Wow. Thank you. I always wanted to look at the rate of trades going of, as I had this idea that at the beginning of a significant change in price direction there might be, in general, a burst of trades. I never got to test the idea though, and I seldom trade short term now. But I did not know about "pace" which I appreciate you telling me about. If I ever do go back to shorter time scale trading, then I think I would use Sierra Charts.
The way you've described pace, it seems that it would give you similar information. Of course volume is the total number of shares or contracts traded in a particular period, and I guess pace, if I understood you correctly, is a relative measure of volume compared to the same time in the previous volume bar. Ticks in a tick chart on the other hand are simply trades regardless of volume (size of trade), and that leaves me wondering if the "tape" is any more reliable short term when reporting trades than when reporting volume. I always found there to be a lot of revisions to volume.
Thanks again for a really informative post. I think a lot of traders are going to find it useful.
