LNL Smart TICK

7 Apr 2023

LNL Smart TICK

This study is mostly beneficial for intraday traders. It is basically a user-friendly "colorful" representation of the TICK chart with highlighted TICK extremes. This indicator also includes: a simple trend gauge that can visualize the bias for the day, cumulative tick cloud which is showing the cumulative strength of either longs & shorts on the day.

TICK Trend Gauge
Although it is just a exponential moving average. This average (default set on 20) works quite well as an overall gauge for the day. Whenever the gauge is green (above zero), any negative TICK values below -500 can offer great pullback opportunities. Same applies for the red gauge. 20 EMA is below zero ? Great time to fade any +500 or +1000 tick readings. Obviously the gauge can be ajdusted to any number based on personal style.

TICK Extremes (little triangles)
These little triangles are triggered anytime TICK jumps above or below the pre-set values of +1000 or -1000. By just simply observing the TICK triangles during the day can tell you how much volaility or pressure there is. Sometimes there will be 20 green triangles and only 2 red ones. That obviously mean there is a strong bearish pressure. But there will be days when you are not going to see any triangles at all which can mean there is either a low volatility or the price is stuck in the indecisive market.

Cumulative TICK Cloud
Cumulative TICK by itself is a great study for day traders. It is basically running "counting" TICK that is adding the previous TICK values from previous bars. Cumulative TICK can create a direct picture of the current market sentiment. It is not just a simple green / red line but a cloud that can really show you the depth on the TICK. Some days, the cloud will be quite wide which is a good sign for the strength to one side, but sometimes the cloud will be so narrow it will practically disappear. This would be telling you the exact opposite - not much conviction to any side. Of course the depth as well as the color of the cloud can change during the day.

TICK & Cumulative TICK Tables
By just looking at these tables. You can immidiately tell the state of the current TICK. They both can be red or green. It all depends whether the values are positive or negative. The tables are just a little visual addition to the whole TICK study.

Hope it helps.

20 Mei 2023

Catatan Rilis

Update - Added NYSE & NASDAQ Market Breadth Ratios.
The breadth ratios can show you the general state of the market. These labels are pretty much self-explanatory. Both green? That is a good signal of market health. Both red? Markets mood is leaning more towards the bearish side.