Here nosotros encounter the S&P 500 Index (SPY; blue), plotted against a volume-weighted version of the cumulative NYSE TICK line.
By weighting the cumulative TICK past times volume, nosotros usage a surrogate mensurate of coin flow. The indicator tells us if book tends to last coming into the marketplace on upticks vs downticks.
This is an experimental indicator as well as volition become through multiple iterations earlier if I decide if it offers unique value. My feel is that it is non a timing indicator, merely rather a wide mensurate of full general marketplace persuasion every bit the solar daytime evolves. Interestingly, it shows a to a greater extent than bullish persuasion than cost suggests; it is too firmer than the cumulative Market Delta mensurate (which is specific to ES futures, non the wide listing of NYSE issues).
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