TICK+ [Pt]

17 Mac

█ TICK+ [Pt] – Advanced US Market Internals & TICK Distribution Tool

TICK+ [Pt] is a comprehensive indicator that decodes US market internals by leveraging the TICK index—the net difference between stocks ticking up and those ticking down. Unlike many standard TICK tools that only plot raw values, TICK+ provides multiple visualization modes, dynamic moving averages, an independent MA Ribbon, a detailed distribution profile, divergence and pivot analysis, and real-time data tables. This integrated approach offers both visual and quantitative insights into intraday market breadth, trend sustainability, and potential reversals—making it an indispensable tool for trading US indices, futures, and blue‑chip stocks.

Market internals enthusiasts often consider the TICK index indispensable for trading these markets. By offering an immediate snapshot of sentiment and confirming trends through additional analytics, TICK+ gives traders a decisive edge—helping to determine whether a rally is truly supported by broad participation or if caution is warranted.

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█ Key Features:

► Market Internal – Multiple Display Modes:

• Line Mode: Plots the TICK index as a continuous line for a clear view of real‑time values and trend direction.
  
• Bar Mode: Uses traditional bar charts to represent the TICK index, emphasizing the magnitude of changes.
  
• Heikin Ashi Mode: Applies the Heikin Ashi technique to smooth out fluctuations, making the underlying trend easier to discern.
  
• Iceberg TICK Mode: Fills the area between zero and the highs in green, and between zero and the lows in red—highlighting how long the market remains in positive versus negative territory.
  

How It Works & Usage:
These display modes enable traders to select the visualization that best fits their analysis style. For instance, Iceberg TICK Mode highlights the duration of market strength or weakness, a critical factor for intraday directional assessment.

Comparison of Display Modes

► Dual Moving Average – Fast & Slow:

• Computes two moving averages on the TICK index:
  • Fast MA – reacts quickly to recent changes.
  • Slow MA – confirms the overall trend.
  
• Crossovers provide clear signals:
  • Fast MA crossing above the slow MA indicates rising bullish momentum.
  • Fast MA crossing below the slow MA indicates increasing bearish pressure.
  

How It Works & Usage:
These dual moving averages assist in detecting momentum shifts. Crossover signals can be used to time entries and exits to align with prevailing market sentiment.

Dual MA Crossover Example


► Moving Average / Smoothed MA – Smoothed & Base Moving Averages:

• Calculates a Base MA and a Smoothed MA on the TICK index to reduce short‑term volatility.
  
• Helps clarify the prevailing trend, providing additional confirmation alongside the dual moving averages.
  

How It Works & Usage:
These averages filter out noise and offer extra validation of the current trend, enhancing the reliability of trading signals.

Base and Smoothed MA Example


► Moving Average Ribbon – MA Ribbon:

• Independently plots several moving averages together as a “ribbon,” each line customizable in length and type.
  
• Visually reflects overall market directional strength:
  • Consistent green color indicate sustained bullish conditions.
  • Uniform red color indicate prevailing bearish sentiment.
  

How It Works & Usage:
The MA Ribbon provides a layered perspective on market internals. It enables traders to quickly gauge the robustness of a trend or identify early signs of a potential reversal.

MA Ribbon Trend and Shading


► Divergence - Pivot based – Divergence & Pivot Analysis:

• Integrates divergence detection with pivot-based trendline analysis.
  
• Identifies instances when the TICK index and price action diverge, serving as an early warning of a weakening trend.
  

How It Works & Usage:
Divergence signals help refine trade entries and exits by indicating potential trend reversals or adjustments in market sentiment.

Divergence Analysis


► TICK Distribution Profile – TICK Distribution Profile:

• Divides the TICK index range into multiple bins to create a profile of how TICK values are distributed.
  
• Identifies the point of control—the level where most TICK readings concentrate—relative to zero.
  
• Allows adjustment of the lookback period to detect shifts in market bias, such as a move from a neutral zone toward extreme levels.
  

How It Works & Usage:
By visualizing the distribution of TICK readings, traders can monitor changes in market internals that may precede significant trend changes.

TICK Distribution Profile


► ZigZag – ZigZag:

• Applies a zigzag algorithm to filter out minor fluctuations and identify significant swing highs and lows.
  
• Highlights trend extremities and potential reversal points.
  
• Offers an optional extension to the last bar for dynamic trend tracking.
  

How It Works & Usage:
The ZigZag feature helps traders focus on the major price swings that define market structure, eliminating the noise of insignificant movements.

ZigZag Example


► Pivot Trendline – Pivot Trendline:

• Draws trendlines connecting pivot highs and pivot lows.
  
