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 ( I use them with $TICKQ, too). Not tested with other instruments though, so, you-know, if it doesn’t….
Ticks above / below zero, and ratio
This was originally a separate indicator, now part of the Tamer. 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
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 index TICK’s 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 original 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.
For me, the Cumulative mode is the best part and is one of the best additions I made. Green, they are buying, red, they are selling. There’s not any other real interpretation. It makes seeing what the tick trend is, very, very easy. Trend days are more easily recognised.
Optionally enable audio alerts. Again, this is a simple thing, but after years of use, i can tell you it is very useful. If enabled, voice announcement (or other sound you prefer) will announce ‘tick new high’, or ‘tick new low’. You have no idea of the confidence this gives to hear this when you are aligned appropriately!
Bar the examples above, this is how I generally use it on my dashboard. Not the only way (or maybe even the best way), but it works for me. A template for this setup is included in the indicator package, so if you’d like to try it, just create a new tick chart and apply the pjsTamer template. I am pretty sure at the least, you’ll want to change the colours!
Another example. A bullish one.
if you already have a license key, please make sure you enter it in the indicator properties as part of the process of adding the indicator to your chart. Probably a good idea to ‘save as default’, so your key is remembered in your indicator template.
As usual, let me know below if any issues and I will try to resolve, time permitting.
This tool requires a license after the 7 day trial period. You can purchase one here. Please make sure the indicator meets your requirements, prior to purchase. Thanks for your support!
Can I install this on multiple computers? Yes – Up to 2 with the same licensed version of ninjatrader, with the same license key.
if you have any questions, please email us via the web site. If you already have the indicator, please be sure to provide your product key and machine id with the request. We cannot help you unless you provide your product key AND your machine id. Please note, your machine ID can be found in Ninjatrader, under the ‘Help, About’ menu.
Email me via the web site if you want to get in touch.