OK, here are 2 indicators I have created and found useful. Both are designed to work solely with NYSE $TICK, but may work with other exchange tick or other instruments. Not intended to though, so, you-know, if it doesn’t….
This works on any time-scale. I personally use it on a fast and slower one. It is very simple, but surprisingly useful (to me, at least). It counts the number of closes above or below zero and reports those in the data series chart window, example below. So you have ticks closed up, closed down, and a ratio (not sure if the ratio is quite right yet!)
What use is this you say? Seems a bit simplistic! Well, yes. BUT, how many times have you looked at that mass of ticks, been caught out by a trend day, etc. The figures give you an idea what side is dominating, or if ~50/50, if we are likely to be in a range. Reading ticks is bit of an art. This helps, or more accurately, I found it helps me. Maybe it’ll help you too. Let me know.
This indicator takes an average of the high/low/median and plots that. Ticks can jump all over the place. As mentioned above, it’s a bit of an acquired art to read them. Sometimes they squirt up for a short period and close. I don’t feel this gives you a true picture. Using this method you get a nice chart. I feel it gives a much better idea of the overall tick trend. I tend to run this on much shorter time intervals. Here is an example that also has the built in SMA indicator applied to it. See how much more sense you make of the orange bars than the first example, above? Isn’t that a clearer picture?
This indicator may well be of use with other things. I’ve not used it for anything other than $TICK though. Anything that swings around a lot on a short term basis it would probably be of use for. Let me know below if you find it useful elsewhere.
Credit for the tamer idea goes to Peter Davies from Jigsaw trading. I know there are variations on this, but I saw an NT7 version of this idea on his website and decided I wanted something like it for NT8.
2017.01.27 Updated the TickTamer to include a Cumulative tick mode. If enabled in the properties, this plots cumulative ticks only. I’m watching this as an experiment, but it seems of value. Example image below.Bars painted red or green based on if ticks are getting worse or better over time.
You can download the latest version of the indicator here(Ninjatrader 8 version only)
As usual, let me know below if any issues and I will try to resolve, time permitting.
The tick indicators are free for non-commercial use but if you find it useful and wish to donate beer money, you can do so Via Bitcoin or PayPal. Any amount (no matter how small) will give you a warm fuzzy feeling and help me keep the power on. Be fair, just donate what you think is right. Thank you.
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