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Q: As I understand it, the open of a bar is the price of the first trade in that bar, and the close the price of the last, according to convention. If so, why do bars on a 1-tick chart have close not equal to open on occasion?
A: Your statement is correct. However, for a 1 tick chart it is hard to see the single dots. Therefore, we have modified the bar for the 1 tick chart to draw a bar from the prior tick to the new tick. The Last is thus the tick price, and the open is the prior tick price. the High and Low would be the range between these two prices when they differ. This makes the tick chart look more like a bar chart and is helpful to the eyes to follow the flow better for transition from one tick to the next. If you want to see just the tick dots then change the display mode to Ticks instead of Bars. Last modified 1/30/08 2:15 AM |
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