wldman 

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.

JonnyBoy 

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...

Hello, did you ever achieve a pace of tape indicator in another language? I would also like to use it. something for Mt4 or Tradingview perhaps? I have searched Tradingview and dont see anything similar. which surprises me given the breadth of indicators Tradingview has. Also, would Chat gpt be able to convert something like this? Correct, I am not a coder unfortunately, just a "poor" trader. I worked with one coder from Ukr and he said it was impossible. I did search on Tv indicators for speed, and found some similar, however, the pot indicator was quite good at showing where the institutions were distributing. Thank you

@traderTX Hello, we did not pursue moving forward with this idea as many vendors began offering similar Speed of Tape/sales indicators and only developed it for NT8 and MC's but found it to be resource intensive. I also began using Bookmap (for reading Order Flow) around the same time (which is not bound by Time) and no longer needed such indicator as I could see the Volume acceleration visually as it occurred.

In fact, after fully becoming familiar with Bookmap I no longer use any Indicators at all just read the Order Flow Live and Trade. IMO, indicators are reading in the rear view mirror what the Live auction is showing if you have the right tools and experience. They offer an incredible amount of free training and it does have a long and steep learning curve but worth the effort if you plan on doing this Full-time in a professional manner, IMHO.

I was never able to get my older indicators coded from TS to Pine (a few years back) but then again with Bookmap I would not use them anyway today. TradingView is one of the best Charting softwares available and maybe more popular today and easier to find coding help, good luck with your trading/endeavors.

I had seen images of the bookmap charts but never knew the source, thank you. Another tool i have thought about and not found was an auditory sound representation of the ask-bid tics. so perhaps think of morse code, dit - dot - dit - dit - dot. And be able to hear in real time the order flow. louder would be for larger orders, etc.

@traderTX Actually what I found was that the "High Speed" orders where actual Hidden Icebergs refreshing in milliseconds and absorbing all the Volume at that Price Level which Bookmap has an 'Add-on' that identifies and shows these (along with STOPs Blown) when using MBO Data from the CME exclusively thru Rithmic (only data-feed allowed to display this CME info, as far as I know).

It solved the 'Pace of Tape' mystery and also lets me see whether they are Buying or Selling Icebergs and whether they are Buying/Selling into other Traders STOP Orders (Market Orders) which is why you see the acceleration in Volume as they absorb these Market Orders instantly.

Bookmap with many of the 'Add-On' offerings basically made all the other Retail Trader Indicators Obsolete IMHO. It's now an essential part of my Trading and keeps me focused on 1 screen and 1 chart. I still use TPO & Volume Profiling for Higher Time Frame Analysis and to retrieve Market Statistics (ONH/L, IBH/L, etc.) and transfer them over to BMap but for me using indicators now as an 'Order Flow' Trader is like looking in the Rear View Mirror driving a Formula 1 car.

You can see in the attachment Icebergs Buying Yesterday's ES Low before 09:55am EST as they were blowing STOPs Lower signalling a Potential reversal after the STOP Exhaustion (which you can also see) since there is No 'Initiative SELLING' just a STOP RUN for Liquidity hunting.

Have you got the code in easylanguage for these indicators?

Also Volume delta candle is a great indicator. It plots the differenze from volume filled at bid or at ask and genererates a candle with h,l,o,c with the time frame of data 1 shoosen.