This indicator will show the NYSE $TICK index as a lower study in your ThinkorSwim. Great for anyone who wants to easily track the market internal while looking at the indices like SPY.
- When TICK value is above 800 = market is considered overbought
- When TICK value is below -800 = market is considered oversold
# Simple TICK # Assembled by BenTen at UseThinkScript.com declare lower; def value = close("$TICK"); plot tick = value; plot ob1 = 800; plot ob2 = 1000; plot os1 = -800; plot os2 = -1000; tick.SetPaintingStrategy(PaintingStrategy.HISTOGRAM); ob1.assignvaluecolor(color.light_red); ob2.assignValueColor(color.red); os1.assignvaluecolor(color.light_green); os2.assignValueColor(color.green);