About the Speedometer Indicator
The Speedometer indicator for MT5 is a specialized momentum tool that measures the rate of market activity rather than just price change.
It functions by calculating the speed of incoming price ticks, the total distance the price has traveled, and the specific time elapsed in milliseconds.
By monitoring the velocity of price movement, you can distinguish between slow, corrective grinds and aggressive, impulsive breakouts.
When the “speed” of the market increases, it often precedes a significant directional move.
This tool is essential for traders who rely on volatility to fuel their strategies, as it confirms whether a move has the necessary participation to sustain its momentum.
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speedometer.mq5 Indicator (MT5)
Key Features
- Measures tick velocity in real-time to gauge market aggression.
- Displays the exact distance price moves over a specific time interval.
- Calculates execution and movement speeds down to the millisecond.
- Provides customizable alerts when market speed exceeds a set threshold.
- Features a flexible interface with adjustable fonts, colors, and positions.
Indicator Chart
The Speedometer indicator chart displays a data panel in the corner of the terminal window.
It presents a live feed of tick speed and distance, which fluctuates rapidly during high-volatility events like news releases or session opens.
Guide to Trade with the Speedometer Indicator
Buy Rules
- Watch for a sudden spike in tick speed that coincides with a bullish breakout.
- Confirm that the distance covered by the price is increasing significantly.
- Enter a buy trade when high-speed activity aligns with a move above resistance.
- Verify that the speed stays above the threshold to support the upward move.
Sell Rules
- Identify a rapid increase in tick velocity during a bearish price move.
- Wait for the indicator to show a high distance-to-time ratio on the downside.
- Initiate a sell transaction as market intensity peaks at a support break.
- Monitor the speed to ensure that selling pressure is not fading prematurely.
Stop Loss
- Place the stop loss beyond the low of the candle that initiated the speed spike.
- Position the exit level outside of the current high-volatility range.
- Adjust the stop loss wider if the speedometer shows extreme market turbulence.
Take Profits
- Close the position when the tick speed begins to drop back to normal levels.
- Target a profit zone based on the average distance the price travels during spikes.
- Exit the trade if the price stalls while the speedometer remains at a high value.
- Use fixed targets that represent a multiple of the initial volatility-based risk.
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speedometer.mq5 Indicator (MT5)
FAQ
How does the threshold value help in filtering trades?
The threshold value allows you to set a baseline for what you consider “fast” market movement.
By adjusting this in the settings, the indicator will only alert you when the market exceeds this specific speed, helping you ignore the slow, choppy price action that often leads to false breakouts.
Can the speedometer predict a reversal?
While it is primarily a momentum tool, it can signal exhaustion.
If price reaches a key level and the speedometer shows an extreme spike followed by a rapid collapse in speed, it often indicates that the current move has run out of participants and a reversal may be imminent.
Why does the indicator show time in milliseconds?
The forex market moves incredibly fast, especially during high-frequency trading sessions.
Measuring in milliseconds allows the indicator to capture the most granular data possible, providing a more accurate representation of tick-by-tick momentum than standard time-based charts.
Summary
The Speedometer indicator is a unique utility that offers a deep look into the engine of market movement.
By focusing on tick speed, distance, and time, it provides a layer of data that traditional technical indicators simply cannot reach.
Its ability to send alerts whenever the speed exceeds a threshold makes it an invaluable companion for traders who need to react quickly to volatility.
