[Soultrader]

Just a remake of the original understanding the TICK video using the newer a Camtasia version.

Sample uses a 3 minute line on close and candlestick TICK chart. Taking TICK fades when both the line on close and candlestick line up is a higher probability setup than just using the line on close TICK chart.

CLICK HERE TO VIDEO

Charts created by tradestation

[notouch]

Excellent video Soultrader. Do you think you could get the same results by ignoring the line on close and just focussing on candlesticks? It seems to me that a tick hook is represented in a candlestick chart as a red candle followed by a green candle. You could use traditional candlestick analysis to get better signals e.g. a series of red candles followed by a bullish engulfing candle would be the same as a tick hook but easier to spot and maybe a more powerful indicator. A series of red candles followed by a hammer would have the same interpretation. I've always seen the TICK as just for scalpers but after seeing this video I may look at it again on higher time frames because it may be useful for timing entries on longer term positions. Thanks.

[Soultrader]

Interesting point notouch. In terms of TICK fades, candlestick TICK charts may work better. The line on close chart I personally need because of the visual aspect of it. But if you are able to identify a hook on the candlestick chart this should work as well. I do enjoy the combination of a TICK hook and a TICK fade on the candlestick chart. Seems like a double confirmation technique to me.

Perhaps you can try a combination of bearish engulfing and a TICK hook on a line on close. Obviously the amount of signals you will get will decrease. I think the most important thing with TICK strategies is that it should be used in combination with price and not as a stand alone entry/exit method.

[dalby]

this is one reason NOT to use tradestation for the TICK charting (i use TS, quotetracker, and investor RT)

TS does not offer a line chart, only a line on close chart. thus, you cannot see the exact values for ticks.

much better (imo) to chart ticks with a line chart vs. a lineonclose chart, because you get the exact readings (like you would with a a OHLC chart) but can also see the exact movement up and down

[Blu-Ray]

Originally Posted by dalby »

this is one reason NOT to use tradestation for the TICK charting (i use TS, quotetracker, and investor RT)

TS does not offer a line chart, only a line on close chart. thus, you cannot see the exact values for ticks.

much better (imo) to chart ticks with a line chart vs. a lineonclose chart, because you get the exact readings (like you would with a a OHLC chart) but can also see the exact movement up and down

dalby

Just curious, so what is your line price based on? Could you post a chart?

Cheers

Blu-Ray

[marti]

great video, thank you

[dalby]

my "line price"?

i'm not sure what u mean

TS does not offer (as far as i know) a LINE chart

it only offers line on Close.

a line chart lets you see the exact tick readings, but in line format.

Can you post an example so we can see what you are trying to describe, dalby?

I'm having issues visualizing the difference, since you can plot a 1 tick chart in TS to see the tick by tick price action. Try it.