Is there any indicator known as the the speedometer?

<p id="isPasted"><a href="https://in.tradingview.com/script/PTURpMQA-Speedometer-Revisited/">Speedometer Revisited</a>&nbsp;</p><p id="isPasted">Speedometer Revisitedis a new way to draw custom metric speedometers and is intended to be a utility for other coders to use.</p><p>rumpypumpydumpy originally introduced the Speedometer Toolkit in version 4 of Pine Script. Since then, Pine Script has been updated to version 5, introducing some amazing new features such as polylines and chart.points. This indicator is an example of what can be done with these newer features.</p><p>The indicator starts off with a handful of functions that will be used to create the drawings. Notes are left throughout the code explaining what each line of the functions does. My goal was to make these functions user-friendly and somewhat easy to understand. I then demonstrate two examples: one speedometer with five segments and another with three.</p><p>The first example demonstrates how to visually represent the analysts' ratings for a stock using the built-in syminfo.recommendations. The speedometer is divided into five segments, each representing a different level of analyst recommendation: strong sell, sell, hold, buy, and strong buy.</p><p>Each segment is drawn using a polyline from the createSeg function, with colors assigned as follows:</p><ul><li>Red for 'Strong Sell'</li><li>Maroon for 'Sell'</li><li>Yellow for 'Hold'</li><li>Green for 'Buy'</li><li>Lime for 'Strong Buy'</li></ul><p>The script identifies the maximum value among the analyst ratings, calculates the midpoint of the corresponding segment, and draws a needle pointing to this midpoint.</p><p>The second example employs the speedometer design to display market sentiment through the put-call ratio. The put-call ratio is a gauge of investor sentiment, where values above 1 indicate a bearish sentiment (more puts being bought relative to calls), and values below 1 suggest a bullish outlook (more calls being bought relative to puts).</p><ul><li>The speedometer is divided into three segments, reflecting different ranges of the put-call ratio:</li><li>Red for a ratio greater than 1 (bearish sentiment)</li><li>Yellow for a ratio between 0.8 and 1 (neutral to bearish sentiment)</li><li>Lime for a ratio less than 0.8 (bullish sentiment)</li></ul><p>Depending on the value of the put-call ratio, the script calculates which segment the current value falls into and determines the appropriate segment number. The script calculates the midpoint of the selected segment and draws a needle pointing to this value.</p><p>Both examples show how the speedometer can be used as a visual indicator of certain market conditions, helping traders quickly recognize trends and adjust their strategies accordingly.</p>

<p>Yes. While there isn't one single "standard" indicator called the speedometer, traders frequently use the term to refer to momentum oscillators (like the RSI) or custom volumetric/tick tools designed to measure the sheer speed or velocity of price movements.</p><p>Three types of "speedometer" tools are common in trading:</p><p><strong>1. The Relative Strength Index (RSI)</strong></p><p>RSI is the most widely used momentum oscillator. Because it measures how fast and drastic recent price changes have been, traders often compare it to a car's speedometer.&nbsp;</p><p>​How it works: It ranges from 0 to 100. A high reading (e.g., above 70) means the asset is moving up very quickly and might be overbought, while a low reading (below 30) suggests rapid downward movement and potential overselling.&nbsp;</p><p><strong>​2. Custom "Speed" &amp; "Tick" Indicators</strong></p><p>Many platforms (like TradingView or MetaTrader) feature community-built gauges literally named "Speedometers". These typically measure:&nbsp;</p><ul><li>​Points per Minute (PPM): How fast the price is actively moving per minute.</li><li>Tick Speed: The number of price updates (ticks) occurring within a given time period to measure market participation and volatility.</li></ul><p>How it works: They usually feature colored zones. A "green" zone implies healthy momentum, while a "red" zone might warn that the market is overextended.&nbsp;</p><p><strong>​3. Moving Average (MA) Speedometer</strong></p><p>These track the steepness or angles of moving averages.&nbsp;</p><p>​How it works: A sharp upward angle indicates high trend velocity (speed), whereas flattening out indicates the market is losing momentum and entering consolidation.&nbsp;</p>