Simple way of keeping on the right side using Tick

[stoploss please]

Simple posting of the Tick indicator and how it can help you stay on the right side of a move.

I have used breaks of tick trend line to help me time my moves.

What I have discovered is more rewarding is how the tick reacts after a trend line break.

What I look for is a bounce or failed break ema break as this signals that sentiment has changed and we are now moving in a new direction.

For the ease of reading, the attached chart of the tick just shows the tick average and entry points.

 

[Pat494]

Hi,
I am not familiar with the tick index, so please excuse the obvious question. Which is how closely does the Dow follow suit ? The enclosed "thumbnail" looks very impressive. Nice uncomplicated highs and lows or was it just a good day ?

 

[hampy]

Pat, excuse me if I misunderstand, but it sounds like you don't know what 'tick' that stoploss refers to actually is. It is not really an index that you would normally follow made up of the values of the constituent stocks, it is the NYSE up/down ratio. ie for any given tick of the market it is the value if the number of shares rising minus the number of shares falling on the New York Stock Exchange. Some traders refer to it as $tick, whereas Qcharts calls it index:tick.
There is comprehensive info on it's use in the T2W archives. In the indicies section take a look at Trading the ES from about Sep last year to June this year.
There's lots of pages to look at, have fun!

hampy

 

[Pat494]

Hi Hampy,
Thanks or the tip - a bit more knowledge to put into the pot!