V. 12:14 (609-613): SIDEBAR: TRADING WITH TlCBARS
Product Description
TRADING WITH TlCBARS
Trading with TicBars is a chance to try picking intraday market turning points with something other than bar charts, even tick volume bars. It's also solid for confirming trending activity. You'll be able to see the initial surge of activity in the opening, then judge the falloff in volume, then watch an intraday trend (or directionless movement) get under way, especially in an active market.
As prices move directionally, look for heavy tick volume at the leading edge of pricing, indicating more people willing to contest the leading price. You can immediately judge whether this is true support or resistance by the number of ticks (compared with the number usually in a bar) at the leading price, whereas with a bar display, you just see the tick mark flicking back and forth, leaving behind a mute bar.
Before inspecting the charts here, keep in mind that a typical TicBar will have most of its ticks in the center in the usual normal distribution. What you're looking for is an abnormal column of numbers, one with a lot of ticks at the top or bottom. Even distributions indicate directionless or trending activity, not reversals.
Trading with TicBars is a chance to try picking intraday market turning points with something other than bar charts, even tick volume bars. It's also solid for confirming trending activity. You'll be able to see the initial surge of activity in the opening, then judge the falloff in volume, then watch an intraday trend (or directionless movement) get under way, especially in an active market.
As prices move directionally, look for heavy tick volume at the leading edge of pricing, indicating more people willing to contest the leading price. You can immediately judge whether this is true support or resistance by the number of ticks (compared with the number usually in a bar) at the leading price, whereas with a bar display, you just see the tick mark flicking back and forth, leaving behind a mute bar.
Before inspecting the charts here, keep in mind that a typical TicBar will have most of its ticks in the center in the usual normal distribution. What you're looking for is an abnormal column of numbers, one with a lot of ticks at the top or bottom. Even distributions indicate directionless or trending activity, not reversals.
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