In today's video, I'm going to be going over and discussing

the new Omni-Timer, which is this a little guy right here.

Now the Omni-Timer can be used a couple of different ways.

Right now, I've currently got the Omni-Timer set up with our

Mean Renko Bars.

Now let's go ahead and let's take a look and see how we

need to set that up.

For any non-time based bar, it needs to be set to relative to

average time setting right here.

Now it will also do count up and count down-- we'll get to

that later-- with different types of bars.

But for this case, we need to have relative to average time

for any non-time based bars such as Renkos or range bars.

Now right now, I've got my time look back set to 10 bars,

which is what this little speedometer is actually based

on right here.

I've got mine set to a period of 10 so it's going to look

back 10 bars and it's going to calculate all the average

times, and then once we've reached the zero mark, then

that means that it's taking longer than maybe we want it

to be taking, or the market has maybe slowed down.

I actually worked with the programmer on this tool for

one specific reason.

And I'm at the firm belief that the longer I stay in a

trade, the more apt it is to fall over on me or to reach

back up and bite me in a case of, say, a short trade.

So looking at this right here, we can see that the market's

moving pretty fast.

This current bar--

and it's a Mean Renko Bar--

is 22 seconds old, and it's just going to count up.

This will tell me exactly how old each bar is.

Now if I run into a six range bar in this case, which is

what I'm using here with the Hawk Micro-Scalper, if I run

into a six or a ten minute bar, well then maybe it's too

slow for me to be scalping and I need to

just sit on my hands.

But the cool thing about this tool is rather than having a

timer somewhere located down here and then maybe prices

trading up here, I've actually got my time set right here and

my gauge is actually telling me how fast

the market is moving.

So let's go ahead and let's take a look at some

other bars as well.

Let's go ahead and let's compare the Omni-Timer with

the bar timer that comes with a standard

Ninja Trader platform.

Now you see that the times are the same, and there's nothing

wrong with a Ninja Trader bar timer, however, we're trying

to look up here and we want to see when this

bar is going to close.

So our eyes are going back and forth, back and

forth, back and forth.

Why do that when all you've got to do is just slide the

Omni-Timer up and there everything is right there on

the hard right edge right where it needs to be.

Let's keep an eye on this and you'll see our gauge as we get

closer and closer to this bar closing, the gauge is going to

start getting green.

Kind of a cool little feature there of the Omni-Timer.

And again, it keeps it right up here in this area where we

need to see it.

We're not looking back and forth, back and forth like we

like we typically would just using the standard bar timer

offered by Ninja Trader.

Again, nothing wrong with this bar timer.

It works the same.

It's just in a different location.

Let's go ahead and let's take a look at some

range bars as well.

Now we're looking at range bars and, of course, there

really is no timer for range bars.

So let's go ahead and let's remove that.

And we can see here that each bar is actually happening

pretty quickly here.

So right now this current bar that we're on

is 13 seconds old.

And again, we've got Omni-Timer which we can float

wherever we want on this chart.

And we can get it as close to where we want it to be.

I mean, if we want it to be over here in this area, maybe

up here, wherever you want to do it.

This thing floats anywhere and it doesn't interfere with your

charts or your indicators.

This current range bars is 37 seconds, 38, 39.

Oh, we just started a new one.

All right.

So now you see how and that it does work with range bars.

Once again, maybe we're looking to take a sure here,

trying to see how long each bar is taking.

We can move our timer down here right in this area where

it's nice and easy for us to see how old each bar is.

Now we're going to go ahead we're going to take a look at

a tick chart.

Now with the tick chart, we can do a couple of different

things with the Omni-Timer.

We can either time how long it takes to make each bar, or we

can actually do a countdown, ticks remaining.

Also, we're seeing a count down right here.

This is 150 tick chart.

We can also count up.

So right now we've got 67, there's 68 ticks.

73.

And again, that convenience of having everything right here

where you need it.

So remember, not only will it count up the ticks, it'll also

count the ticks down.

Why'd you want to do this, I don't know,

but to each his own.

If you wanted to do relative to average time, it'll tell

you how old each bar is.

One thing that I failed to point out on the time-based

bars is that you can count up and count down as well.

And again, I'm going to use Ninja Trader's time remaining

bar timer indicator as a point of reference to show you.

Right now, we're currently counting down.

We see that we're matching up nicely.

Again, there's nothing wrong with these indicators.

This is merely for convenience.

It saves you, what I like to call, eye time, that time it

takes to look from up here where your bars are down to

the bottom of the chart.

Now the other thing is, rather than counting down like we see

right here, we can also, if we like, we can count up.

So you'll see that we're counting up, whereas were

counting down down here.

Really the choice is yours.

The same place where you decide to put your Omni-Timer.

All right.

Well I hope that you have found this video to be helpful

and informative.

If you have any questions whatsoever, please contact me

at ray@RealityFuturesTrading.com,

or any one of the team members at Indicator Warehouse.

Thanks and have yourself a good day.