Traditionally, the TICK index is a technical analysis indicator that shows the difference in the number of stocks that are trading on an uptick vs a downtick in a particular period of time. This indicator allows user to choose up to 40 tickers to calculate TICK.
By default, it uses the SPY Top 40 stocks, but can be changed to any tickers.
There are options to show: - Top 7 , ie. can be used for just showing TICK for FAANGMT => FB + AMZN + AAPL + NFLX + GOOG + MSFT + TSLA - Top 10 - Top 20 - Top 30 - Top 40
Data can be displayed in candle bars, line, or both.
I use this indicator all the time, its great, usually top 30 stocks on cumulative mode... every so often a day like today it doesn't make sense to me... the 2 and 4 minute time frame will be mostly positive bars and then the 3 minute time frame is mostly negative. Would would think its also positive. Any thoughts?
PtGambler
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@richlabz, thanks for using my indicator~ very interesting observation. Let me look into it~
PtGambler
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@richlabz, looks like the math is correct. It just so happens that on 3 min, the TICK of the Top 30 was more negative throughout the day. Keep in mind that TICK does not care for candle size, it only looks at whether the candle was green or red. So prices could move upward with larger but fewer green candles.
richlabz
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@PtGambler, Okay I guess my fundamental understanding of TICK was wrong. Very helpful thanks!