Here is a Volume "Pace of Tape" indicator that provides very useful indications of upcoming market reversals. It works by calculating order volume per second, and changes the indicator colour to yellow when the volume pace exceeds the standard deviation value setting. The average volume pace is shown as a solid cyan line, and the standard deviation limit is shown as a dotted red line. You can also set the length used for calculating standard deviation and volume pace to get the sensitivity you require. (This indicator makes reference to functions I included in my implementation of BetterVolume.)
Please let me know if any issues and I will try to post an update.
Jeff
TraderScience.com
Volume Pace Indicator for MC.Net
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Volume Pace Indicator for MC.Net
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- _tsPaceOfTape_20170426_1.pln
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- ts_PaceOfTape_settings.jpg
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- ts_PaceOfTape.jpg
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