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NinjaTrader 6.5 Indicators
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Pace of Tape
This indicator will show the # of ticks in the last x seconds. At key turning points, professionals will start scaling in and/or reversing. This will cause an increase in the activity in terms of the number of ticks.
When you get a peak, the reversal has probably already occurred, so this is used more to tell you to expect a reversal then it is to time the reversal itself.
Also keep in mind that in a strong move, professionals will scale out of their positions and may have to reverse two or more times (in effect averaging down). This is normal so keep in mind that the signals can be early. If price doesn't react to a signal, expect a another attempt by the pro's. If price doesn't react to the second attempt then the move is very strong.
It only works with tick charts.
The lower the tick size the more accurate.
See
this blog post
for more information including a short video & annotated chart.
History:
20100318 1.0.3
Added paintbar
20100317 1.0.2
Added audio alert
Uses Richard's algorithm which is much more efficient
20100315 1.0.1
Added threshold
Fixed bug where period was hard coded
20100314 1.0
Initial version
Category
NinjaTrader 6.5 Indicators
Details:
Pace of Tape
Category:
NinjaTrader 6.5 Indicators
March 15th, 2010
Size: 2.64 KB
Downloaded: 3661 times
376
cunparis
Comments/ratings
FR5050
March 15th, 2010 11:12 AM
Thanks Cuparis this is exactly what I was looking for. Great job.
Gorden
March 16th, 2010 07:56 AM
No Comment
CTGUY
March 17th, 2010 07:23 PM
Thank you for your share...very useful and needed indicator.
chipotlebop
March 17th, 2010 10:36 PM
very cool. thanks for your contribution.
riskybiz
March 22nd, 2010 09:49 AM
Thank You, I have been looking for somethingg like this
sysot1t
March 26th, 2010 05:36 PM
any chance to code it on easylanguage?
dandxg
March 27th, 2010 12:08 AM
No Comment
royt
May 4th, 2010 01:40 PM
Thanks for sharing
syxforex
May 9th, 2010 03:41 PM
Thanks cunparis, is this compatible with NT7?
bryantjim58
June 3rd, 2010 10:35 PM
Thank you for sharing. I was looking for something like this.
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