I am searching through the Forums and I don't see anything like this. Is it possible in ThinkorSwim to create a Counter that displays say in the upper part of the chart that counts how many trades are being executed per Minute/ per 30 Minutes/ per Hour and if it is possible, could somebody help guide me in how to do it?
I'd like an indicator like this as sort of a Market Speedometer which can allow us to better gauge how aggressive or passive we can be when trying to Limit ourselves into the Market.
I'm a novice with ThinkScript and have created a few personalized indicators already but need some guidance.
Just thinking about it... We can define a variable that counts the number of times Current Price is greater than or less than Previous Price (recursive) and in the case of Per Minute, we would just take the Current Counter and the Previous Counter (again a recursive) and Average those 2 Counters every minute.
I'm not sure if we can tell ThinkScript to do something once every set time period. Time has always been a tricky thing for me to understand in ThinkScript.
Is there a better way to do this other than a Trades per time period Speedometer?
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maybe not the answer you were looking for..
It can certainly be done in Ninjatrader, and the accuracy of such indicators will be improved with announced changes appearing in Ninjatrader 8.
I greatly prefer Ninjatrader to Think or Swim, which I tried and rejected.. after just a few minutes.
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I worked with ThinkScript only for a short time so I am not sure but the code for indicators etc on most platforms executes whenever a trade is executed and the platform receives data regarding that trade. So everytime there is a tick, the code would get executed once. Assuming this, you could code a counter to get incremented by 1 and have another set of variables to record time. I think you can easily prove this by writing a small piece of code and see if it gets executed only once per incoming tick.