The difference is that: TICK is the net tick change for NYSE stocks TICKI is the net tick change for DOW 30 stocks As for articles on using this for trading, I personally don't have any.
Here's a PDF file from Stocks & Commodities magazine on the Tick, Tiki, and Trin ($2.95 to buy full article). http://store.traders.com/v13641howtou.html
I read it and tore it out after I was thru with the magazine and reread it a couple of times a year. Well worth the 3 bucks. Bsulli
I have been looking at and using tiki for about 3 years and I have noticed over that time how its application has changed as far as using to time entries and exits for s&p futures... Basically, the concept is that a +/-22 reading on tiki indicates buy/sell programs are hitting the market. This could also be confirmed with the PREM indicator as there are set premiums/discounts that trigger these programs. In the past, back around 1999-2000, you would typically have 1 tiki or 2 tiki's in a row and price would quickly come off of that level for a few minutes. In a trending market, you might get a number of tiki's(with trend) without any retracement or a number of tiki's (against trend) that would be quickly absorbed by players looking to enter on any counter-trend move...In a trading range environment, tiki's would typically trigger into a resistance/support area and quickly come off with a decent scalping opportunity... Nowadays, I have been noticing a proliferation of tiki "clusters", where you will have one tiki, then another, and another, and another...sometimes up to 6-7 in a row on a 5 minute tiki chart. Since the markets have been pretty much "one way" in the past two months, it just appears that these tiki programs come into the market and move it to an extreme with little retracement and that all of the momentum comes in with force at one time for about 30 minutes and then prices stall... I don't want to get too much into this, but just to give some of my observations about how this indicator has worked in recent years..
Its been a while since have done any posting on EliteTrader, but I was sittng here tonite & checking out whats going on & I seen a Thread for TICK & TIKI, The Tick Happens to be one of my favorite indicators & I use it daily, I had an issue in active trader for this indicator & I think will help you clear up some of the mystery of using it. http://www.activetradermag.com/terry.htm this is the link. The TIKI to me is to fast & short term & I find no use for my own trading with it & what I see with the TICK is good enough for me for my market timing. I attached a chart of today to show you how the TICK/SP could be used togther for timing.......... Chris
Nice article Chris. Still doing the chat? I wanted to spend a month or two with you but when I sent in my app around Jan. the room was closed temporarily. You said you would email when things were back on track but I never got one. I spent three months with Linda. Learned a lot. Would like to watch you too.
Thanks easy rider, glad you liked the article and yes we are doing our chatroom service still, we did not allow the public access to it because of a relationship with a broker/dealer, since then we broke from them & kept a limited membership as we are building a website & will cater to the generl public & not just one company as we had been, the new site will be launched to the general public mid summer sometime, also you could go to my site & get a trial if you like to the chatroom, no problem, I have been posting charts to the website for free since April 5 & getting some good feedback from it, its been a template of what I plan to put on our new site, since there is a upload feature here I am considering posting charts here for the members to use for setups on a seperate thread, I think it will be a good thing for many people to learn from. Chris