|
PureBytes Links
Trading Reference Links
|
Bob Bishop and Lionel Issen:
Sorry for the delay in responding.
As to TSV based on EOD data or tick data, I was under the impression from my
discussion with Don Worden that the TSV was an indicator proprietary to TC2000
and that it was part of the daily download. He did not comment that it was an
indicator that could be used independent of their data source using EOD data.
OTOH, I have never used TC2000 so I'm in no position to judge. Frankly, I'd
like a clarification.
Except for the above comments, I know of no other source for tick volume data
per se. I suppose someone using a real time data feed could build such a
collection during the course of the day. My guess is it would take a huge
amount of storage if you track several hundred stocks at a time.
Accuracy of tick volume versus OBV? I do not know of any studies. But
intuitively and from many days of watching the tape years ago, tick volume
should be a better indicator. I can recall one incident years ago watching
Texas Gulf Sulfur trade when they made the silver strike in Timmons, Ont. The
tape moved so fast that it was like a movie. As the volume dried up at a given
price you could see the price direction change on a dime. And you knew it
would go in the opposite direction until the supply or demand dried up for the
next reversal. At the time, Dan Tully, who later became president and chairman
of Merrill Lynch was a young broker in their Stamford, CT office where I
traded. FWIW.
Jim Barone
|