What are the settings that you recommend when using the Tick Molester on ES?

Readings beyond the thresholds win points either positive or negative. So a bar from 0 to 600 gets a score of 100. A bar from -600 to 600 gets a score of 0, since neither side really won.

The median price check gives bonus points to tick bars that are very positive or negative. This differentiates a 400 to 900 bar from a -400 to 900 bar.

We want to de-emphasize temporary extremes as much as we can without making the indicator laggy. So, we give the current score a weight of 2/3 and the previous score a weight of 1/3 and plot the average. This gives us a lag of 1/3 of a bar, which I think is acceptable, and smooths out the worst of the choppiness.

I´m trying to understand the indicator. Could you please explain the reasoning behind the formula.

for example: a 300-1200 tick reading would plot:

high tick > 500 = 1200-500
median price (450) 1100 = 2*1200 – 1100 = 1300
low tick > 500 = 0

so the value is 700+1300=2000

and the plot is (past value) + 2*(2000)/3

I´ve read your post a couple of times but I just can´t figure it out. I´m almost embarassed asking because everybody else seems to get it :)

I don’t have TS so the words I’ll give won’t be exact, but it’s something like:

1) Add ES to your chart.
2) right click, and one of the menu options should be format symbols or add symbol or something.
3) add the $TICK
4) format the $TICK, and on one of the tabs you should be able to set hide the bars in some way.
5) Add the indicator, and make sure you point it to the $TICK data, and not the ES data.

Maybe someone who still has tradestation can be more specific, but I know it is still possible (people have shown me its use)

Thank you so much for posting this indicator. I seems like it will be a great addition to my arsenal. Have you ever looked at NeoTicker for creating a customer tick I believe one version is Tick 16.