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I was able to find original source for code posted by @Silvester17 for Cumulative Tick v.2. I do not think that has the adjusted tick line...or at least this fool cant find it yet.
declare lower;
def upper = no;
input hidecumtick = yes;
input symbol = "$TICK";
input period = 20;
input smooth = 5;
input lookback = 4;
input filter = 300;
def p = period;
def i = barNumber();
def na = double.nan;
#input usetrend = {"No", default "Yes"};
def usetrend = yes;
rec htick = if IsNaN(high(symbol)) then htick[1] else high("$TICK") ;
rec ltick = if IsNaN(low(symbol)) then ltick[1] else low("$TICK");
rec avgh = if i == 1 then htick else Max(filter, avgh[1] + 2 / (p + 1) * (htick - avgh[1]));
rec avgl = if i == 1 then ltick else Min(-filter, avgl[1] + 2 / (p + 1) * (ltick - avgl[1]));
def hi = high("$TICK");
def lo = low("$TICK");
plot Last = if IsNaN(close(symbol)[-1]) then close(symbol) else double.nan;
plot amean = if IsNaN(close) then na else (avgh + avgl) / 2;
def trendmean = if usetrend AND (htick > avgh OR ltick < avgl) then amean else 0;
def bull = if htick > avgh then htick - avgh else 0;
def bear = if ltick < avgl then ltick - avgl else 0;
rec ctick = if i == 1 then 0 else if IsNaN(htick) OR IsNaN(ltick) then ctick[1] else ctick[1] + bull + bear + trendmean;
def ctickavg = ExpAverage(ctick, smooth);
plot cumtick = if IsNaN(close) then na else ctickavg;
plot nettick = if IsNaN(close) then na else ctick;
plot zero = 0;
cumtick.AssignValueColor(if cumtick > cumtick[lookback] then color.green else color.red);
AssignPriceColor(if !upper then color.current else if cumtick > cumtick[lookback] AND ltick < avgl then color.green else if cumtick > cumtick[lookback] then color.gray else if cumtick < cumtick[lookback] AND htick > avgh then color.red else color.gray);
cumtick.SetLineWeight(2);
def hcumtick=if !hidecumtick then cumtick else na;
def hzero=if !hidecumtick then zero else na;
AddCloud(hcumtick, hzero );
plot buy = if cumtick > cumtick[lookback] AND ltick < avgl then low - tickSize() else if cumtick > cumtick[lookback] then na else if cumtick < cumtick[lookback] AND htick > avgh then na else na;
plot sell = if cumtick > cumtick[lookback] AND ltick < avgl then na else if cumtick > cumtick[lookback] then na else if cumtick < cumtick[lookback] AND htick > avgh then high + tickSize() else na;
plot ahi = if IsNaN(close) then na else avgh;
plot alo = if IsNaN(close) then na else avgl;
plot hib = if hi < 0 then hi else na;
plot lob = if lo > 0 then lo else na;
plot phi = hi;
plot plo = lo;
Last.SetDefaultColor(Color.white);
Last.SetPaintingStrategy(paintingStrategy.DASHES);
phi.SetPaintingStrategy(paintingStrategy.HISTOGRAM);
phi.AssignValueColor(if hi > ahi then color.dark_GREEN else color.gray);
phi.SetLineWeight(5);
plo.SetPaintingStrategy(paintingStrategy.HISTOGRAM);
plo.AssignValueColor(if lo < alo then color.dark_red else color.gray);
plo.SetLineWeight(5);
zero.SetDefaultColor(color.gray);
zero.SetLineWeight(1);
amean.AssignValueColor(if cumtick > cumtick[lookback] then color.green else color.red);
amean.SetLineWeight(5);
amean.SetStyle(curve.POINTS);
ahi.SetDefaultColor(color.green);
ahi.SetStyle(curve.SHORT_DASH);
alo.SetDefaultColor(color.red);
alo.SetStyle(curve.SHORT_DASH);
#Hiding depending on if upper or lower
phi.setHiding(upper);
plo.setHiding(upper);
zero.setHiding(upper);
last.setHiding(upper);
hib.setHiding(upper);
lob.setHiding(upper);
this seems very old by the Dr. I have seen numerous articles by him....some where he also weights tick....
i feel tick by itself has no meaning...cumulative or not.....if really looking at internals.....i hope you can find some better thoughts from others.
here is my cum tick..i wont go into its construction...other than its one for current...one a little back adjusted....since its locked..but i care 2 hoots what it does....for my entry exits....unless some other stuff happens....its good to have tick on my side....but can careless is all i mean
I'm not trying to debate the usefulness. What I am trying to do is discover if I can/am looking at the adjusted cumulative tick line that is referenced in the article.
That might be the third item down in the picture you added, but without ant titles or products visible, it is very hard to determine.
I extensively use Market Internals. It plays a big part in deriving Market Context, along with correlated instruments etc. Divergence in internals, Relative range to prior days , cumulative TICK for the day, over a period of n days etc all tie in. For e.g today Internals opened weaker compared to yesterday, we got a weak open , BUT when low was made after open, divergence in Spreads and YM was notable. Tie this to the over all price action and where volume showed up from Wednesday, it was worth risking few points to go long at the lows.
Regading cumulative TICK, and Cumulative adjusted TICK, I mostly use what @paps showed. @wldman , as you pointed out, I also use a 1 min chart and avg(H+L+C) . Also a running average over a x period is used.
Same what @rahulgopi mentioned cum tick n adjusted. Just a different way of looking at things. I don't use it always it's at certain times when I enter using some other citeria and like to see confluence
Today Peter Reznicek from ShadowTrader put on this webinar today and it plays once you registrar
He is discussing a Cumulative tick script. Has anyone seen this script or anything similar. I did a search in the group on TICK but did not find anything …
I do believe that internals are useful in trading. especially for a contextual view of the market. but for short term trading, I believe futures are most of the time the leading force. in other words, internals are lagging. of course this is just imho and should be treated like that