Ticker Instructions

Each TICKER or SYMBOL if you prefer has its own unique values that it trades in – this is the TICK size.

It is important to set your TICK size to some value that allows you to select lower value swings as the MINIMUM SWING you can select is 4 times the entered TICK VALUE.  ES set to 0.25 TICK VALUE allows you to overlay a minimum of 1 point swings on your chart.  A TICK VALUE of 0.01 would allow you to select a minimum of 0.04 TICKS. If you wish to manipulate the swing value you can do it by changing the TICK VALUE but in doing so you will also amplify or reduce the accuracy filter allowed between ratios on the XABCD TABLES.  As a rule of thumb I wouldn’t set the TICK VALUE much under 1/40th of the average daily range.

The accuracy filter settings for highlighting ratios when they occur work on a per TICK value. For instance if a range being measured is:-
<= 50 TICKS the leeway allowed will be 1 TICK, >50 to <=200   2 TICKS,  200-800  3 TICKS, 800-3200  4 TICKS, >3200 5 TICKS. This means ratios will be highlighted when the current D level comes within +/- Ticks of the targeted ratio.

50 TICKS on the ES is 50×0.25 = 12.5 points and we have tuned the accuracy filters to the ES  S&P 500 so you may find on some other futures contracts a need to experiment with the TICK size, for instance the DJIA is quoted in 10,000.99 but as you can imagine 0.01 would be a ridiculous TICK SIZE for it, more like 1 or 2 would be better suited to it.  Same goes for the SPX where it is quoted as 1100.99 and the SP which is quoted as 1100.9 – both of these I would set to 0.25 the same as we are using for the ES.

TICK SIZES I recommend
ES 0.25
SP 0.25
SPX 0.25
OEX 0.10
Dow 2.00

If you still don’t understand it is all about the ratios you wish to filter on the XABCD tables the WAVETRADER produces.

A move up on the ES of 10 points equals (10×4 or 40 ticks).

a 50% retracement is 5 points (5×4 or 20 ticks).

If you want a 50% retracement to highlight only when it is close like within 1 or 2 ticks follow my settings advice. As the ranges enlarge the WT will allow comparative increases so that a highlight will occur on a larger range when it is appropriate. Each RATIO highlight is also accompanied with an actual target price to tell you if you are right on it or only on the verge.