Jimi - sorry for the late reply. I have been on a building site for most of the day.
Having something like a tickometer, would help in deciding pacing and market structure. A market that is moving up or down at an average of 2 pts per minute should have a different structure to a market that is moving at 10 pts per minute. Yes, you can get a feel for it by just looking at the chart, but it is nice to have a specific number. For example, I have a 50 lots per minute cut off level for trading. If it goes below this I stop trading. If the price is moving at 2 pts per minute, then I will decide that for it to make the next resistance level up, I need to be more patient and wait for it to get there. Also maybe I should not panic and think it will suddenly move against me. As long as the tickometer stays constant then there is no need to close a trade. Just hypothecating really, but you get the jist.
Martin
Fascinating. I've noticed that the FTSE moves at two or three or four specific rates (as do other instruments). I'd like to know why, but it's really not important. If we can detect which one is happening at a particular time with any level of certainty, then we can react accodingly. Good point, thanks for the idea. I'll do some research next week. If I get anywhere interesting, I'll let you know. If anyone has anything to add, please do.
Jimi