The TIKI is just like the TICK indicator on the NYSE but only measures the Dow 30 stocks. Extreme readings (26-30) are indicative of buy/sell programs hitting the market. A reading of 30 indicates all 30 Dow stocks are on an uptick. The indicator flags all readings of 26, 28, and 30 (+/-) with blue, yellow, and magenta triangles respectively. Read more on the TIKI and its use in John Carter’s Mastering the Trade.
TIKI Indicator
# TIKI
# (c) 2009 http://www.thinkscripter.com
# thinkscripter@gmail.com
# Last Update 25 Jan 2009
declare lower;
def highExtreme = 26;
def LowExtreme = -26;
input emaPeriod = 10;
plot h = high("$TIKI");
h.setPaintingStrategy(paintingStrategy.HISTOGRAM);
h.setDefaultColor(color.green);
plot l = low("$TIKI");
l.setDefaultColor(color.red);
l.setPaintingStrategy(paintingStrategy.HISTOGRAM);
plot zero = 0;
zero.setDefaultColor(color.white);
plot extH=highExtreme;
extH.setDefaultColor(color.red);
plot extL=LowExtreme;
extL.setDefaultColor(color.green);
plot c = close("$TIKI");
c.setStyle(curve.POINTS);
c.setDefaultColor(color.white);
plot ave = expAverage((h+l+c)/3,emaPeriod);
ave.setDefaultColor(color.white);
ave.setLineWeight(2);
plot extremeH = if(h>=highExtreme, h, double.nan);
def extremeHColor = if(h==30, 0,if(h>=28,8, 1));
extremeH.assignValueColor(getColor(extremeHColor));;
extremeH.setStyle(curve.POINTS);
extremeH.setpaintingStrategy(paintingStrategy.LINE_VS_TRIANGLES);
plot extremeL = if(l<=lowExtreme, l, double.nan);
def extremeLColor = if(l==-30, 0,if(l<=-28,8, 1));
extremeL.assignValueColor(getColor(extremeLColor));;
extremeL.setStyle(curve.POINTS);
extremeL.setpaintingStrategy(paintingStrategy.LINE_VS_TRIANGLES);
