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Harry's comments regarding the use of the TICK as an indiator is
something that I have been evaluating for many months. David Wright's
Cherry Picker use this indicator, sometimes with great success and other
times, in runaway markets, with disasterous results. So it is certainly
true that the value diminishes greatly with trending markets for the TICK
will stay in the overbought/oversold area for a long period of time.
Maybe using the DMI/ADX to determine if the market is or is not trending
and then utilizing the TICK indicator accordingly would help with the
success ratio.
Anyone else have any experience or thoughts on this matter?
Thanks for your comments,
John
jdfo@xxxxxxxxx
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