OPEN-SOURCE SCRIPT
ADI TICK ExtremeZones 2
This is an updated version of the TICK Extreme Zones Indicator Overlay.
What’s new in v2?
- Simplified panel: Metric | Value (cleaner layout, fast read).
- Optional TRIN row (rule of thumb: <~0.8 bullish, >~1.2 bearish).
John Carter uses TRIN (Arms Index) alongside TICK and ADD as part of his
“market internals” read. A low TRIN (<0.8) confirms strong breadth and upside
momentum when paired with positive TICK/ADD. A high TRIN (>1.2) warns of
heavy downside pressure, especially when TICK/ADD are negative. Around 1.0
is neutral/no strong tilt.
Carter also watches today’s TRIN relative to the prior day’s close:
• Opening below the prior TRIN close (esp. <1.0) = bullish breadth carryover.
• Opening above the prior TRIN close (esp. >1.2) = bearish pressure carryover.
• Reverting toward ~1.0 = balanced/choppy conditions.
Panel layout (columns →, rows ↓)
Metric | TICK | ADD | TRIN* | VOLD*
Value | tick | add | trin* | vold*
*TRIN and VOLD columns are hidden unless enabled (VOLD only shows during the last trading hour)
Zones (same as v1)
+1000 (Dark Blue), +800/+600 (Light Blue) | −1000 (Red), −800/−600 (Yellow)
Quiet-zone coloring on TICK Value: > +200 green, < −200 red, else gray
Notes
- ORB times use US market hours (ET); you can set the ORB length (minutes).
- TRIN feed uses “TRIN.US” by default (adjust if necessary).
- Use the panel as a fast read on internals: TICK extremes, ADD sign/tilt, optional TRIN/VOLD.
- Pair with structure and risk management.
What’s new in v2?
- Simplified panel: Metric | Value (cleaner layout, fast read).
- Optional TRIN row (rule of thumb: <~0.8 bullish, >~1.2 bearish).
John Carter uses TRIN (Arms Index) alongside TICK and ADD as part of his
“market internals” read. A low TRIN (<0.8) confirms strong breadth and upside
momentum when paired with positive TICK/ADD. A high TRIN (>1.2) warns of
heavy downside pressure, especially when TICK/ADD are negative. Around 1.0
is neutral/no strong tilt.
Carter also watches today’s TRIN relative to the prior day’s close:
• Opening below the prior TRIN close (esp. <1.0) = bullish breadth carryover.
• Opening above the prior TRIN close (esp. >1.2) = bearish pressure carryover.
• Reverting toward ~1.0 = balanced/choppy conditions.
- Optional VOLD row (shown only during the last trading hour).
- ORB Window (adjustable): opening-range band with shaded zone + dotted High/Low lines.
- ORB breakout alerts on ORB High/Low (toggleable).
- Table Text Size input to choose tiny/small/normal/large/huge.
- All extras OFF by default; hidden rows render transparent.
- ORB concept nods to John Carter’s approach: he emphasizes the first 30 minutes
- of RTH (opening range) combined with internals like TICK, ADD, TRIN (with prior
- close context), and VOLD to gauge market breadth and conviction before trend setups.
Panel layout (columns →, rows ↓)
Metric | TICK | ADD | TRIN* | VOLD*
Value | tick | add | trin* | vold*
*TRIN and VOLD columns are hidden unless enabled (VOLD only shows during the last trading hour)
Zones (same as v1)
+1000 (Dark Blue), +800/+600 (Light Blue) | −1000 (Red), −800/−600 (Yellow)
Quiet-zone coloring on TICK Value: > +200 green, < −200 red, else gray
Notes
- ORB times use US market hours (ET); you can set the ORB length (minutes).
- TRIN feed uses “TRIN.US” by default (adjust if necessary).
- Use the panel as a fast read on internals: TICK extremes, ADD sign/tilt, optional TRIN/VOLD.
- Pair with structure and risk management.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.