This indicator displays the speed of tape.
This is how the indicator looks on the chart.
*Note! When installed, the indicator has default settings and these settings are not suitable for all instruments and time frames, so the indicator needs to be configured.
To add and set up the following indicator, open the Indicators Setup window.
Settings for the Speed of Tape indicator:
AutoFilter – enable/disable automatic calculation of the filtration (recommended for beginners).
Auto Filter Period – averaging period for automatic calculation of the filtration (only works when the Auto Filter is enabled).
Time filter, sec – the period of time for which the amount of executed trades is calculated to determine the speed of prints (trading activity).
Trades Filter – the minimum number of trades required to highlight trades took place during the period.
Calculation Mode – 5 modes are available:
Use alerts - activate alerts.
Alert file - select an audio file for the alert.
BackGround - background color setting in the alert window.
It draws a ray from the middle of a bar/candle when the price is moving fast.
If the delta of a bar is green, we see a green ray. If it is red, we see a red ray.
Visualization works only on second time frames and non-time chart modes!
Show price selection.
- Line style;
Panel - choose the location of the indicator on the chart:
- New panel.
Speed of Tape - color settings.
Show zero values.
Show value - it displays the indicator value on the price scale.
Scale - if this option is enabled, the scale will be calculated automatically based on the minimum and maximum indicator values, so that the indicator can fit on the chart.
Visual type - a visual setting of the indicator display in the chart.
- Up arrow
- Down arrow
- Axis label
Line style - setting of the line display style:
- Dash - dot
- Dash - dot - dot
Width - setting of the indicator line width.
Maximum Speed - Maximum Speed color settings (settings are similar to the Speed of Tape color settings above).
Filter line - Filter line color settings (settings are similar to the Speed of Tape color settings above).
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