This statistical analysis tool mines historical relationships between RSI values and candle volatility. It calculates a 14-period RSI from the previous bar and normalizes absolute price change using a 14-period Average True Range (ATR). Based on the normalized
Indicator · Pine Script v6 · Own pane
Market Speedometer
Market Speedometer plots a 0-100 market speed reading in a separate pane.
GitHub stars218on the repository
Pine versionv6current
Lines of code257
Settings15inputs
LicenceNone stated
Last update3 months ago23 Jul 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Market Speedometer measures movement by bar-to-bar change, true range, or a short average of recent bars, then ranks that movement against ATR and a percentile lookback. An EMA smooths the reading, and four thresholds split it into dead, slow, medium, fast, and extreme zones. Users can show an average speed line and a status table, and can alert on zone changes or extreme speed. It does not place trades or set stops.
- Bar-to-bar, true range, and recent-bar speed methods
- ATR-relative percentile speed ranking
- Five adjustable speed zones
- Optional EMA-smoothed average speed line
- Status table plus zone and extreme alerts
Details
Published by
TradersPost on GitHub
Type
Indicator, Pine Script v6
Draws
Separate pane below the chart
Category
Volatility & bands, Oscillators & momentum, Screeners & dashboards
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Speed Measurement Method | string | Bar-to-Bar | speedMethod |
| Average Bars (if using Avg method) | int | 3 | avgBars |
| ATR Period | int | 14 | atrPeriod |
| Percentile Ranking Length | int | 100 | percentileLength |
| Speed Smoothing (EMA) | int | 3 | smoothing |
| Dead/Slow Threshold | int | 20 | threshold1 |
| Slow/Medium Threshold | int | 40 | threshold2 |
| Medium/Fast Threshold | int | 60 | threshold3 |
| Fast/Extreme Threshold | int | 80 | threshold4 |
| Show Average Speed Line | bool | true | showAverage |
| Average Speed Length | int | 20 | avgLength |
| Show Speed Display Table | bool | true | showTable |
Show all 15 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Table Position | string | Top Right | tablePosition |
| Enable Zone Change Alerts | bool | true | enableZoneAlerts |
| Enable Extreme Speed Alerts | bool | true | enableExtremeAlerts |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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