for those of you how may be using this, notice that early on it
gave displayed 'stop run' that meant that shorts were covering and
to expect higher prices, it showed up at 2056, and so price run up
to 2062.
now short term there's another buy extreme, white dot, so some
consolidation here is expected - remember to think of it like this:
a tick buy extreme is when buyers get exhausted, so it
creates inflection where price pauses at least, which is occurring
at the moment.
also the gap indicator indicator on the open gave high odds of a
gap fill, which we basically got
anything above 50% means gap fill, so when it said 60% odds for
gap fill that means high odds for gap fill, even though you and I
don't think of 60% as high odds. I think he should just
replace that with text with something straight forward like:
high odds for gap fill, or low odds for gap fill, or medium
odds for gap fill, I relayed that to him
anyway now on the indicator, notice that it keeps displaying
stop run, that means shorts continue to be hosed. And now you
see those red bars, those are capitulation bars, it means shorts
are capitulated and late longs who sold relented and bought.
now if the lows of those bars start to break, it's something
to note, otherwise the action so far has punished bears
no they are different things: the white dots are buy
extremes where there's a large amount of buying either from shorts
covering or longs buying, the stop runs are like a buy the dip
indicator, they tend to occur near a buy extreme, so a small
pullback usually occurs but most of the time you get another push.
he needs to make a 10 min video going through it all
basically
also another thing that displays at
the very top is the emotion index, it doesn't show up until 10 am,
however when it's 100%, means very little chance of a change in
direction or sell off today - trend day basically. Does the same
thing for downtrends as well emotion indxe, when it's 100%, means
basically very low off a sell off intra day, it's some measure of
pressure between buyers and sellers, it means it's all one
sided
someone sent me this question, is the tick tool available on
ThinkorSwim?..Thanks!
my response, no it's not a normal price / volume indicator that
works on its own that would calculate in a chart like TS or
Thinkorswim or any normal charting platform. The author built
a huge database of ES, YM and cash data going back 20 plus years,
the indicators actually communicate with that central database,
which I or no one else would have on their computer, so it's not
one thing, it's a multitude of things communicating with each other
that is then displayed on one chart. It's a propriety thing
that has to be shown in a web link as no one has the data base and
things on their side - also it's built in Multcharts
only,
Tick tools
Posted by matt on 6th of Apr 2015 at 09:51 am
for those of you how may be using this, notice that early on it gave displayed 'stop run' that meant that shorts were covering and to expect higher prices, it showed up at 2056, and so price run up to 2062.
now short term there's another buy extreme, white dot, so some consolidation here is expected - remember to think of it like this: a tick buy extreme is when buyers get exhausted, so it creates inflection where price pauses at least, which is occurring at the moment.
also the gap indicator indicator on the open gave high odds of a gap fill, which we basically got
here's the link again
http://162.213.38.100/mcm/ticksES.htm?1425921433026
Thanks Matt. What's it mean when
Posted by puma on 6th of Apr 2015 at 10:00 am
Thanks Matt.
What's it mean when it says "Top 100% X Top 60% Price"?
puma - it means its one
Posted by matt on 6th of Apr 2015 at 10:09 am
puma - it means its one of the biggest top gaps emotionally and in the top 60% of gaps ranked by points today.
Do those numbers (seen back
Posted by puma on 6th of Apr 2015 at 10:19 am
Do those numbers (seen back at the open) say anything about the probability of a gap fill?
anything above 50% means gap
Posted by matt on 6th of Apr 2015 at 10:30 am
anything above 50% means gap fill, so when it said 60% odds for gap fill that means high odds for gap fill, even though you and I don't think of 60% as high odds. I think he should just replace that with text with something straight forward like: high odds for gap fill, or low odds for gap fill, or medium odds for gap fill, I relayed that to him
anyway now on the indicator, notice that it keeps displaying stop run, that means shorts continue to be hosed. And now you see those red bars, those are capitulation bars, it means shorts are capitulated and late longs who sold relented and bought. now if the lows of those bars start to break, it's something to note, otherwise the action so far has punished bears
Thanks Matt. So when price breaks
Posted by puma on 6th of Apr 2015 at 11:00 am
Thanks Matt.
So when price breaks above the white dots/white dotted lines those are stops runs -- right?
What's the number in red near the highs in price (currently reading 31.00) mean?
no they are different things:
Posted by matt on 6th of Apr 2015 at 11:11 am
no they are different things: the white dots are buy extremes where there's a large amount of buying either from shorts covering or longs buying, the stop runs are like a buy the dip indicator, they tend to occur near a buy extreme, so a small pullback usually occurs but most of the time you get another push.
he needs to make a 10 min video going through it all basically
Yeah, I hope he'll make
Posted by puma on 6th of Apr 2015 at 11:15 am
Yeah, I hope he'll make that video -- it would be really helpful. It seems like it's a useful indicator to have. Thanks
also another thing that displays
Posted by matt on 6th of Apr 2015 at 11:26 am
also another thing that displays at the very top is the emotion index, it doesn't show up until 10 am, however when it's 100%, means very little chance of a change in direction or sell off today - trend day basically. Does the same thing for downtrends as well emotion indxe, when it's 100%, means basically very low off a sell off intra day, it's some measure of pressure between buyers and sellers, it means it's all one sided
Matt: I can't see the
Posted by rain168 on 6th of Apr 2015 at 02:19 pm
Matt:
I can't see the emotion index.
Sue
Emotion Index
Posted by cwallace123 on 6th of Apr 2015 at 03:05 pm
Sue,
In order to see the emotion index, you need to click the link.
http://162.213.38.100/mcm/ticksES.htm?1425921433026
It's in the top right area of the chart. It's entitled, "eMOTION Index".
Chris
someone sent me this question,
Posted by matt on 6th of Apr 2015 at 12:33 pm
someone sent me this question, is the tick tool available on ThinkorSwim?..Thanks!
my response, no it's not a normal price / volume indicator that works on its own that would calculate in a chart like TS or Thinkorswim or any normal charting platform. The author built a huge database of ES, YM and cash data going back 20 plus years, the indicators actually communicate with that central database, which I or no one else would have on their computer, so it's not one thing, it's a multitude of things communicating with each other that is then displayed on one chart. It's a propriety thing that has to be shown in a web link as no one has the data base and things on their side - also it's built in Multcharts only,
Thanks Matt. Any other info
Posted by 2thguy on 6th of Apr 2015 at 10:41 am
Thanks Matt. Any other info regarding tick tool appreciated.
that's based on 20 years
Posted by matt on 6th of Apr 2015 at 10:11 am
that's based on 20 years of gap data from a data base that the indicator references each day
clearly some of that text could be written more clearly, he said he would do that
Tick Tool
Posted by 2thguy on 6th of Apr 2015 at 09:56 am
Hey Matt....
I've been watching the tick tool for the last few days. What are you looking at that indicates the odds of a gap fill?