Do you know when the market is walking, when it's speeding, and when it's running extremely fast (a signal for something special that's going to happen)?
Our Market Speed will help! For your information, it adds a 1-tick data series running in the background to count ticks for all historical and real-time bars. Then it displays the speed of the market in meaningful numbers for you to easily understand. For example, you will see that during this bar the market travels at 10 ticks/minute but next bar it speeds up to 90 ticks/minute. That can be a very important signal for a critical event, such as trend reversal.
The major calculation is tick-over-time, but you can set the speed in 2 other units: displacement-over-time & volume-over-time.
(Displacement is equal to bar close minus bar open)
Key features:
- Plot the market speed in the unit you choose
- Allow choosing the speed unit: tick-over-time, displacement-over-time, volume-over-time
- Allow choosing unit of time: second, minute, hour
- Plot a moving average of the speed, which can be chosen from
- Operate well in any Calculate modes: on bar close, on each tick, on price change
- Allow calculating the displacement in points, ticks, or pips
- Colorize the plot based on bar bias: up, down, doji
- Be NinjaScript ready for advanced usage, only restricted by your imagination
- Expose dedicated NinjaScript signals
Dedicated NinjaScript signals:
- Signal_State: 0 = speed below/at average, 1 = speed above average
- 20 Jul 2023 - A minor display issue with the "User Note" was fixed.
- 20 Jan 2021 - Massive changes, fixes and improvements were made (display name, Z order).
- 17 Jun 2019 - The extreme speed capping was added; The signal_state was added.
- 27 Apr 2019 - The indicator was released (built new).
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