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This indicator showed within the painted candlestick bars or ohlc bars the price area where the majority of ticks were taking place. A standard bar paints the high low open close prices where , as an example, a single tick can give the high price for the bar but this may be misleading as the majority of trading is being done at a lower price within that bars high low range.
If I remember correctly it put hash marks on the bar being painted showing the price area that most of the ticks were occurring.
This indicator showed within the painted candlestick bars or ohlc bars the price area where the majority of ticks were taking place. A standard bar paints the high low open close prices where , as an example, a single tick can give the high price for the bar but this may be misleading as the majority of trading is being done at a lower price within that bars high low range.
If I remember correctly it put hash marks on the bar being painted showing the price area that most of the ticks were occurring.
No not marketprofile although the principle is somewhat the same, the marketprofile shows in horizontal graphical form how many times a particular price traded over a period of time. The time frame can be daily or set based on the number of past bars depending on what version of marketprofile is being used.
The indicator I am looking for shows within each vertical painted bar where the most accumulation of ticks is occurring for that bars particular time frame.
No not marketprofile although the principle is somewhat the same, the marketprofile shows in horizontal graphical form how many times a particular price traded over a period of time. The time frame can be daily or set based on the number of past bars depending on what version of marketprofile is being used.
The indicator I am looking for shows within each vertical painted bar where the most accumulation of ticks is occurring for that bars particular time frame.
Thanks for the reply!
Bill Williams MFI do something similar but with volume.
Some people consider ticks as a representation of volume. We could talk about why this is not true in retail forex where you have pips and not ticks but that's another history.
Market Facilitation Index comes by default with MT4.
Linear Mode
