How I Treat TICK
Set out TICK - 5 minute candles, no wicks
Set out -200 and +200
Watch for where TICK candles close
If it closes below -200 there is a short bias (but not an enter signal)
If it closes above 200 there is a long bias (but not an enter signal)
Look at NQ. If the TICK alongside the NQ candle has closed below -200, then that NQ candle is Candle 1. Candle 2 must close below the low of Candle 1 for a valid sell order (and you may enter at that close or at the fibonacci below, with your choice of stop loss either at the high of Candle 2 or the fib above).
The opposite is the case for closes above +200 on TICK; bullish bias. Candle 1 is identified when a +200 occurs; and if Candle 2 closes above the high of Candle 1 for a valid buy order (and you enter at the Candle 2 close or at the fibonacci above; with similar choice of stop loss at Candle 2 low or fib below)
Set out -200 and +200
Watch for where TICK candles close
If it closes below -200 there is a short bias (but not an enter signal)
If it closes above 200 there is a long bias (but not an enter signal)
Look at NQ. If the TICK alongside the NQ candle has closed below -200, then that NQ candle is Candle 1. Candle 2 must close below the low of Candle 1 for a valid sell order (and you may enter at that close or at the fibonacci below, with your choice of stop loss either at the high of Candle 2 or the fib above).
The opposite is the case for closes above +200 on TICK; bullish bias. Candle 1 is identified when a +200 occurs; and if Candle 2 closes above the high of Candle 1 for a valid buy order (and you enter at the Candle 2 close or at the fibonacci above; with similar choice of stop loss at Candle 2 low or fib below)
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