Tick Speedometer

A sudden jump in tick activity often shows up before a range expansion does, but it is easy to miss while staring at price rather than the feed itself. This indicator turns the raw tick stream into a per-minute rate and compares it against its own trailing hourly average, so "busy" is defined relative to how this exact symbol normally behaves rather than an arbitrary fixed number. Closed bars use tick_volume divided by the bar's length in minutes, which is exact because every tick is already counted into tick_volume. The bar still forming is handled differently: it divides by the minutes actually elapsed since that bar opened rather than the full bar length. Dividing by the full length would understate the rate for most of the bar's life, which defeats the point of a gauge that is supposed to react immediately, not average itself out over the next several minutes. When the live rate reaches a chosen multiple of the hourly average the panel flips to a burst label and, optionally, fires one alert. Nothing is drawn on the price chart itself - this is a feed-health read, not a directional signal. Notes and limitations - Tick counts are a proxy for feed activity, not real exchange volume; two brokers can report very different absolute tick counts for the same underlying market move. - The hourly baseline is a plain average, not a distribution - it does not know whether the current hour is typically quiet (Asian session) or typically busy (London/New York overlap), so a burst label during a normally quiet hour and one during a normally busy hour carry different weight that the trader has to supply. - Restarting the terminal or reattaching the indicator resets the live bar's elapsed-time tracking, which can show one unusually high or low reading on the very next tick. - This does not predict direction, only that activity has picked up.

Indicator · MT4 · v1.0 · Free

Tags: Trailing Stop & Break-even · Alerts · MT4 Indicator · MQL4 Source Code

MetaTrader 4 & 5 indicators · PolyMaria