Tick Chart Weighted Indicator MetaTrader 5 - Free Download [TradingFinder]

The Tick Chart Weighted Indicator on the MetaTrader 5 platform 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.

Moreover, during the start of trading sessions, increased trading volume creates rapid fluctuations and sets the stage for 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 connects them with the indicator displayed at the bottom of the chart. In the oscillator window, three main lines are displayed:

• Blue Line (Bid/Ask Weighted Line): Displays price movements with high sensitivity
• Red Line (Bid Line): Reflects the changes on the sellers’ side of the market
• 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 above the weighted line, creating a positive gap between them; this reflects rising demand and dominant buying pressure. When this gap expands around price bottom areas, it signals the beginning of an upward move.

Indicator in Downtrend

In the bearish phase, the separation of the Bid Line from the weighted line, along with its downward movement, indicates supply dominance over demand.

When a new lower high forms compared to the previous high and the indicator lines continue their path in line with selling pressure, the bearish momentum intensifies.

The bearish signal is most valid when the weighted line acts as resistance.

Tick Chart Weighted Indicator Settings

The image below shows the settings panel of the Tick Chart Weighted Indicator in the MetaTrader 5 platform:

• Period: Calculation period

Conclusion

The Tick Chart Weighted Indicator acts as a practical tool in technical analysis, and by analyzing trading volume based on the number of ticks in each period, it displays market fluctuations with greater precision.

This trading tool assigns more weight to price changes accompanied by high volume, thereby providing more accurate signals for identifying entry and exit points.