I just found a way of checking when the sharks are in town.
Its the result of substracting the dwntick from the uptick. So the result is the number of transactions executed above (>0) the last trade or below (<0) the last execution.
This is a reseverd word from TS and show an snap shot of how many contracts are being exchanged in each trade.
Equals the quotient of the volume of the so-far session divided by the trades so far since the open.
I just plotted them in my screen, next to the price candlestick bar chart, so I really have no a clear idea of what to do with these nice tools.
For example: We are in a 30 minute rally and we also see a strong positive uptick-downtick with some TradeSize-snapshot above the Vol/trades-Average that means we are seeing some big executions following the trend.
In the contrary if the market is bullish and tradeSize strongly > Vol/trades but Uptick-DownTick is constantly negative, then maybe some heavy scalpers are taking profits and we might accompain them to the exit door or wait for a next wave.
Check this out: Oil making a bottom at 68.59 in 7 minutes, tick positively strong and trade getting heavy. paper: buy at 68.87 and sell when the tick gets negative. its 1:16pm [Guate tieme]. Next paragraph says what happened. [i have delayed data].
And the result was…
now that think about the trade should have been from the short side because intraday tends to be mean reverting. But do not forget the initial hipothesys, heavy weights come out in the upper part of the crust.
the vol/trades is weakining as well as the tickpudown.
The putckdowtick is at 13… that’s enough. I think this is meareverting, not follower. Loss of 68.87-68.63= -$240.
Idea = short the oil when the minute upticdowntick is above [donchian channel ..?] and buy back when the indicator gets negative. Same say in the oppossite direction.
What about the risk mngmnt?
thni the mkt is over, bad time, the closing rush was over.