Tick Sentiment & ExtremesIntroduction
The Tick Sentiment & Extremes indicator provides real-time insights into the upticks and downticks of stocks on the market. Specifically designed for USI:TICK charts, it helps traders identify market sentiment, extreme readings, and bar-closing positions relative to the zero line. This fast-moving indicator updates every few seconds, offering a clean and visually intuitive setup for trend and sentiment analysis.
Purpose of the Indicator
Monitor Upticks vs. Downticks: Track stocks moving higher or lower in real time.
Identify Extremes: Highlight significant positive or negative readings (e.g., ±800 and ±1000).
Visually Track Bar Closures: Use clean markers to identify whether bars close above or below the zero line.
Daily Reset for Clarity: Highs, lows, and EOD (End of Day) boundaries reset at the start of each new trading day.
Key Features
EOD (End of Day) Lines:
Marks the start of each trading day with subtle background highlights for clear visual separation.
Horizontal Lines for Extremes:
Zero Line: Acts as the reference for positive or negative ticks.
800 and 1000 Levels: Extreme positive tick thresholds.
-800 and -1000 Levels: Extreme negative tick thresholds.
Visual Markers for Bar Closures:
Small Blue Dots at +1200: Appear when the bar closes above the zero line (positive sentiment).
Small Red Dots at -1200: Appear when the bar closes below the zero line (negative sentiment).
Minimalist Design:
Uses clean lines, dots, and subtle highlights to keep the chart uncluttered while delivering maximum clarity.
How It Works
Tick Calculation:
The indicator compares the number of stocks on an uptick (current price > last price) vs. downtick (current price < last price).
The tick value updates rapidly, showing live sentiment without regard to the previous day's close.
Bar Closes:
Blue Dot: Bar closes positively above the zero line.
Red Dot: Bar closes negatively below the zero line.
EOD Lines:
The day resets, and a subtle gray background highlights the start of a new trading session.
Displayed Elements
Horizontal Lines:
Zero Line (Gray)
+800 and +1000 Lines (Blue for extremes).
-800 and -1000 Lines (Red for extremes).
Markers:
Small blue dots at +1200 for positive closes.
Small red dots at -1200 for negative closes.
EOD Highlight:
Gray background at the start of each trading day to separate sessions visually.
Use Cases
Identifying Extreme Sentiment:
Tick readings near +1000 or -1000 indicate extreme bullish or bearish activity, suggesting potential reversals or trend continuations.
Daily Sentiment Overview:
Quickly see if the majority of tick bars closed above or below the zero line.
Consistent blue dots suggest bullish sentiment, while red dots indicate bearish activity.
Clean Visual Separation:
EOD highlights ensure clarity when analyzing multiple trading days on the same chart.
Customization
Users can customize the color and style of:
Horizontal lines (0, 800, 1000, -800, -1000).
Positive and negative markers (dots).
Subtle EOD backgrounds can be adjusted for visual preference.
Summary of Benefits
Real-Time Sentiment Analysis: Instantly see upticks vs. downticks.
Visual Extreme Readings: Highlight key levels (800 and 1000).
Clear Trend Indication: Track bar closures relative to the zero line.
Clean Chart Design: Minimalist markers and lines for an uncluttered view.
The TickValues & Distribution indicator is essential for traders analyzing USI:TICK charts. It provides clear, real-time signals and sentiment tracking, helping traders identify trends, reversals, and daily extremes with ease.
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