Quote from fseitun:
I use Tradestation and today's Hi/Lo data are: 1240 / -1131
Funny, three of us have posted their daily Hi-Lo numbers and they are all different...LMAO!
Bigsnack, I agree with the way you use the $tick. I think it's really good to stay away from trading against the trend and getting ready to jump on a new trend that has just started. Not to mention the very few but profitable opportunities you get on trend days when markets correct a bit before resuming the trend again.
Question: what kind of chart do you use for the $tick? And timeframe? I noticed that a 1min line chart looks cleaner to determine what kind of trend - if any trend at all - is underway. The zero line is very important too. I know I am stating the obvious
You nailed it, I use a 1 min line chart for the TICK (1 min bar chart with a 1 period SMA, but basically the same thing). For me, +600 and -600 are the important numbers on the TICK. I'm not sure if those would hold up on another provider. Actually, if someone doesn't mind, could someone put up a chart of today's TICK on a 1 min chart? I'd be curious to see how the values lined up on the areas that I deem important, to see if it would be possible to use another feed and still see the same things. I marked the three trades I saw today on my TICK chart. Two of them I took, and one I noted but did not trade (all were mentioned in the journal in real time).
