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Market Internals Vs Price Action, what can be seen from them?
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Market Internals Vs Price Action, what can be seen from them?

  #11 (permalink)
Elite Member
SF Bay Area, CA
 
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As far as the TICK...I don't use it as a leading/lagging indicator or a scalping tool. I use it to measure buying/selling exhaustion. Say I want to get long on a pullback in an uptrend. I'll have a rough idea of where I'd like to see the market pullback to. When price reaches my area of interest I'll wait to see the TICK dip to -500 or lower. Once I get that -500 reading I start looking to buy.

However, like most things trading related, it's not as simple as I stated above. Sometime you get that extreme reading in the TICK, but the market doesn't bottom/top for another 30 minutes or whatever.

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  #12 (permalink)
Elite Member
New Delhi, India
 
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rickey View Post
As far as the TICK...I don't use it as a leading/lagging indicator or a scalping tool. I use it to measure buying/selling exhaustion. Say I want to get long on a pullback in an uptrend. I'll have a rough idea of where I'd like to see the market pullback to. When price reaches my area of interest I'll wait to see the TICK dip to -500 or lower. Once I get that -500 reading I start looking to buy.

However, like most things trading related, it's not as simple as I stated above. Sometime you get that extreme reading in the TICK, but the market doesn't bottom/top for another 30 minutes or whatever.

So @rickey, would it be correct to say that you use it more like a Trade Execution Tool. In other words, the trade has been decided by other factors, but you use TICK to Pin Point / Target your trade entry at the best possible point.

Regards

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  #13 (permalink)
Elite Member
New Delhi, India
 
Futures Experience: Intermediate
Platform: NEOTICKER, NinjaTrader, MarketDelta
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GridKing View Post
It's a loaded question to answer IMO, in trying to keep it simple, I would say that Market Internals can be extremely useful in two ways.... 1) you are always looking for divergence (does the move and direction make sense? ... If you have a breakout above resistance , are key components matching what you are seeing? What sectors are showing strength to support the move? Are financials, Techs, whatever the flavor of the day etc... showing the same or are they being sold into the breakout, what are you seeing to support the move? Where as price action alone is a break above resistance , resistance becomes support or not....) 2. Useful when choosing your entry , exit , let's say you use an RSI on your chart as a comparison, if it's pegged at 100 are you going to jump in and buy? Same goes with $Tick and many others, it may save you a few cents, it may save you much more, it may show you a different picture all together .... these are all just like gauges in your car, the more you have that you know how to read and understand, the more you know what is going on under the hood... but if you say heads up as in predicting or seeing into the future .... waste of time and energy

hope that makes sense and is helpful...

@GridKing

1. Divergences - Here is a chart example of using the market internals for the divergence observation -

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source - Basic Chart Reading – What is Divergence Anyway? | NeoTicker Blog

2. Useful when choosing your entry , exit
Yes, I have also noticed that the short term custom tick "could be made in neoticker easily, I am not aware if other platforms supports that yet" is quite helpful as an execution tool for making the entries and exits better.

And a very special thanks for providing excellent links in your post number 9
You seem to have spent quite some time on Market Internals related topic.

Thanks and Regards

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  #14 (permalink)
Trading for Fun
Boise, Idaho
 
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Is the tick reading based off the NYSE? I follow market internals on Shadow Trader, which is a video show on the ToS platform. The ST uses the symbol $tick which is for the NYSE tick. Are thethere other tick symbols? I trade the ES.

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  #15 (permalink)
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shots fired View Post
Is the tick reading based off the NYSE? I follow market internals on Shadow Trader, which is a video show on the ToS platform. The ST uses the symbol $tick which is for the NYSE tick. Are thethere other tick symbols? I trade the ES.

@shots fired Yes, there are many different symbols available which do the same calculations as tick, but they are based on different symbol lists. Just to get an ideas about more such symbols, please checkout the list provided by IQFEED - Calculated Stats & Indicators
https://futures.io/traders-hideout/26571-breadth-indicators-analysis-3.html#post313848

Moreover you can create your own tick symbols in neoticker easily.

Thanks and regards

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