An introduction to the Tickspeedometer indicator for Tradestation securities

An introduction to the Tickspeedometer indicator for Tradestation securities which delivers the optimal tick chart setting for the equivalent time based charts. Tick charts are a powerful way to trade any market and specifically, a tick chart gives you five major advantages:

  • Tick charts allow you to see momentum changes and the associated volume changes – as they happen.
  • Tick charts allow you to fade the amateurs. Low volume activity on tick charts will reveal where the amateurs are buying or selling.
  • Tick charts allow you to jump on breakouts fast. A time based chart will take minutes to close. A tick based chart will get you in early and out early too.
  • Tick charts reveal changes in market sentiment very fast, which you never see on a time based chart. If the tick speed is falling, then momentum is draining away. If the tick speed is rising, momentum is building.
  • Tick charts give you much clearer and more precise entry and exit signals using three criteria – price, volume and momentum. Time based charts only offer two – price and volume.

So, some powerful reasons to use tick charts in your trading. And at this stage you might be asking some questions such as…..

  • How do I know what tick speed to use for a particular instrument
  • How do I know when the tick speed has changed during the session
  • How do I convert a time based chart to a tick based chart

All great questions and indeed ones you will find asked in trading forums around the world. Many traders simply guess at a tick speed, or ask their fellow traders for advice. Others suggest ‘magic’ numbers which have some mystical quality, and which are then passed on from one trader to another! Worse still, the same tick chart is then applied for the entire trading session in the same way as a time based chart, making the entire approach worthless.

The Quantum TickSpeedometer for Tradestation answers all these questions and more, putting the power of tick chart trading at your fingertips. You will be amazed and shocked at the variation in tick speeds from one market and instrument to another, which is why it is so powerful. As an example, the average tick speed for gold on a 5 minute chart might be a few hundred ticks, on the ES E-mini, this could be a few thousand.

So how does it work?

First, the indicator is dynamic. This is not a static indicator which only displays data based on history. It is dynamic, counting and displaying tick activity in realtime as the market moves tick by tick and minute by minute.

Second, the indicator acts as the bridge between time and tick. Apply the indicator to a time based chart and it will display the current tick speed for that instrument, at that precise moment in the session. It’s a time tick converter if you like. So for example if you are an index trader and prefer the 1 minute chart, apply the indicator and this will then display the equivalent tick speed for the index dynamically. This will change throughout the trading session allowing you to see the momentum changes as tick speeds increase or decrease accordingly

Third, the indicator displays both the actual and the closest Fib number. This gives you the option to trade using the actual tick speed, or the closest Fibonacci number to the actual. The Fibonacci number will change less often requiring fewer changes to the tick chart setting, whilst the true number will change more frequently. It’s your choice.

Fourth, the indicator includes a traffic light system which gives a visual signal of whether the tick speed for that timeframe is speeding up or slowing down. When the red traffic light is displayed it’s a strong signal of low volatility, and a warning signal of possible danger ahead as the price action move into congestion.

Fifth and last, the indicator displays the levels of tick activity graphically, showing those areas of high medium and low volatility.

The indicator works in all timeframes and with all instruments and markets. So whether you are a scalping trader on the ES E-mini or other indices, or perhaps a swing trader of commodities, stocks, or bonds, the indicator will deliver all the tick information you need to start trading with the professionals.

The Quantum Tickspeedometer for Tradestation finally puts the power of tick trading within your grasp. No more guesswork, no more asking other traders – soon they will be asking you! The Quantum Tickspeedometer is easy to install and configure, then presents all the tick data for you simply and graphically. All you have to do is start trading and join the professionals today.

The tickspeedometer in action and a typical workspace on the Tradestation platform

The tickspeedometer in action and a typical workspace on the Tradestation platform.

A surprising difference in tick speeds revealed using the Tickspeedometer for Tradestation

A surprising difference in tick speeds revealed using the Tickspeedometer for Tradestation.In this video we show you the tickspeedometer settings for the NQ emini and the ES emini which are very different to what you might expect. Both are index futures, and both in US market, but as you will see on the video, the optimal tick speed settings for the respective tick charts are hugely different. This simple analysis reveals how each instrument and market has it’s own characteristic when it comes to the optimal tick chart setting for each and why guessing at the tick setting is so misleading, as no longer are you trading at the optimal setting and in harmony with the market.

How to change tick charts fast for the Tickspeedometer indicator on Tradestation

In this video we explain how to change tick charts fast for the Tickspeedometer indicator on Tradestation. So even if you’re a tick chart trader using the exact tick setting this is lightening fast.

Using the Tickspeedometer for spot forex markets on the Tradestation platform

In this video we show you how to use the Tickspeedometer for spot forex markets on the Tradestation platform. The indicator can be used for all markets and instruments including spot forex and all you need to do is to change the volume setting to tick count rather than trade volume.

Using the Tickspeedometer indicator to trade commodities on the Tradestation platform

In this video we explain how to use the Tickspeedometer indicator to trade commodities on the Tradestation platform. And in particular coffee, sugar and cotton and once again showing the wide range in ticks which vary from market to market when trading using this non time based approach.

Tick chart settings for currency futures using the Tickspeedometer for Tradestation

And the Tickspeedometer for Tradestation works in just the same way for for currency futures. And in addition, of course, we can also use the currency strength indicator for Tradestation to help us in our analysis.

An example of the Tickspeedometer and the euro currency future on the Tradestation platform

An example of the Tickspeedometer and the euro currency future on the Tradestation platform. The EUR/USD is one of the most popular contracts whether on spot fx markets on for currency futures.

The Tickspeedometer in action for currency futures on the Tradestation platform

The Tickspeedometer indicator in action for currency futures on the Tradestation platform. The indicator for Tradesttaion delivers the optimal tick chart settings for all markets including currency futures.