Cumulative Tick Chart for 5-19-2010

Here’s the 5 min ES chart showing today on the far right. The cumulative tick did well in the morning for identifying direction, but got killed in the late afternoon sideways trade, as I suspected it would in chop (and pointed out at the time on Twitter):

Really, the holy grail is correctly calling a range bound market vs. a trending market IN REAL TIME. Anyone can call it after the fact, of course. More ideas to come…


9 Responses to “Cumulative Tick Chart for 5-19-2010”

  1. tapesense Says:

    I think the tick is a good cue for a scalp or reducing heat on an entry, when rsi walks up or down and tick walks ahead. But breadth can also follow, as a reaction instead of a guide. Range bound markets seem an issue of timeframes, which makes them a bitch to address except to watch 8 charts at a time, to see if some are over and some under significant ma, or none are providing a signal, if any show incomplete moves, or have reached a capitulation. I remember traderfeed identifying trend days by having some kind of sector red light green light thing. I just put together a market thrust rsi, we’ll see if that’s any use..

  2. Vadim Says:

    Hi, Prospectus. I don’t knew how to write private message to you, so I write to you in comments) I want to ask you about ticks. Thinkorswim include minimum timeframe=133ticks, but for scalping will be better to analize 1-10 tick charts. Could you help me with this? Is it possible to write script for 1 or 5-10 tick charts? Thank you

  3. Prospectus Says:

    No, TOS can only go down to 133 tick charts right now. And we can’t make custom bar objects, so we’re stuck. Now, QuoteTracker can plot custom tick charts like that, and it’s free to TD account holders. I don’t know if they are the same now since TD bought TOS. Hopefully in future we’ll get the ability to access the tape like that in TOS.

  4. Josh Says:

    Hello Prospectus,

    I have a question, I can across this trader that uses what he calls the pace of the tape in futures trading. It measures the speed of how the orders are coming in.

    I was wondering if this can be done in TOS.

    he made a video on this on youtube

  5. B.Rolands Says:

    Hi, Prospectus. i’m like Vadim. I didnt see “contact” and have question for you, but not about tick. i have question about variablelookbackpivot. Im ok at thinkscript but no genius. could not see what part of code puts it at far right of screen. how you do that?

  6. Robin Banks Says:

    I filled in the DDE spreadsheet to track a group of futures. For scalping, the cumulative tick idea excites me, and I was looking to try and add it to the spreadsheet. But this was also to try and show the real time bid/mark/ask tick spread. My theory is that scalps will do better in high active volume, large bid size plus ask size, as the spread widens. It may turn out to be baloney, or it may turn out to be the holy grail of sniffers for scalping turf! :o)

  7. Vadim Says:

    Is it possible to write “Renko indicator” or “tool” fot illustration standart chart in Renko Charts for TOS?


  8. Prospectus Says:

    Yes, you could do something like I did with my range bar indicator.

  9. Ray Low Says:

    can you help, I tried to down load your cumulative tick v.2 but it went to a movie time file and would not open. I do not have any programing skills at all. Is there a trick to downloading this?

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