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Allan,
Here's the URL for a '96 Futures Mag. article on Mark D. Cook's cumulative
tick indicator:
http://www.futuresmag.com/library/june96/traderprofile.html
If you can't 'bring up' the page directly, I found it by clicking the
"search our site" button on the futuresmag.com website, using "cook
cumulative tick" as search criteria- click the "traderprofile" link
. . . I'd not heard of Cook's indicator prior to your post, which piqued my
curiosity. . . I use various 'tick studies' as the foundation for all my
trading. The Futures' article doesn't disclose how Cook tabulates his 'plus'
ticks and 'minus' ticks, but a formula I use in TS is:
Plot1(cum(upticks - downticks),"Plot1");
. . . this formula plots in any tick-interval/time-frame 'up to' Daily [for
daily, set "minutes" at or above the daily trading period for the
contract/stock to be charted]
Using the resulting tick-line as a proxy for "traders" (i.e. trading
activity), I primarily trade so-called 'Hidden Divergences' between the
trade-line and Price-line (and/or a "Price:Time" line I also chart).
[several past TASC articles describe this pattern - my hypothesis is that
the H.D.'s illustrated in TASC (comparing Price and various price-based
derivatives) mimic the "real" market dynamic, which I think of as a
'trader:price relationship']. I've also found it effective to smooth the
'raw' indicator . . . my personal preference is a Slow K stochastic.
good trading,
steve p
"It is vain to do with more, what can be done with less." William of Occam,
AD 1300-1349.
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