It's the prices (asks and bids) that occur in the market before the OHLC data is generated. But it's not only bids and asks. A "tick" is any kind of change in a price security (a new bid, a new ask, a transaction at a trade price, a change in volume).
In terms of tick data that can be retrieved, you can choose what kind of tick data should be retrieved in the software.
My apologies if this sounds very basic to some.
I just wanted to know what actually tick data is?
The below blog posts defines it as;
- https://www.mql5.com/en/blogs/post/749488 = How a tick is generated? : When you press buy or sell button to initiate or end any trade, it searches for bid and ask price in book depth. When your order is matched with bid or ask then a tick is generated
- https://www.mql5.com/en/blogs/post/756659 = Definition: Tick data represents each individual transaction or trade that occurs in a market, regardless of the size of the trade. It includes information such as the trade price, trade volume, and the time at which the trade occurred.
- https://quant.stackexchange.com/questions/3612/tick-data-collection#:~:text=Tick%20data%20are%20generally%20not,not%20just%20best%20bid%2Foffer. = Tick data are generally not just trades but changes on the bid and offer as well.
these says all transactions. pending, market orders and closed deals.
Below sample in MT5 format . (bid and ask orders in the same time?)
02Aug2024 10:00:02.100 Bid: 100 Ask: 105
02Aug2024 10:00:01.103 Bid: 103 Ask: 108
02Aug2024 10:00:00.103 Bid: 99 Ask: 104
thanks in advance.
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My apologies if this sounds very basic to some.
I just wanted to know what actually tick data is?
The below blog posts defines it as;
these says all transactions. pending, market orders and closed deals.
Below sample in MT5 format . (bid and ask orders in the same time?)
02Aug2024 10:00:02.100 Bid: 100 Ask: 105
02Aug2024 10:00:01.103 Bid: 103 Ask: 108
02Aug2024 10:00:00.103 Bid: 99 Ask: 104
thanks in advance.