick Bars on Financial Charts

So those are my three main indicators that I work with. Shows the strength. And then also you can start to read the tic bars as well. For an indication of where it’s going to be going, if it’s closing strong at the end of each one, that means that’s the strength that it’s giving at that moment.

And you need to see how it’s going to continue when it’s closing like this in the middle. That’s kind of an indecision moment like right here. You’re not sure where it’s going to go, so it’s better to sit it out and then it actually goes down afterwards.

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So you don’t need a lot of indicators, you can make it as simple as possible to understand. Where the market is going, you don’t need flashing lights. You don’t need a lot of other things. The easier the better.