This is Tick Chart script and it calculates & shows for Tick Chart. What is Tick chart? Tick Chart is created using ticks and each in Tick Chart shows the price variation of X consecutive ticks (X : Number of Ticks Per Candle). For example if you set "Number of Ticks Per Candle" = 100 then each is created using 100 ticks. so, Tick Charts are NOT time-based charts (like Renko or Point & Figure Charts). Tick is the price change in minimum time interval defined in the platform. There are several advantages of Tick Charts. You can find many articles about Tick Charts on the net.
Tick Chart and Tick Chart only work on realtime bars.
You can set "Number of Ticks Per Candle" and the colors. You can also set any of the candles OHLC values as source for .
While using Tick Chart I recommend you to add Tick Chart as well.
P.S. Tick Chart script can be developed using different methods. in this script, all values are calculated on each tick because is calculated for only real-time bars, and also calculated for limited number of bars
Tick Chart and Tick Chart RSI:
Tick Chart RSI:
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.