I wrote this indicator to supplement some automated strategies and help them stay out of turbulent/highly volatile market conditions.
This is for VIP Members only.
Previously, I would just exclude things like the Open or maybe certain times of day/day of week when news stories hit, etc (in particular I am talking about CL crude oil here), but I found this indicator to be quite helpful instead.
I have a big belief of not just excluding a trade or a range of trades/period because it keeps you out of bad trades unless it very much keeps you out of substantially more bad trades than good. Put another way, most the time I found when I told my strategy to just not trade the open that sure it didn't take some bad trades, but it also didn't take at least as many winning trades.
So this indicator doesn't function like that. Instead it just looks at how fast the bars are coming. It is worthless on a minute/daily chart but will work well on a range or volume chart.
Play around with it and see what value works well for you. For CL some of my strategies were using values of about 50 or 100, meaning anything higher than that and it would not trade.
Below is a screen shot. It is important to remember the indicator does not care about price. Rising/falling on TimedBarSpan has NO MEANING on price, it is only about the amount of time per bar, so don't think just because it's rising or falling it is supposed to follow price. However, you will see many times there is a sudden momentum shift which can be tracked using TimedBarSpan before a big move or to detect when a move is about to end.