Delta for tickchart bar is greater than tickchart setting

[Renorail]

Hi, I was exploring detlas for tick charts and noticed that on a 200 tick chart, I had delta values greater than 200. how is this possible? shouldn't delta have a maximum value of the tick chart setting?

[NinjaTrader_PatrickG]

What version of NinjaTrader 8 are you using? Please provide the entire version number. This can be found under Help -> About (Example: 8.0.?.?)

Please provide a screenshot of this chart's data series so that I may see all of the data series properties

[FMtrader]

Hi, I was exploring deltas for tick charts and noticed that on a 200 tick chart, I had delta values greater than 200. how is this possible? shouldn't delta have a maximum value of the tick chart setting?

Hello
A tick chart effectively sets the number of trades in a bar. Hence a 200 tick chart plots a new bar when 200 trades have gone through on the previous bar. What is doesn't factor is the number of contracts in any one trade. On a volumetric chart Delta is calculated from the difference between the number of contracts traded at the ask price less those traded at the bid.
If you look at a market such as the German Bund (FGBL) you will that the actual volume traded in a 200 tick chart bar is typically much higher than 200 contracts per bar. It is not unusual to see thousands of contracts transacted in one 200 tick bar. In other words the average trade size is much larger than 1 contract. In a strong directional market where for instance sellers are continually hitting the bid and driving prices down the magnitude of the delta value can be much greater than the 200 value used for the tick setting. This is because most of the volume is being transacted at the bid price. You will see the numbers on the left hand side of the volumetric charts bar being considerably larger than those on the right hand side.

[NinjaTrader_PatrickG]

FMtrader is correct - what you're viewing in the volume of a 200 tick (or trade) bar.

[Renorail]

Hello
A tick chart effectively sets the number of trades in a bar. Hence a 200 tick chart plots a new bar when 200 trades have gone through on the previous bar. What is doesn't factor is the number of contracts in any one trade. On a volumetric chart Delta is calculated from the difference between the number of contracts traded at the ask price less those traded at the bid.
If you look at a market such as the German Bund (FGBL) you will that the actual volume traded in a 200 tick chart bar is typically much higher than 200 contracts per bar. It is not unusual to see thousands of contracts transacted in one 200 tick bar. In other words the average trade size is much larger than 1 contract. In a strong directional market where for instance sellers are continually hitting the bid and driving prices down the magnitude of the delta value can be much greater than the 200 value used for the tick setting. This is because most of the volume is being transacted at the bid price. You will see the numbers on the left hand side of the volumetric charts bar being considerably larger than those on the right hand side.

Ahhh, that makes sense. Thank you!

[FMtrader]

Ahhh, that makes sense. Thank you!

Glad to help.
Cheers