If you had to choose one indicator to daytrade with...would it be the TRIN or TICK and why?...very seriously interested...thanks!!!
Nothing useful, IMO... so, I'd say NO. (Maybe, for a swing trader... if looking at the 10 or 20 day MA on closing price...as overbought/oversold indicator...otherwise, not.)
so, you bascially use the TICK + or - 1,000 to reverse buy or sell...correct?...or how else do you use it?
Tick for refining entries/exits. Trin is useless, trin screaming-extreme alerts if you must. Traders look at too many things, too much of the wrong stimulation. Go to the source.
how do you determine if an "extreme" tick reading of - or + 1,000 is going to be a "reversal" or keep trending the same direction????
That's the problem with mainstream use of the tick. You don't just randomly fade a +or-1000 tick. You use it as confirmation. In an uptrend, you look for the tick to pull back to zero and bounce. The higher the tick readings in the trend, the stronger the trend. I also look for reversals. If in a downtrend and the tick has been hanging below the zero line all day, then I start seeing 1000+ ticks, I will look to get long. This is a signal the programs have reversed.