Tick Indicator Thinkorswim Setup and Benefits

To set up a tick indicator on Thinkorswim, you'll need to create a custom indicator using the platform's built-in tools, specifically the "Study" feature.

Thinkorswim's Study feature allows you to create custom indicators using various formulas and inputs, including tick data.

The first step is to navigate to the "Studies" tab and click on "New Study", then select "Custom" as the study type.

Tick indicators can be used to analyze and visualize tick data, providing insights into market activity and trends.

The Cumulative TICK indicator is a useful tool for day traders, particularly those who focus on the indices. It helps keep track of Market Internals, which can be challenging to manage.

This indicator is specifically designed for the indices, making it a valuable resource for traders who focus on these markets. It's also a great example of how thinkScript can be used to create powerful indicators.

The Cumulative TICK indicator uses less than 12 lines of code, making it a great starting point for beginners who want to learn thinkScript. Most of the tutorial focuses on learning how to read and use ThinkOrSwim documentation.

Here are some key features of the Cumulative TICK indicator:

The Cumulative TICK Pro indicator is an extended version of the Cumulative TICK indicator, which includes additional features and analysis. It uses Python and Jupyter Notebook to analyze the TICK data set and incorporates the results into the indicator file.

The Tick Indicator on Thinkorswim is a powerful tool that helps traders make informed decisions by providing real-time data on market activity.

Thinkorswim's Tick Indicator displays the number of ticks, or trades, that occur within a specific time frame, allowing traders to gauge market momentum and activity.

A single tick can represent a trade of 1 share, and the indicator can show the total number of ticks for a particular stock or ETF.

The Tick Indicator is particularly useful for traders who use the Range Trading strategy, as it helps them identify areas of support and resistance.

Thinkorswim's platform allows traders to customize the Tick Indicator to suit their needs, including setting the time frame and choosing which stocks or ETFs to display.

The Cumulative Tick Indicator has been updated with new features. The indicator is now available for immediate access to anyone who has downloaded it before.

This update includes new code that provides a good product and good value, according to the developer. The developer values user feedback and encourages users to suggest additional features for the next version.

The Cumulative Tick Indicator is a result of the developer's programming efforts, with improvements made in just a few days.

The Tick Indicator Bundle is a game-changer for traders. It's the most comprehensive one available.

This bundle helps simplify the raw TICK indicator, making it more human-friendly and meaningful. By breaking down the data into smaller, more manageable pieces, you can get a clearer understanding of market sentiment.

You can use the bundle to find extreme TICK readings that can be faded. This is a valuable tool for traders who want to identify potential reversals in the market.

With the Cumulative and Adjusted Cumulative Ticks, you can tune the indicator to work as an oscillator. This shows you when the market is overbought or oversold, giving you a better sense of when to enter or exit trades.

Here are some key features of the Tick Indicator Bundle:

The Cumulative ThinkScript code is a game-changer for traders who want to track the TICK indicator over time. It's a complex process, but don't worry, I'll break it down for you.

To start, we need to introduce the TICK value, which can be calculated using the hlc3 function that takes the high, low, and close prices and divides them by 3. This gives us the value for just the TICK on the current bar.

We also need to create a new variable called Cumulative TICK Value, which will keep a running total of the TICK count. This variable will reset to zero whenever we have a new day, thanks to the SecondsTillTime function.

The new code has been posted on the downloads page, and anyone who has downloaded it before will have immediate access to the new code and features.

The Tick Extremes indicator is a popular tool among traders that helps you fade high and low TICK extremes. It's a great way to identify potential reversals in the market.

This indicator is highly customizable, allowing you to show or hide the zero line, average line, and extreme levels. You can choose what levels to use based on whether you're on a long-term chart or a short-term chart.

You can set the average type and length to suit your trading style. I've found that having this level of control really helps to refine your trading strategy.

The colors and graph types are also fully customizable, giving you the flexibility to tailor the indicator to your preferences. This is a big plus for traders who like to have a lot of control over their charts.

The Comparative Bonus Indicator is a game-changer for traders who want to compare the behavior of different markets in real-time. It allows you to look at multiple cumulative TICKs at the same time and compare how they're behaving relative to each other.

You can compare the NYSE TICK to the Nasdaq TICK, S&P 500 TICK, Dow TICK, and many others. The automatic comparison line lights up green when all the TICKs are up-ticking, and red when all the TICKs are down-ticking.

The complete list of TICK symbols is extensive and includes various market indices, such as the DJIA, Nasdaq 100, and Russell 2000.

Here is the list of TICK symbols for easy reference:

This indicator is a valuable tool for traders who want to gain a deeper understanding of market dynamics and make more informed trading decisions.

To implement the tick indicator on Thinkorswim, you'll need to add it to your chart as a custom indicator. This can be done by clicking on the "Indicators" tab and selecting "Manage" from the dropdown menu.

The tick indicator is based on the idea that a stock's price moves in a series of small, random increments, and that these increments can be used to predict future price movements. The indicator calculates the average price movement over a given period of time.

To set up the tick indicator, you'll need to specify the length of the period over which you want to calculate the average price movement. This is done by entering a value in the "Period" field.

The tick indicator can be used in conjunction with other technical indicators to help identify potential buy and sell signals. For example, you can use the tick indicator in combination with the moving average crossover strategy to generate buy and sell signals.

By using the tick indicator on Thinkorswim, you can gain a deeper understanding of the price movements of the stocks you're interested in and make more informed investment decisions.