Speedometer & Psychology Module
Objectively Quantifying Market Speed & "Feel"
Last updated
Objectively Quantifying Market Speed & "Feel"
Last updated
The AlgoBox™ Speedometer tracks market pace in real time. Using AlgoBars, it measures Bars Per Minute (BPM) to give you a clear, objective measurement of market speed.
"Knowing when NOT to trade can often be more important than knowing when to trade." -Anonymous
Use the Speedometer to gauge market speed and adjust your trading strategy accordingly. Identify optimal trading conditions for different instruments and chart sizes.
After some practice you may become accustomed to certain speed ranges that favor your own trading style, which you can then program into the settings of the AlgoBox™ Speedometer indicator.
The background color is customizable.
When the market moves at a pace beyond your ideal BPM range, the Psychology module will instantly display the visual alerts you've chosen. Audio alerts are also available.
The Psychology Module T-Text option displays four different speed alerts: TOO FAST GREAT SPEED VALID SPEED TOO SLOW
With three different display options, you have a total of seven possible combinations of settings for variety and customized alerts.
When the market is moving too fast you have the option of "Gear Shifting" to a bigger AlgoBar chart.
Adjust ATM settings when changing chart sizes. Larger charts may require larger stop losses and targets, increasing risk but also potential rewards. Smaller charts may need smaller ATM settings for shorter market swings.
During extremely volatile market times, it's common for some instruments to move too fast to trade, such as the NQ futures. In this case, the Gear Shifting tactic is applied to instruments. You may consider analyzing YM instead of NQ. If YM is still too fast, then RTY may offer a suitable speed. If RTY is too fast, you may want to look at the ES.
Gear Shifting instruments is not limited to NY, YM, RTY, & ES. There are many other instruments available, such as crude oil, gold, FDAX, currencies, etc.
Tip: Know the tick value for each instrument you trade so you can assess your risk and size your positions properly.
The audio alerts you once a Speedometer & Psychology Module is plotted on the chart. You can customize these alerts by changing the audio to a preferred voice or sound, or turn them off entirely.
Alert Value: You can customize the threshold value for triggering sound alerts, defining when the alert sound activates. By default, this value is set to 50.
Sound Alert: Receive sound alerts for the Speedometer & Psychology Module, with the option to add your own custom sound.
AlgoVoice: You can enable or disable real-time audio alerts as per your preference.
Voice Rate: You can customize the speed of the AlgoVoice alerts to your preference.
All custom sounds must be in .wav file format only.
Avg Prev Mins: This setting displays the time required to update the average preview speed.
Background: You can toggle this setting on or off to display or hide the psychology color on the background.
Overlay: You can toggle this feature on or off to show the psychology blue 'X' on the chart.
Text: You can toggle this feature on or off to show or hide the "Do Not Trade" psychology text on the chart.
Psych High Value: This setting activates the psychology Background, Overlay, and Text on the charts when the speed exceeds the specified value.
Psych Low Value: This setting activates the psychology Background, Overlay, and Text on the charts when the speed is below the specified value.
Visual Setting provides the ability to customize colors or upload an image of your choice for a personalized experience.
Displays the current chart instrument, contract date and configurations applied.
Input Series: This setting determines which chart the indicator is displayed on, linking the indicator to the selected chart data.
Allows you to add a label, set the maximum bars to look back, and configure calculations based On Price Change, On Bar Close, or On Each Tick.
On Price Change: Updates the indicator only when there is a change in the instrument's price.
On Bar Close: Updates whenever a new bar closes, recalculating based on the finalized bar data to reflect the latest market conditions and changes in trends. Be mindful of whether you are using AlgoBars or range bars. This is the default setting for this indicator.
On Each Tick: Updates with every price change or tick in the market, providing real-time adjustments and reflecting the most current data. This setting increases CPU processing load.
Allows you to customize button colors, adjust the button placement, and modify the font type and size to suit your preferences. The Visual Settings shown are default settings which usually do not need to be changed unless specified in release notes or instructional video, live stream or on Discord etc. Auto scale is recommended to be unchecked.
Auto Scale: Automatically adjusts the indicator’s scale to fit within the chart’s price axis, ensuring it’s properly visible without manual adjustments.
Displacement: Shifts the indicator's plot forward or backward on the time axis. This setting is useful for aligning the indicator with price bars or other chart elements, especially in cases where you want to visualize future or past data relative to the current price.
Display in Data Box: Determines whether the values are shown in the Data Box, which is an on-screen display that provides detailed information about the current values when you hover over or click on the chart.
Panel: Specifies which panel or sub-panel the indicator is displayed in on the chart. Indicators can be placed in separate panels above or below the main price chart, allowing for organized and uncluttered visualization of multiple indicators.
Price Markers: Controls the display of markers or symbols on the price axis associated with the indicator's values. This setting helps highlight specific price levels or events directly on the price chart for better visibility and analysis.
Scale Justification: Determines where the indicator is positioned on the price scale, such as to the right or left side of the chart.
Visible: Toggles the overall visibility of the indicator, allowing you to hide or show it on the chart as needed.
All settings displayed in the settings image are the current default configurations provided by NinjaTrader and/or the AlgoBox™ Pro software, and may change at any time in future software updates without notice.
Only available on AlgoBox™ for NinjaTrader 8. Try AlgoBox™ for free today.
