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On Sierra Chart, it's in the symbols list under "Market Stats" and SC provides this for free. There are various ones .. I use the S&P TICK, and occasionally NYSE TICK for very broad market. I would suggest doing a search for 'Brett Steenbarger TICK' to find many useful resources that Brett has written about regarding TICK. While I don't have this for the Asian markets, during the US session it is a vital part of my trading.
I also use the Summation study to calculate a cumulative TICK, which I plot on my structure chart (the blue/red at the bottom, alongside the white cumulative delta):
@Silvester17 do you use market internals at all? I have been doing a lot of reading and youtubing based on josh's suggestions. I might put a post together tomorrow showing where Im at but just wondering how 'broad' your view of the market is.
- you take 10 different platforms and you probably get 10 different results
- different data feeds have different update intervals
- and most importantly, imho derivatives are the leading force. especially in today's market. with other words, market internals are lagging (and this comes from a "stock" guy who used to blame all derivatives for undesired moves
some people find value using them. that's fine, but I like to concentrate on other things.
I was thinking more intraday signals such as cumulative tick and SP advance decline? I am not concerned how much they lag, what is important is the picture of what the broader market is doing. Attached is what I am currently looking at and trying to get a feel for,not for signals. Context. The bands in the screenshot are linear regression lines - makes it easy to see where reversals are likely to occur...likely.
Today I only took longs (subsequently disapointed I didnt hold for more) and my bias was primarily supported by the view on SP advance decline. Tick bounces back and forth but what I find interesting is the comparison between the -200 and +200 extremes. When it hits into the lower band, the market barely moves but excursions into the upper band and the market bounces up.
Do you mind explaining how derivatives are the leading force? I had no idea (no real surprise there).
if those internals are helping you, I don't see a single reason not to use them. it's your money, your responsibility. and certainly don't listen to some stranger. it's perfectly fine to research some ideas, but in the end you have to decide. either way I wish you the best of luck.
if I see that correctly, you're using the s&p 500 tick. wouldn't it make more sense if you want to get a better feeling for the "broader market" to use the nyse tick?
as far as derivatives, I believe in situations like now, big players are rather hedging (derivatives) than liquidating their portfolios. at least to a bigger extent. also if you believe a significant move is going to happen, what instrument would you use to take advantage? if you knew ibm will be taken over next week at $200. would you buy stocks or options? how about you believe aapl will report some really bad earnings. would you short the stock or buy put options? the same principles apply to an index.
of course you also have the whole index arbitrage program trading stuff. but that's a different story.
on the very right side is a volume ladder for the entire session. I added a second data series (daily bars) and applied the GomOrderFlowPro indicator to that data series:
