# Extreme TICK Counter for ThinkOrSwim (Free Download) Indicator Free Beginner 10 min video 16 lines of code Feb 8, 2022 Our free TICK counter for ThinkOrSwim counts the +1,000 and -1,000 NYSE TICK readings each day and shows both totals in 2 chart labels. ## Overview In this tutorial I build an extreme TICK counter for ThinkOrSwim. The study counts the bars where the NYSE TICK ($TICK) reached +1,000 or -1,000 today, resets both counts to 0 each day, and shows them as 2 labels on your chart. I built it to answer one question: was there more extreme buying pressure or more extreme selling pressure today? It's for traders who already get text alerts for extreme TICK readings and are tired of counting them by hand. The whole study is 7 lines of thinkScript. ## Key Takeaways - The Extreme TICK Counter counts the bars where the NYSE TICK ($TICK) reached +1,000 or higher and the bars where it reached -1,000 or lower, and resets both counts to 0 each day. - It shows the totals in 2 labels on your chart: green for +1,000 readings and red for -1,000 readings. - The study is 7 lines of thinkScript built on GetDay(), the high and low of $TICK, and AddLabel. - In the video, a 1-minute SPY chart showed +1,000 readings 3 times and -1,000 readings 5 times that day, which pointed to more selling pressure than buying pressure. - Each candle counts once per side, so the totals change when you switch from a 1-minute chart to a 5-minute or 15-minute chart. ## What the Extreme TICK Counter Measures The Extreme TICK Counter measures how often the NYSE TICK hit its extremes today: +1,000 and -1,000. The NYSE TICK is the number of NYSE stocks ticking up minus the number ticking down, so a +1,000 reading means 1,000 more stocks were ticking up than down at that moment. A lot of +1,000 readings means the day leaned to the buying side, and a lot of -1,000 readings means more selling pressure. Comparing the 2 counts tells you which side had more extreme pressure. The counts also show how a day changed. Some days start with -1,000 readings back to back, then see +1,000 readings ramp up in the second half. Counting both sides every day gives you an accurate measure of what happened in that session. To track a running total of every TICK reading instead of a count of the extremes, see our [Cumulative TICK indicator tutorial](https://tosindicators.com/indicators/cumulative-tick). This counter reuses its new-day line. ## Why Count Instead of Using Text Alerts The Extreme TICK Counter replaces counting text messages by hand. Before I built it, I tracked extreme readings with text alerts that fire at +1,000 and -1,000. Our tutorial on [how to create text alerts for extreme $TICK readings](https://tosindicators.com/thinkscript/tick-alerts) shows how to set those up. The drawback is the counting. To know which side had more extremes, you go back through the texts and tally them, which is hard to do while the market is moving fast. When I recorded this in 2022, volatility had picked up over the previous 2 or 3 weeks and the texts kept coming. I'd argue those weeks had more +1,000 and -1,000 readings than all of 2021 combined, though that's anecdotal and may be a bit of an exaggeration. Text alerts Extreme TICK Counter What you get A text each time the TICK hits +1,000 or -1,000 2 labels with today's count of each Counting By hand, going back through the texts Done by the study, bar by bar Daily reset None: the texts pile up Both counts go back to 0 each day Best for Hearing about an extreme reading when it happens A quick gauge of which side had more extremes ## What the Labels Show The Extreme TICK Counter shows 2 labels on the chart and draws no lines or arrows. I don't keep it on my charts all the time: I add it whenever I'm curious about the day. Label in the download Color What it counts Pos $TICK: Green Bars today where the high of $TICK was 1,000 or more Neg $TICK: Red Bars today where the low of $TICK was -1,000 or less The study reads $TICK by its symbol, so the counts come from the NYSE TICK whatever symbol is on your chart. The chart's timeframe sets the size of each bar, which matters for the count (more on that below). In the video I first labeled the counts +1000 tick and -1000 tick, then shortened the text to make it cleaner. The labels in the download read Pos $TICK: and Neg $TICK:. The levels, the counters and the daily reset are the same as in the video. ## How to Add the Extreme TICK Counter to ThinkOrSwim The Extreme TICK Counter is a free ThinkOrSwim study: import the downloaded .ts file, or paste the 7 lines from the Code tab into a new study. - Download the .zip from this page. It holds one study file, TI_ExtremeTICKCounterSTUDY.ts. - Import the file as a study. Our guide on how to import a study into ThinkOrSwim walks through it. - To build it by hand, click the Studies icon on a chart, then click Create. - Give the study a name. In the video I called it the TI tick reading counter. - Paste in the code from the Code tab and click OK. - Use an intraday chart. I used a 1-minute chart of the SPY ETF. ## How the Extreme TICK Counter Code Works The Extreme TICK Counter code has 4 parts: a new-day check, 2 flags for extreme readings, 2 counters that add up the flags, and 2 labels that print the counts. The snippets below come from the download. ### Step 1: Find the Start of Each Day (This step's code is free with an account.) This is the same new-day line as the [Cumulative TICK](https://tosindicators.com/indicators/cumulative-tick) tutorial. GetDay() is built into ThinkOrSwim. When the current bar's day doesn't match the previous bar's day, it's a brand new day, and that's the divider the counters use to reset to 0. ### Step 2: Flag the Extreme Readings (This step's code is free with an account.) negTickReadings reads the low of each candle for the symbol $TICK , the NYSE TICK. On a 1-minute chart, that's the low of the 1-minute candle. If the low is at or below -1,000, the flag is 1. Otherwise it's 0. posTickReadings is a copy of that line with 2 changes: it reads the high instead of the low, and it checks for 1,000 or more. Setting each flag to 1 or 0 is what makes the counting in the next step possible. ### Step 3: Count the Flags (This step's code is free with an account.) Each counter checks 3 cases, in order: - New day: the counter goes back to 0, so it refreshes every day. - Extreme reading on this bar: the counter takes its value from the previous bar and adds 1. - Neither: it carries the previous bar's value forward, so the count stays intact. posCounter repeats the same logic with the positive flag. A bar with neither a +1,000 nor a -1,000 reading leaves both counts where they were. The new-day case comes first, so the first bar of each day sets both counts to 0 even if that bar had an extreme reading. Counting starts on the second bar of the day. ### Step 4: Print the Labels (This step's code is free with an account.) AddLabel takes 3 parameters: when to show the label, what text to show, and the color. yes shows the label any time the study is loaded. The text joins a short name to the counter value, green for the positive count and red for the negative count. Our [AddLabel tutorial](https://tosindicators.com/thinkscript/labels) covers the function in more depth. ## What the Counter Showed in the Video The Extreme TICK Counter in the video ran on a 1-minute chart of the SPY ETF. That day, the labels counted +1,000 readings 3 times and -1,000 readings 5 times. With 5 extreme selling readings against 3 extreme buying readings, there was more selling pressure than buying pressure that day. That's the question the indicator was built to answer, and it answers it at a glance as the day goes on. ## Why the Count Changes With the Timeframe The Extreme TICK Counter counts candles, so the chart's timeframe changes the totals. A 5-minute candle counts a +1,000 or -1,000 reading only once in its 5-minute span, even if the TICK reached that level in several of those minutes. Chart One count means Effect on the totals 1-minute A minute where the TICK reached the level The most zoomed-in count, the one I used 5-minute A 5-minute candle where it did The same or fewer counts for the same day 15-minute A 15-minute candle where it did The same or fewer again A larger candle can also count on both sides. If the TICK hit +1,000 and -1,000 inside the same 15-minute candle, both counters go up by 1. Compare days on the same timeframe so the numbers line up. ## How I Use the Counts The Extreme TICK Counter gives me a gauge of the day's buying and selling pressure. More -1,000 readings tells me selling pressure has had the upper hand. More +1,000 readings tells me buying pressure has. I also watch how the counts change as the day goes on, since a day that opens with -1,000 readings can see +1,000 readings ramp up later. The counts describe pressure that has already happened. Use them as context next to the tool you use for entries, decide where your stop goes before you take a trade, and size it so a stop-out costs a small, fixed share of your account. ## Changing the Levels and Related Tools The Extreme TICK Counter's 2 levels are written into the flag lines. To count a different level, change -1000 in the negTickReadings line and 1000 in the posTickReadings line, then update the label text so you remember what it counts. The counter pairs with our other free market internals tools. The [Supply Demand Edge indicator](https://tosindicators.com/indicators/supply-demand-edge) marks bars where price makes a new high or low of the day while the TICK or the advance/decline spread doesn't. For ways to read the TICK on trend days, see [2 ways to use the NYSE $TICK to spot trend days](https://tosindicators.com/research/nyse-tick-spot-trend-days-thinkorswim), and find more studies on our [free indicators page](https://tosindicators.com/indicators). The full thinkScript code is free with an account: [create one](https://tosindicators.com/register) or [sign in](https://tosindicators.com/login) on this page. ## Download Extreme TICK Counter Download the Extreme TICK Counter for ThinkOrSwim. The download is a .zip with one study file, TI_ExtremeTICKCounterSTUDY.ts. It holds the same 7 lines of code as the Code tab on this page, with labels that read Pos $TICK and Neg $TICK. If you haven't added a custom study before, here's [how to import an indicator into your ThinkOrSwim platform](https://tosindicators.com/thinkscript/how-to-import-thinkorswim). [Download free](https://tosindicators.com/indicators/tick-counter) ## Video: Extreme TICK Counter, built line by line 10 minutes on YouTube. [Watch on YouTube](https://www.youtube.com/watch?v=k-P5_BpRsPE) ## Questions What does the Extreme TICK Counter do? The Extreme TICK Counter counts how many bars today reached +1,000 or higher and how many reached -1,000 or lower on the NYSE TICK ($TICK). It shows the 2 totals as labels on your chart, green for positive and red for negative, and resets both to 0 at the start of each day. How do I add the TICK counter to ThinkOrSwim? Download the free .zip from this page and import TI_ExtremeTICKCounterSTUDY.ts as a study. To build it by hand, click the Studies icon on a chart, click Create, name the study, paste in the 7 lines from the Code tab, and click OK. In the video I added it to a 1-minute SPY chart. What counts as an extreme TICK reading in this indicator? A bar counts on the positive side when the high of $TICK on that bar is 1,000 or more. It counts on the negative side when the low of $TICK is -1,000 or less. Because the study reads the high and low, a bar that touched the level and pulled back before it closed still counts. Why do the TICK counts change when I switch timeframes? The counter counts candles. On a 1-minute chart, each minute that reaches +1,000 or -1,000 counts once. On a 5-minute or 15-minute chart, a candle counts the reading only once in its whole span, even if the TICK hit the level in several of those minutes, so the totals change. I used a 1-minute chart in the video. Does the TICK counter reset every day? Yes. The study uses GetDay() to find the first bar of a new day, and on that bar both counters go back to 0, even if the bar had an extreme reading. From there, each bar with an extreme reading adds 1 to its counter, and every other bar carries the count forward, so the labels show the count for the latest day on the chart. How is the TICK counter different from the Cumulative TICK indicator? The Cumulative TICK indicator adds up each bar's TICK value from 9:30 to 4:00 Eastern and plots the running total in a lower pane. The Extreme TICK Counter only counts the bars that reached +1,000 or -1,000 and shows those 2 counts as labels. Both read the NYSE TICK and start fresh each day. How do I read the positive and negative TICK counts? Compare the 2 numbers. More +1,000 readings points to more buying pressure, and more -1,000 readings points to more selling pressure. In the video, the SPY chart showed 3 positive and 5 negative extreme readings that day, so selling pressure had the edge. Watch how the counts change through the day as well. Can I change the TICK levels the counter uses? Yes. The levels are written into the 2 flag lines of the code: -1000 in the negTickReadings line and 1000 in the posTickReadings line. Change those numbers to the levels you want to count, then edit the label text to match. The counters and the daily reset work the same at any level. ## Related tools [How to Create Text Alerts for Extreme $TICK Readings: thinkScript tutorial · Free](https://tosindicators.com/thinkscript/tick-alerts)[Supply Demand Edge: Indicator · Free](https://tosindicators.com/indicators/supply-demand-edge)[Cumulative TICK: Indicator · Free](https://tosindicators.com/indicators/cumulative-tick)[P/E Ratio: Indicator · Free](https://tosindicators.com/indicators/pe-ratio)[Opening Range Breakout: Indicator · Free](https://tosindicators.com/indicators/opening-range-breakout)[Rate of Change: Indicator · Free](https://tosindicators.com/indicators/rate-of-change) ## Get each new indicator by email One email on Sundays with the week's new tool and its code. 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