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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: No Mo Mo who wrote (1405)	5/3/2000 2:31:00 PM
From: Zeev Hed	Read Replies (3) \| Respond to of 30051

Each day, before the opening, this measure is set a nil, and then they simply count up ticks and down ticks (and I am not sure what the exact mechanism is and whether they use normalization, but they do not take into account the "size" of the transaction. A neutral market will have equal up ticks and down ticks and thus this measure will be nil. A down market will have a negative tick and an up market a positive tick. Extremes in this measures often signal a turning point. If the tick is turning from one direction to another during a session, prices often will follow that turn. An excellent tool to get whipsawed by. Use with caution. Zeev