Tradingview tick charts | What you need to know

In this post I’d like to answer a common question among tradingview users: Does TradingView offer tick charts?

To date TradingView tick charts are not standard on the platform. Only time based and range chart bars are supported. However, there is now the option to add a third party ‘Tick Chart’ custom script as an indicator to any chart that has access to tick data.

If you prefer using tick charts in your trading. In the following post I’d like to provide more detail about adding this custom script to your Tradingview charts. I’ll also provide an alternative platform similar to TradingView that supports tick charts – That arguably provides a better option for those traders that like using Tradingview but prefer Tick data.

What are tick charts?

A tick represents a single trade. A single trade can represent any number of contracts transacted.

Tick charts draw a new bar after a specified number of trades are transacted. For example a 1000 tick chart draws a new bar after 1000 trades.

This varies from conventional time based charts that draw a new bar after a specified period of time. For example after every 1 minute.

Why use tick charts? Advantages of tick charts

Tick charts are a popular option among traders. Using tick charts over other bar charts depends mostly on an individual trading strategy and the sort of information that’s important to represent graphically.

Tick bars represent the number of transactions. Therefore:

• The rate that bars print provides insights into the volume of transactions and the amount of market activity.

• Tick charts provide greater pattern/structure resolution in periods of increased transaction volume. During periods of low activity bars are compressed.

• Ideal for traders whose strategy is volume or transaction biased. Versus traders whose strategy relies more on time based information.

Does TradingView offer tick charts?

TradingView still doesn’t offer OFFICIAL built in tick charts.

There have been suggestions that tradingview have been planning to add tick data since late 2019, but as of the time of writing, no update to the platform or any announcement has been made.

If you’re a fan of tradingview and a user of tick based charts or volume based charts. This is disappointing.

Many TradingView users and fans would love to see the developers and creators introduce TradingView tick charts data to the platform.

However, if you’re determined to use tick chart with Tradingview there is NOW available an open source third party custom script available…

Third Party Custom Script

An open source custom ‘Tick Chart’ script created by a third party coder (LonesomeTheBlue) is available for free to add to any chart that has access to tick data.

This Custom script can be added as an indicator and tick data is presented in a separate window below the main time based chart.

To Add this custom script to your charts:

1. Go to the indicator icon in top menu bar
2. Under ‘Community Scripts’ search for ‘Tick Chart’
3. Double click the indicator to add it to your chart
4. Under settings adjust the indicator parameters to suit

Whilst this is a nice addition from the Tradingview community. Personally I’d prefer to have the option within Tradingview as standard to access tick data on the main chart.

We will have to wait and see if Tradingview still intends on integrating Tradingview tick charts in the platform.

If you prefer using tick based charts for your daily trading. Consider using Multicharts – It’s similar to Tradingview in many ways and the platform offers integrated tick data charting as standard. See below for more details.

TradingView alternative platform that offers tick charts (Still the best option)

If you enjoy TradingView but need tick chart data then consider trying MultiCharts.

MultiCharts

Multicharts is made by the creators of TradingView. Multicharts is a quality and affordable alternative to TradingView. The software is available free with a demo or funded brokerage account or for outright purchase with a fee.

The Multicharts interface has a similar look and feel to TradingView.

The default settings are basic. But with some customization its easy to build a great looking charting setup similar to TradingView.

If you’re interested in trialing MultiCharts. An easy option is to open a demo account that supports the platform.

If you are a futures trader then AMP futures is a good option for beginner and intermediate traders. The use of Multicharts is free with a funded AMP Futures brokerage account.

For more information on trialing and getting started with MultiCharts. Check out my post – ‘How to use MultiCharts’.

In this post I’ll detail how to download and install the platform. How to connect to a live data feed. Using charts and work-spaces. How to execute orders plus more.

MultiCharts license options and pricing

If you have a preferred broker, the platform is also available for lease or a life time license purchase.

Multicharts supported brokers

Multicharts supports several quality brokers for stocks, forex and futures trading. To see a full list of supported brokers click the link.