Clear Tick Indicator

[Minetoo 10]

The tick indicator ($TICK) is a very popular market internal however, I believe its efficacy is dropping as evidenced by increasingly frequent divergences. It is my understanding that the TICK is constructed with tick data from the entire NYSE listed equities. Is there any way to filter the TICK down just to the 500 stocks that constitute the S & P 500 like the TIKI, which only reflects the DOW 30?

Neoticker has attempted something similar with their TICK16 indicator.

[Sparrow 10]

From my limited knowledge i'd say that you're totally dependent on your data provider unless your charting platform lets you construct your own TICK like indicator.

[Minetoo 10]

I use Tradestation (fairly new to it). I know I can create a Radarscreen of the S&P 500 but don't know if/how I can manipulate it.

[Sparrow 10]

I don't know if this is any help or just garbage, it's from the ts support site and references ts2000i.

MetaServer might be able to do it as well, the price doesn't seem to be so steep.

[walterw 10]

It could be done, but you would need very good pc resources... my question is : will it really give you an edge ?... I find hard to believe that 1 tick fluctuation up/down on x +- stocks can give really a trend bias... If I was to build an indicator with the 500 sp`s and go definitive waco, I would create a composite delta of the 500 stocks and measure their true buy/sell pressure on x (variable input) back... that would be my dream... what platform.. dont know... cheers Walter.

[Sparrow 10]

The way i understand it MetaServer connects to the tradestation server and the tradestation platform gets its data from your local metaserver.

MetaServer allows you to create your own symbols (that's how i think it works)

[Minetoo 10]

NYSE consists of 2,764 issues. That's 2,264 more than anyone needs to see reflected in the TICK. I cannot believe that such an excessive number of equities will not distort and muddy the TICK.

[Minetoo 10]

Sparrow: as I understand it, it is a data issue. NYSEData provides the info. that constitutes the TICK Indicator. It would require cooperation on their end or high level programming on the chart vendors' side to develop a true TICK Indicator. Please correct me if I am wrong.

[Sparrow 10]

IMO either up to the NYSE to provide a new clear tick indicator, your data provider, or given enough bandwith, computer power, some good ideas and the right software you can pretty much do it yourself. Also depends on how many symbols your data provider allows you to view simultaniously.

 

MetaServer has got a trial period btw and i am in no way affiliated with the company which sells it nor getting any money from them(unfortunately).

Maybe there's some other software which can do it, or it can be done inside TS.

 

If you think it's worth the effort, give it a shot.

[DaveDM 10]

The tick indicator ($TICK) is a very popular market internal however, I believe its efficacy is dropping as evidenced by increasingly frequent divergences. It is my understanding that the TICK is constructed with tick data from the entire NYSE listed equities. Is there any way to filter the TICK down just to the 500 stocks that constitute the S & P 500 like the TIKI, which only reflects the DOW 30?

Neoticker has attempted something similar with their TICK16 indicator.

Sparrow,

 

I believe Blu-Ray posted a Volume_Divergence indicator that measures upticks vs. downticks and can be applied to the specific issue your trading. This would ideally be much more accurate since you can see the data for what you are specifically trading as opposed to the entire "market summary". Hope this is what your looking for.

 

If it's not, then you could take the basis of what he did with the indicator and if you could code all the symbols within the code and measure all the upticks for each and all the downticks for each (that's ALOT of code) and average them out, I think it could be do-able. I'm just not sure if you could have that many datastreams for 1 indicator or if it's possible within the code. You could try upticks of Data1, upticks of Data2 etc. and have them all on the same chart (the different ticker symbols) but hidden. I don't remember how many Datastreams TradeStation supports. Hope that makes sense and hope it's helpful.

 

DaveDM