Tick Chart Weighted Indicator MetaTrader 4 - Free Download [TradingFinder]

The Tick Chart Weighted Indicator is designed as an advanced tool for short-term analysts on the MetaTrader 4 platform.

This indicator plots candlesticks based on the number of trades, and unlike time-based charts, it does not have a uniform time axis, since transaction volume and speed vary across different periods.

During moments such as the start of trading sessions, a surge in trade volume causes rapid fluctuations in the chart, creating multiple trading opportunities.

Tick Chart Weighted Indicator Table

The general specifications of the Tick Chart Weighted Indicator are presented in the table below.

Tick Chart Weighted Indicator at a Glance

The Tick Chart Weighted Indicator plots candlesticks based on time and links them to the indicator displayed in the lower section.

In the oscillator window, three main lines appear:

• Blue Line (Bid/Ask Weighted Line): Shows price movements with high sensitivity;
• Red Line (Bid Line): Displays market sellers’ side movements;
• Gray or Black Line (Weighted Price Line): The main computational line of the indicator, derived from the following formula:

Indicator in Uptrend

In the middle section of the chart, the blue line moves positively above the weighted line. This indicates rising demand and buying pressure. F

urthermore, an increasing gap between the blue line and the weighted line in price bottom areas signals the beginning of an upward move. 

After this signal, the candlestick chart also starts to rise, creating favorable conditions for entering buy trades in short-term intervals.

Indicator in Downtrend

In a downtrend, the indicator displays demand weakness and supply strength when the Bid Line separates from the weighted line and moves downward.

This condition is reinforced when a lower high forms compared to the previous high, and the indicator lines align with selling pressure.

The bearish signal is more valid when the weighted line acts as resistance, and the repeated reactions of the red and blue lines stabilize below it.

Tick Chart Weighted Indicator Settings

The image below shows the settings panel of the Tick Chart Weighted Indicator in the MetaTrader 4 platform:

• Period: Calculation period

Conclusion

The Tick Chart Weighted Indicator is a practical tool in technical analysis that, by analyzing trading volume based on the number of ticks in each period, displays market fluctuations with greater accuracy.

This indicator assigns more weight to price changes accompanied by higher volumes, therefore providing reliable signals for identifying entry and exit points.