*...sceeto's* Tape Meter

**Tape Meter** surfaces basic, yet germane, tape reading information on 4 tick range bars for ES via color-coded dots.

The information plotted regards Bar Duration (Purple), Tick Ratio (Yellow), Number of Trades (Teal), and Volume (Light Green).

Tape Meter will only plot a dot above or below the bar if the activity on the bar exceeds certain threshold limits. If the minimum threshold limits are not met, then no plotting will take place.

**There are 4 threshold limits for each indication:**

- Current Value <= -1 Standard Deviation above the average number going back 1000 bars | Small dot below the high of the bar

- Current Value <= -2 Standard Deviation above the average number going back 1000 bars | Large dot below the high of the bar

- Current Value >= 1 Standard Deviation above the average number going back 1000 bars | Small dot above the high of the bar

- Current Value >= 2 Standard Deviation above the average number going back 1000 bars | Large dot above the high of the bar

**The following graphic shows the color coding for each indication (Duration, Tick Ratio, Number of Trades, Volume):**

T= Number of Transactions within the 4 tick range bar where the Order Flow Event occurred above\below Standard Deviation of average number of transactions over the prior 1,000 bars.e.g.T++ = # of transactions within the 4 tick range bar > 2nd Standard Deviation of the average number of transactions over the last 1,000 bars.V= Volume of the 4 tick range bar where the Order Flow Event occurred above\below Standard Deviation of average Volume over the prior 1,000 bars.e.g.

V- = Volume within the 4 tick range bar < 1st Standard Deviation of the average Volume over the last 1,000 bars.

U= Upticks - DownticksÂ of the 4 tick range bar where the Order Flow Event occurred above\below Standard Deviation of average Upticks - Downticks over the prior 1,000 bars.e.g.U++ =Â Upticks - DownticksÂ within the 4 tick range bar > 2nd Standard Deviation of the averageÂ Upticks - DownticksÂ over the last 1,000 bars.s=Â Duration = Duration of 4 tick range bar in seconds.e.g.160 s= 160 seconds = 2 minutes & 40 seconds.

Note-Â If an Order Flow Event does not have a V or T or U this indicates that these metrics did not breach +/- 1 Standard Deviation of their average of the prior 1,000 bars.

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