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stock777

Pace & periods

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  I read the help file 😁

 Maybe you could expand on what going on with the settings there, finding it a bit confusing as to what its actually doing between the two setting.

 

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"The value of pace shown is the total trading volume for the last Period compared to an average volume for such a Period in the last Averaging Period."

Let's say period is 10 and Averaging Period is All.

What MT does is takes ALL 10-candle periods in the chart - 1st candle thru 10th, 2nd thru 11th, 3rd thru 12th etc etc, calcs the volume for each of those periods and averages them. Then it takes the volume for last 10 candles and compares it (as a percent of) to that average.

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Example

 

If I said last DAY / period 5 , what would be the calc for that

would it be a rolling 5 bar average ONLY for the last day ?

 

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Yes. This way the pace would be determined based on the current day's action and not on the whole chart's. It is actually a pretty useful number. It also exists as an indicator, thus can be used in scans or paintbars.

And I don't think any other software I know of has it :). Maybe under some other name...

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