It is my understanding that a “tick chart” is simply a representation of every single tick coming over the wire (modern version of the ticker tape). On Oanda, we can’t choose a tick chart but we can choose a 5sec chart.
In looking at this 5sec chart, I’m wondering how this is really that different from a tick chart. I suppose each “candle” here could have multiple “ticks” and perhaps that would cause it to look different. Plus it’s sectioned evenly in groups of 5 seconds whereas a tick chart would theoretically be no sectioning, just a flow of ticks (right?)
So my question is… for all intensive purposes, can’t the 5sec chart be used in the same way that one would study a tick-chart to get the “feel” of the market? In other words, to spot strength that would normally be hidden in a larger-TF candle.
I would say yes… I have a live account with Oanda and at one time a demo account with the broker CMS. At the time CMS used the VT trader platform with tick charts.
I found the 5 sec Oanda chart was a very close match to the CMS tick chart. When I was bored I would throw up a tick chart with the 200ma and 500ma and try to trade it, I wasn’t very successful but it was fun!