• Provides settings to display only the most recent trendline or extend the last trendline.
  
• Assists in identifying evolving support and resistance levels.
  

How It Works & Usage:
Pivot trendlines offer clear visual cues for key price levels and potential reversal zones, aiding in the timing of trades.

Pivot Trendline Example


► TICK Levels – TICK Levels:

• Defines key thresholds for the TICK index, including neutral levels, trend zones, and overbought/oversold (OB/OS) extremes.
  
• Highlights these levels to assist in identifying conditions that may trigger caution or present opportunities.
  

How It Works & Usage:
Marking these levels provides an immediate reference for assessing when the TICK index enters critical zones, guiding risk management and trade planning.

TICK Levels


► Background Color – Background Color:

• Optionally changes the chart background based on TICK or moving average thresholds.
  
• Provides additional visual cues regarding shifts in market sentiment.
  

How It Works & Usage:
Background color changes help reinforce key signals by immediately indicating shifts in market internals, enhancing overall situational awareness.

Background Color Example


► Data Tables – Data Table:

• Displays essential market data in a single, easy-to-read table, including the TICK index source, market sentiment (e.g. Bullish, Bearish, or Neutral), trend status (such as Accelerating ⇗ or Retracing ⇘), and the current TICK value with color-coded strength.
  
• Consolidates numerical data for a quick and precise assessment of market internals.
  

How It Works & Usage:
The data tables provide live, numerical feedback that complements the visual analysis, making it easy to monitor market sentiment and trend changes at a glance.

Data Table Display with Metrics


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█ Customization & Input Flexibility:

TICK+ [Pt] offers extensive input options organized into feature‑specific groups, enabling traders to tailor the tool to various strategies:

► Market Internals Group:

• Selects the primary TICK index source (with an optional custom override).
  
• Provides a choice of display modes (Line, Bar, Heikin Ashi, Iceberg TICK) with configurable color schemes.
  
• Includes options for iceberg overlays and highlighting.
  

► Moving Averages Groups (Dual, Smoothed/Base, MA Ribbon):

• Dual MA group: Settings for fast and slow moving averages, including type, length, color, and crossover alerts.
  
• Smoothed/Base MA group: Additional methods to filter out short‑term noise and confirm trends.
  
• MA Ribbon group: Independently plots multiple moving averages as a ribbon, with full customization for each line.
  

► Divergence & Profile Groups:

• Includes inputs for divergence detection (source, pivot lookback) and customization of the TICK Distribution Profile (lookback period, color thresholds, layout details).
  

► ZigZag & Pivot Trendline Groups:

• Allows customization of zigzag parameters to highlight trend extremities.
  
• Provides settings for pivot trendline appearance and behavior.
  

► TICK Levels & Background Colors:

• Defines thresholds for neutral, trend, and extreme levels.
  
• Offers color selections for level markers and optional background shading.
  

► Data Table Configuration:

• Enables setting of table location, lookback intervals, and font size to present essential TICK metrics in a user‑friendly format.
  

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█ Additional Insights:

► TICK Index Fundamentals:

• Monitors the net difference between stocks ticking up and down.
  
• A positive reading indicates broader market participation, while a negative reading suggests increased selling pressure.
  
• Understanding how long the TICK stays above or below zero is crucial for gauging intraday momentum.
  

► Role of Moving Averages:

• Smooth out short‑term fluctuations, helping to highlight the prevailing trend.
  
• Crossovers between fast and slow MAs can serve as clear signals for market momentum shifts.
  

► Interpreting the MA Ribbon:

• Provides a layered perspective on market direction.
  
• Consistent color and alignment confirm a strong trend, while variations may hint at reversals.
  

► Utility of the Distribution Profile:

• Breaks down the TICK index into bins, identifying the point of control.
  
• Changes in this control zone—particularly over different lookback periods—can signal potential trend changes.
  

► Precision of Data Tables:

• Supplies live numerical feedback on key market internals, ensuring trading decisions are based on precise, real‑time measurements.
  

► Comparative Advantage:

• Unlike many TICK tools that simply plot raw values, TICK+ [Pt] provides an integrated, multidimensional analysis of market internals.
  
• Its advanced features—ranging from unique display modes to sophisticated analytical components—make it indispensable for trading US indices, futures, and blue‑chip stocks.
  

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Disclaimer
This indicator is provided for educational and research purposes only and does not constitute financial advice. Trading involves risk, and thorough testing on historical data is recommended before applying any strategy using TICK+ [Pt] in live markets.

26 Mac

Nota Keluaran

Bug Fixed:
◊ Error on 5min chart or higher when Zigzig "Show Trend Extremities" option is toggered on