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When it comes to volume, personally I think that really what I'd like to see is that single tick with some "substantial" volume behind it.
As such I actually maintain a volume count and compare this to actual price.
This seems to be a "fast" - leading - indicator but apart from that, I try to find only ticks that lead to a "large" price change and is "supported" by a "large" volume as well.
To be honest - this is part of my live trading systems so, any comments would be appreciated...
A screen copy of all the indicators I have posted (about tick data) on this thread.
Remember to use the template file.
Hope someone out there may find this useful in some way.
To show that it is possible to trade tick data directly from the tick chart, I have created a simple EA. From this, everyone should be able to use the charts in a meaningful way.
Please do remember, this is NOT a trading system - instead, the EA merely show that it is possible to incorporate the tick data in a proper trading system.
Because the tick data pass by so quickly I have been running the EA on the 1 min chart - basically to get/see how trades are placed.
Oh yes - it's using the signals generated from the tick volume indicator and (as for myself) this is propably one of the best indicators I have to define turning points.
However - it performs poorly with regard to defining direction so...