We are happy to announce the release of 188.8.131.52 J of Jigsaw daytradr™ with the new Pace of Tape Smart Gauge™.
Pace of tape is an integral component of reading Order Flow. In a recent video from Alex Haywood at Axia Futures (a London based proprietary trading firm), he discussed using the increase in trading activity as you approach an extreme. An increase in pace making it more likely that the extreme will break.
So – use these in isolation but also across correlated markets so you have an understanding if increases in activity are specific to your market or represent an increase in interest across the board. This is what a lot of us are doing in terms of the way the market moves and this add another dimension to that.
A lack of activity has always been associated with a lack of follow through. Now, with the Jigsaw Pace of Tape Smart Gauge™, you can pull up gauges for the market you trade and the correlated markets to get at a glance view of how active your markets really are.
This self-tuning tool doesn’t have hundreds of parameters, in fact there’s just 1 setting to allow you to tune into markets that have more variability in the pace from minute to minute. In the markets we’ve looked at – Pace of Tape has been consistent enough to not require changing from the default – but it’s there should you need it.
There’s numerous ways you can use this. For example – if a trade is going against you but there’s not much activity, it’s to be considered differently from a market that is moving against you with a huge amount of activity.
The Pace of Tape Smart Gauge™ is the first of 3 gauges we will release. The reason for releasing this one first is to get your feedback on the concepts, so that we can be sure that the meters end up as a combination of what we think works best with what the users want.