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Modal Count (MC)

Technical Indicators

 

 

Modal Count (MC)

The Modal Count indicator is an integral part of the ProSticks theory. Modal Count measures the strength of the Modal Point for a particular interval. Usually, significant Modal Points (acting as possible candidates for future support and resistance) tend to have greater Modal Counts. This simply means that the market traded at that price (i.e. Modal Point) for a relatively long period of time for that interval.

 

With this information, one may use this indicator as how one would use Volume (i.e. as a signal that the price is about to move). For example, if the price is at a support level and there is a relatively larger Modal Count than average, and the price rebounds off this level afterwards, a significant support has been met.

 

Note that Modal Count is associated with ProSticks-By-Time while Modal Volume is the equivalent indicator for ProSticks-By-Volume.