By popular demand the company managed to implement tick-by-tick data presenting traders with new strategy opportunities
The company behind the creation of award winning trading platforms cTrader and cAlgo, Spotware Systems, has announced that it is implementing tick charts in its NDD offerings. The difference in tick chart creation is that instead of using a preset timeframe for creating a bar, a predetermined number of ticks is used to draw every bar. According to the company’s press release, the implementation is an answer to a growing demand from customers.
According to cTrader’s project manager at Spotware Systems Alex Katsaros, the introduction of tick charts is coinciding with growing user demand for new analytic tools. The new methodology is aimed at scalper traders and would not be available for other traders that use regular timeframe based charts. Some traders use tick charts to create volume indicators that supposedly facilitate their trading decisions when using conventional charts.
The new feature will be available on all 4 types of charts that the platform currently supports – lines, bars, candlesticks and the company’s latest addition – the dot charts. The feature will also be available for Spotware’s algorithmic trading platform – cAlgo.
According to Sergey Borisov, who is the technical lead for the algorithmic product, traders will be able to use market volatility and liquidity depth as primary indicators for their trading decisions. The tick chart can be set to draw a new bar at every tick or aggregate up to 55 ticks for each new drawing. For the ones who are trying to ascertain when was the most active period of market trading the new tool will certainly assist the creation of brand new strategies.