Pace of Tape
Posted: Tue Mar 16, 2021 8:19 am
Pace of Tape (PoT) indicator with a detachable meter widget.
PoT measure the intensity of the trades. The Pace of Tape study tracks the rate at which orders are being filled and can be used to identify when trading is being conducted with greater speed. (Euphoria)
Sudden increases in trading activity can be seen and responded to quickly, whether that is waiting for order entry criteria to be met or to help with trade management.
The Indicator has a detached power meter widget which shows the pace and the average. The widget adapts to the changing conditions and recalibrates itself to always present visible clues. The widget also has a smoothing feature to filter extreme noise.
The settings panel lets you to configure the PoT as described below:
(Please do not forget to hit Enter if you change numerical fields)
Bar Interval: The bar interval for the calculation. It is focusing on day traders and scalpers therefore shorter periods are available (1s, 2s, 5s, 10s, 30s, 1m, 5m)
PoT smoothing period (bars): The number of bars to smoothen out spikes in the pace of Tape. The value will be a moving average of the last N bars. If no smoothing is required, set this to 1. (It must be a round number)
PoT lookback period (bars): The number of bars to use for the average indicator and the widget calibration. The widget max value is scaled to the max value of the lookback period, the average value is calculated as a moving average of the lookback period. (It must be a round number > 0)
Start PoT Meter: Button to display the widget
PoT Indicator color: Color of the bottom type PoT indicator
PoT Average Indicator color: Color of the bottom type PoT Average indicator
PoT measure the intensity of the trades. The Pace of Tape study tracks the rate at which orders are being filled and can be used to identify when trading is being conducted with greater speed. (Euphoria)
Sudden increases in trading activity can be seen and responded to quickly, whether that is waiting for order entry criteria to be met or to help with trade management.
The Indicator has a detached power meter widget which shows the pace and the average. The widget adapts to the changing conditions and recalibrates itself to always present visible clues. The widget also has a smoothing feature to filter extreme noise.
The settings panel lets you to configure the PoT as described below:
(Please do not forget to hit Enter if you change numerical fields)
Bar Interval: The bar interval for the calculation. It is focusing on day traders and scalpers therefore shorter periods are available (1s, 2s, 5s, 10s, 30s, 1m, 5m)
PoT smoothing period (bars): The number of bars to smoothen out spikes in the pace of Tape. The value will be a moving average of the last N bars. If no smoothing is required, set this to 1. (It must be a round number)
PoT lookback period (bars): The number of bars to use for the average indicator and the widget calibration. The widget max value is scaled to the max value of the lookback period, the average value is calculated as a moving average of the lookback period. (It must be a round number > 0)
Start PoT Meter: Button to display the widget
PoT Indicator color: Color of the bottom type PoT indicator
PoT Average Indicator color: Color of the bottom type PoT Average indicator