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Volume Pace or Speed of Trades Indicator ?


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Volume Pace or Speed of Trades Indicator ?

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  #41 (permalink)
milpitas, ca, usa
 
Experience: Intermediate
Platform: Tradestation
Broker: Tradestation, Ameritrade
Trading: ES, Gold, 10 Yr
 
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wldman View Post
the reasoning behind this effort. While there were a number of ways to get this insight in the past, the best thing I could come up with was to look at the time it took to complete a bar of some number of ticks. Also, the time and sales could be filtered for size and possibly have some type of auditory alert placed on it.

One example, if there was a beep for every X number of ticks, the trader could recognize what is normal and what is notable. Is the alert noise closer/tighter in frequency, meaning the market is fast.

Best of luck on this. I think it has value.

Dan

I like the idea of beeping every x number of trades in a candle. Trade Intensity tracks it but the auditory signal may make it more interesting.

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  #42 (permalink)
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JonnyBoy View Post
The MPace indicator is NOT a speed or pace of tape indicator. All it does is measure the distance (in points) from the open to close of a bar and multiplies that value by the volume of the bar.

For example, on a 1000 volume data series if there was 1 point of distance from open to close, multiply this by the volume of the bar to get a value of 1000. That would be your MPace value.

Another example, (insert whatever data series you want here) if there was 3.5 points from open to close and the volume of the bar was 34,869 the calculation would be 3.5 x 34,869 = 122,041.5 (or rounded to 122k) - that is your MPace value.

It is so simple it is almost criminal. In other words, if you like it, pay for this to be coded and you'll have the indicator you like. It is literally a few hours work, or kindly ask somebody on here to replicate this code for you for free.

Just to note however it DOES NOT show the Velocity (speed) of the tape and DOES NOT allow you to see the speed at which the BIDS are being HIT and the speed at which the OFFERS are being lifted - because that would be a whole other type of indicator.

@JohnnyBoy was 100% correct in his 'criminality' observation, thank you! I do however find some utility out of the MPace especially when used alongside other indicators but it's very different from a real pace counter that we're developing: Speed Indicator Rev-01. Our proprietary 'Algo' needs a lot more tweaking before it's trade-able but it was made possible thru the help of a professional programming service (abctradinggroup) and the gracious input from many on this thread (still an ongoing development) Thank you all for your input. I strongly suggest getting help to develop any type of a related indicator from a reputable source if you're not an experienced programmer yourself. I'll post more info as the experiment unwinds...

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August 21, 2018


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