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Pace of Tape

This indicator will show the # of ticks in the last x seconds. At key turning points, professionals will start scaling in and/or reversing. This will cause an increase in the activity in terms of the number of ticks.

When you get a peak, the reversal has probably already occurred, so this is used more to tell you to expect a reversal then it is to time the reversal itself.

Also keep in mind that in a strong move, professionals will scale out of their positions and may have to reverse two or more times (in effect averaging down). This is normal so keep in mind that the signals can be early. If price doesn't react to a signal, expect a another attempt by the pro's. If price doesn't react to the second attempt then the move is very strong.

It only works with tick charts. The lower the tick size the more accurate.

See this blog post for more information including a short video & annotated chart.

History:

20100318 1.0.3
Added paintbar

20100317 1.0.2
Added audio alert
Uses Richard's algorithm which is much more efficient

20100315 1.0.1
Added threshold
Fixed bug where period was hard coded

20100314 1.0
Initial version

Category NinjaTrader 6.5 Indicators

Details: Pace of Tape
Category: NinjaTrader 6.5 Indicators

March 15th, 2010
Size: 2.64 KB
Downloaded: 3658 times

Comments/ratings

FR5050 March 15th, 2010 11:12 AM

Thanks Cuparis this is exactly what I was looking for. Great job.

Gorden March 16th, 2010 07:56 AM

No Comment

CTGUY March 17th, 2010 07:23 PM

Thank you for your share...very useful and needed indicator.

chipotlebop March 17th, 2010 10:36 PM

very cool. thanks for your contribution.

riskybiz March 22nd, 2010 09:49 AM

Thank You, I have been looking for somethingg like this

sysot1t March 26th, 2010 05:36 PM

any chance to code it on easylanguage?

dandxg March 27th, 2010 12:08 AM

No Comment

royt May 4th, 2010 01:40 PM

Thanks for sharing

syxforex May 9th, 2010 03:41 PM

Thanks cunparis, is this compatible with NT7?

bryantjim58 June 3rd, 2010 10:35 PM

Thank you for sharing. I was looking for something like this.

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