You will have to gauge levels yourself based on the market and chart used. Those levels were based on my own analysis and screen time of the market being traded. In the screenshot, I have a green line and red line manually applied which are my thresholds for fast vs slow. values with larger negative values represent a slower market (hence the duration between updates is longer in duration). When using the indicator, values closer to 0 indicates very fast, vs. That is why I applied a sign reversal to the values in the code. I wanted to have the values coincide with visual trend of values that are trending 'up' (faster) vs 'down' indicating slower mkts. I trade with tick charts so that is the lens that I am viewing this indicator. A fast market will have very short durations of updates with values closer to 0. A slower market will have a longer duration and therefore a larger value. The indicator takes the time difference between the the last tick update of the bar compared to the previous tick update. I wrote the following simple indicator which gives some level of quantitative visibility if the mkt is moving fast vs slow. Watching the time and sales order flow gives a sense, but what is fast now vs earlier or another time period is still subjective. However, historically that is challenging as it has been quite subjective. I find it necessary to make sure to stay out of the markets when they are 'slow' vs 'fast'.
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