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 de código aberto
No verdadeiro espirito do TradingView, o autor desse script o publicou como código aberto, para que os traders possam entendê-lo e verificá-lo. Parabéns ao autor Você pode usá-lo gratuitamente, mas a reutilização desse código em publicações e regida pelas Regras da Casa.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Script de código aberto
No verdadeiro espirito do TradingView, o autor desse script o publicou como código aberto, para que os traders possam entendê-lo e verificá-lo. Parabéns ao autor Você pode usá-lo gratuitamente, mas a reutilização desse código em publicações e regida pelas Regras da Casa.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.