Time-based Data Resolution

A time-based chart uses a specified period of time to calculate each bar. For example, you can have a 20-second chart, 5-minute chart, a 30-minute chart, a daily chart, a weekly chart, and so on. In each case, the Open, High, Low, and Closing prices for that time period are recorded for each bar.

For example, a bar on a chart based on 30-minute bars represents the Open, High, Low, and Closing prices of all the transactions that occurred within that 30-minute period. The number of ticks in that 30-minute period could be 1, 112, or 10,000 (as time, not transactions), are the basis upon which each bar is constructed.

In a time-based data interval, the number of ticks recorded in each period is of no relevance and is not represented in the bar. When plotting an intraday time-based data interval (an interval less than a day, and based on time), you can create bar charts using 30-second bars, 1-minute bars, 10-minute bars, 30-minute bars, etc.