The Geiger Counter was designed to enable you to easily add Buying and Selling Pressure analysis and Time and Sales data to any chart. With this indicator you can see the Pace of the Tape and Order Flow Analytics in an easy to understand Tape Speed Monitor format that allows you to quickly Read the Tape.
Use the Geiger Counter’s rate intensity histogram to determine reversal points. A large block of spikes at a fast rate shows either buyers or sellers hitting their stops/removing their position.
-The white line on the histogram and needle shows a running moving average of the buyers vs sellers. A rise/fall cross zero, above/below zero indicates if the Buyers or Sellers are in control.
Additionally, the Geiger Counter gauge an instantaneous indicator of order flow shift.
Advantages of the Geiger Counter:
The horizontal display of the tool summarizes bid/ask time and sales data. This is trades at bid or ask and the net calculation. Moving averages are used to more readily spot trends.
The net calculation is particularly useful when looking for upward or downward slope – since it shows the pressure moving in the opposite direction from where it was. For example, there is a consistent shift in bid vs ask pressure at each sample.
Finally, the rate at which this display scrolls to the left is based on the time between each trade coming in. This directly shows how active the market is at any given time.
The circular gauge display references inside bid and ask numbers.
The trend indication element is a weighted look at all the individual indicators combined. It it useful to identify short term trends. For example on a Mean Renko chart, the Geiger Counter is very good at identifying trend change prior to a reversal shown in the bars.
Important Design Notes:
1. Geiger Counter only works with data feeds delivering bid/ask data. Typically, this mean Futures, Stocks/Equities, FX Futures and some Spot Forex. Please check with your data provider.
2. If you use NinjaTrader’s Market Replay with the Geiger Counter it will get out of sync if you fast forward. Due to the precision accuracy of this trading tool, time samples must be done using the real clock.
Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
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