Can anyone give detailed answers on when to enter/exit trades using TickStrike? I’ve watched the videos and read the posts here, but there are limited SPECIFIC examples.
When the TS boxes light up in one color with lots of audio sound, that’s a sign that the markets have strong movement in one direction. When those same boxes all reverse to a different color, that’s a sign of reversal. How do we interpret the signals when the boxes are going up and down within moments of each other?
With the Sensitivity set to the default of 6, what number should we see before considering getting into a trade and later getting out of a trade?
Is there a practical benefit to setting the Sensitivity to 11 and above? I know it means Low Sensitivity, but I’m asking is there a benefit?
Do the Tick, TickDJ, and TickQ play a part in determining when to enter a Future trade?
When matching the Futures with their corresponding Stocks, Intervals, and ETF’s/ETN’s, when is it best to enter/exit a trade? Obviously, it’s when they’re all in unison, but what if they are not all in unison?
First it must be said that Tickstrike is NOT an entry system. You need to have other factors aligning before taking a trade. This depends on what type of trader you are.
I find it most useful for short term momentum scalp type trades. I like to see a trend begin with perhaps a level 3 then the signal increases to level 5. If the trend looks good and there is increasing stock activity and supportive Tick activity I will enter. I then want the trend to continue and each pulse of activity to increase, so 7 then 9 etc. This best happens when other futures are also in alignment ie NQ, ES, FDAX, FESX showing correlation across US and EU markets.
As far as sensitivity 11 and above. If you have a strong trend it must eventually end. I have found several cases where the levels are at 13,14 of 15 but the index is barely moving or flattened. This is absorption or volume climax and is a pretty good signal for a reversal.
I do not use the Ticks as I already have a fast chart which shows this for NQ and RTY
If there are conflicting signals I would leave it alone. This includes some green some orange, and also quick reversals indicates this is not a worthwhile trend.
Here is a screenshot of todays opening 30 minutes. I use Nasdaq and RTY tick overlaid to show the market is in synchrony. Trend change is clearly signaled by the divergences between Price and Tick.
It looks like a nice setup. Which platform is that? I would like to set up something similar. Thanks.
Thanks for responding to most of my questions.
You mentioned watching signal levels go from 3 to 5, and, if everything else matches, you enter.
However, you won’t see those levels unless your sensitivity is 3 or above. So, what sensitivity level are you actually using and why?
What platform is this? (You said you use this instead of the TickStrike “TICK” listings.)
Would like to get a variety of thoughts from others responding to my questions.
Anthony and wharfdog this is Sierra Chart, probably the best value charting package around. Costs $26 per month for the basic package which includes the market stats like ticks and adv/decl etc. It is also rock solid but some say it takes a little getting used to.
So I have my sensitivity levels all set to 3. So I see all readings of 3 or higher and filter out very weak signals of 1 or 2. If you use the default of level 6 you miss anything lower but that may be what you want and only concentrate on the stronger levels. You need to experiment a bit with different levels.