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Tick charts are gaining popularity among day traders and scalpers due to their unique perspective on trading compared to traditional time-based charts. They provide insight into market momentum and trend strength, making them effective for short-term trading strategies. Bars on tick charts are plotted based on a specific number of transactions, such as 200 trades per bar. This allows traders to find better entries in their trading strategies by focusing on transaction volume rather than time intervals. Tick charts are particularly useful for scalping and day trading due to their simplicity and efficiency in capturing market movements.