As opposed to just plotting the tick with candlesticks, OHLCs, or lines, the Iceberg Tick paints the space between zero and the highs in green and that same space between zero and the lows in red. This much better illustrates the concept of how much time is being spent in positive or negative territory. Traders who know how to use the TICK know that this is what really matters in terms of sustaining intraday direction, not how high or low the extremes are.
- Can be used on any TICK indicator including Nasdaq or S&P 500 (not just NYSE)
- Paints positive and negative tick action in real time as colored space above and below zero
- Shows at a glance how much time is being spent either positive or negative which is more important than tick values or extremes.
- Colors of outlines and paint are fully customizable
- Includes detailed instructions on how to insert and customize in your thinkorswim platform