Trade Volume Index---Tick Size is important

[TechGuy]

I added Tick Volume as a standard chart on all my templates. The problem seems to be that the chart is not representative across all price levels since it must have the same tick value. What can I do to make the tick value change automatically based on the price? Lots of sources indicate that tick value is very important and I want to incorporate into my template. Thanks.

 

[TechGuy]

I think the Trade Volume Index sounds like a very worthwhile indicator. When using the Trade Volume Index, you must input the minimum tick value as a parameter. My concern is shouldn't this minimum tick value input be different depending upon the market price of the stock/future. Some futures have a $ price that is very small (currencies, /6B) while others very large $ price (agriculture, /ZS). Same for stocks AAPL,VGK as an example. Or must one keep changing the tick value for every security? Thanks for your help.

 

[MerryDay]

I think the Trade Volume Index sounds like a very worthwhile indicator. When using the Trade Volume Index, you must input the minimum tick value as a parameter. My concern is shouldn't this minimum tick value input be different depending upon the market price of the stock/future. Some futures have a $ price that is very small (currencies, /6B) while others very large $ price (agriculture, /ZS). Same for stocks AAPL,VGK as an example. Or must one keep changing the tick value for every security? Thanks for your help.

Yes, one must keep changing the tick value for every security

 

[TechGuy]

Yes, one must keep changing the tick value for every security

This would seem to be a lot of wasted time if one is looking at a variety of securities throughout the day. But if one is trading just a few contracts, probably ok. What do you recommend as an alternative volume indicator(s) that may be good for most securities? Or for those who may use Tick Volume Indicator, what tick value do they use for currencies? I tried changing the value for /6B and a few others, but the line is just flat! Thanks

 

[gacgac91]

This would seem to be a lot of wasted time if one is looking at a variety of securities throughout the day. But if one is trading just a few contracts, probably ok. What do you recommend as an alternative volume indicator(s) that may be good for most securities? Or for those who may use Tick Volume Indicator, what tick value do they use for currencies? I tried changing the value for /6B and a few others, but the line is just flat! Thanks

Make copy of the study and just label it by its tick size.

 

[TechGuy]

Make copy of the study and just label it by its tick size.

So, you are saying make several copies of the study each for a certain tick size ?