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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

Sim22 June 5th, 2010 02:17 AM

Thank you

victhiry August 6th, 2010 01:30 PM

Looks very interesting , thanks for the contibution,

kraig1623 October 10th, 2010 04:38 PM

Nice indicator thanks so much for sharing!

Default User November 2nd, 2010 12:45 PM

No Comment

Saroj April 2nd, 2011 09:39 PM

I'm not sure this version works in NT7, but the one on cunparis's blog (see link above in the text) appears too.

Thanks much cunparis for the indicator and all the information you provided plus the informative video.

Saroj

jrs659 May 31st, 2011 01:33 PM

works on 7 ,been using on 233 tick on spoos,,I thing this is really cool,,Thanks for sharing.

ejtrader June 30th, 2011 03:09 PM

Just came across this indicator when started thinking on the same lines. Thanks a bunch!!

RODLM July 1st, 2011 12:11 PM

I'm having some problems using this indicator. I think my data provider doesn't have historial tick data. So, is there any way to "record" the PaceOfTape indicator just like the GomRecorder does ?

bomberone1 June 20th, 2012 05:00 AM

Hi, is there indicator like this for multicharts?

newlifemkt November 1st, 2012 12:00 PM

Just what I needed, Thanks so much.

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