I have my own trading plan. I use: - Fibs - Candle signals - CCI - (trying to see if I can incorporate $TICK)
A scalp is defined here as a trade lasting 10 minutes plus or minus I don't use ticks to enter. I use them to get out...sometimes. if the scalp trade has not quite reached its objective, but you see the ticks have hit the extreme and bouncing back against you... get out at the market. You can turn the loser into a break even or better. p.s. the thing the guru forgot about is that Ticks aint what they used to be. There are many reasons that Ticks (and Trin) are no longer as absolute an indicator as the olden days.
adding more indicators like advances / declines to tick can help sometimes .... also looking at the volume of the ETF's at big numbers sometimes too helps
SethArb, When you say adding more indicators do you mean looking for confirming divergence in additional indicators like advances / declines?
I use ticks to trade the e-mini. One way I use it is after the market makes a move, watch how the market and the ticks move together. For instance if the market pulls back about a third of its intitial move, see where tick holds. Alot of time it will come back to the "0" line. So if I see ticks holding around "0" and the market takes off again, i go long. Like anything its not perfect.