I've written a small indicator that makes a sound depending if there is a up tick ("click") or down tick ("bleep") in real-time trading.
This (might) help to hear the activity in the market (a pick up in activity will give a smaller time period between sounds), to hear where the price is going, and get a better feel for the instrument. Perhaps also interesting for people with a primary auditory learning style, since the sounds might resonate more with them then staring at the tick counter.
The idea for this is based on one of Niederhoffer's books (I thought it was Practical Speculation), in which he talked about how he listened to the markets by having a program that translates market movements into sounds.
I thought it would be funny to share, but I admit, it won't going to make you a millionaire.
The attached indicator works on real-time and playback charts and needs one input, and that is the directory in which you put the "bleep" and "click" sound. With Audacity the wav files were made as short as possible to prevent lagging the price when there are a lot of trades in a short time period.
The attached .zip file contains the indicator (.pla) and the wav files.
Let me know if you have an idea for a better market sound.
I'm not a musician, so I'm looking for some input from someone who better understands music to make this indicator nicer sounding than "bleep" and "click". I was thinking about using piano accords; but what accord would you suggest for the following events?
- Up tick trade with high volume;
- Down tick trade with high volume;
- Up tick trade with low volume;
- Down tick trade with low volume;
- Up tick with regular volume;
- Down tick with regular volume;
- New bar on chart.
The accord has to be descriptive of the event I think, but also distinctive enough from the other sounds.
Also, am I missing important events that you'd like to see in the indicator?
Last edited by Jura; February 1st, 2012 at 09:32 AM.
Reason: Asked for help with piano sounds
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Nice, I like the idea of this type of auditory input.
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Jura strikes again! Sensory input need not be via the eyes alone. The most perceptive of people make best use of all of their senses... I like the idea.
Maybe a high pitch tone for an uptick, and low, deeper tone for a down tick?
The inclusion of volume seems like a great idea too. I suppose one would need to define what makes for high or low volume though. If not something user configurable, maybe something 20% greater or less than the average volume, like for 20 bars. It would be really slick if such volume (mkt activity) could equate to audio volume, at least on the upside. So, if 20% higher than average volume, the audio sound is louder. Maybe if 50%, then 100%+, even louder still. Thinking out loud (pun not intended), so my apologies...
Maybe such an alert for inordinately large orders? Maybe one for notable ladder imbalances? I'm just a guy who has only traded live 3 days now, so I don't feel all that knowledgeable on such matters...
I must admit, upon reading the thread title, I thought it would entail what Thinkorswim offers, a live audio feed of the S&P pits.
Last edited by TonyB; April 16th, 2012 at 10:05 PM.