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Formula 201 – #15 TP Candle Formula Indicator
Here is an example indicator that combines the use of meta style and tick precise concept for the visualization of tick level data behaviour.
Complete Indicator
What It Does
The TP Candle Formula indicator takes any formula calculations you provide, including TP indicators, and turn that into a meta candlestick series through using Tick Replay.
The indicator itself is very simple. It is a good example of what can be done with formula language. Feel free to examine the code and utilize the concept in your own indicators.
Example Usage
Here is a chart of Emini S&P, set to 1-sec base bar, Price Range superposition at 2.5 points.
The middle pane of the chart is based on the indicator TPBidAskTradeVolN indicator, while the bottom pane of the chart is based on the indicator TPTickN. Both indicators are set to accumulating all ticks with no break.
The coloring of the meta candles is done through the use of Formula Coloring in Indicator Setup window > Color tab
Other Interesting Usage
Have you seen how a MACD develops itself within a bar? What about your favorite oscillators?
Just plug the formula into the indicator and apply Tick Replay on the chart. You may gain some new understanding of the indicators you are using everyday.