Support Board
Date/Time: Tue, 26 Nov 2024 08:27:08 +0000
For Reversal Bars - identifying the UP bar and the DOWN bar
View Count: 819
| [2023-01-30 04:16:11] |
| deltaFlow - Posts: 12 |
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For a point & figure chart (on which reversal charts are based) the UP bar is indicated by a sequence of letter "X" and the DOWN bar by a sequence of letter "O". Therefore, on a P&F chart it is easy to see the kind of bar by just looking at the bar itself? However, this is not the case with reversal bars when applied to candlesticks or Numbers bars. It's very hard to visualize the reversal direction when adjacent bars do not exceed the reversal amount by much and the user has lost track of which bar was what. I use reversal bars in the Numbers (footprint) study. Is there any way to graphically indicate whether the current bar is an UP bar or DOWN bar? |
| [2023-01-30 18:20:29] |
| John - SC Support - Posts: 36286 |
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Use the Open/Close Marker Style to place a marker next to one of your columns. You can then color the boxes for an Up/Down bar. Refer to the information starting here: Numbers Bars: Open and Close Marker Style For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2023-01-31 00:48:18] |
| deltaFlow - Posts: 12 |
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Sorry John, I think there's a misunderstanding here. I was not referring to "Up Bar" where close > open or "Down Bar" where close < open. Let me rephrase the problem. As per SC documentation (in Chart Settings >> Bar Period >> Intraday Chart Bar Period >> Bar Period Type >> Reversal Bar) when the reversal by the designated amount occurs from the high of one bar, then the next bar starts and for this next bar, reversal means a move away from bar's low by the reversal amount. Then for the third bar the reversal means a move away from the high, and so forth (alternating). The problem is that when a bar's range is twice (or close to twice) the reversal amount, it is very hard for the eye to distinguish whether it was a reversal from the high or from the low. Therefore, you can't easily tell the direction of the reversal, unless the next bar continues the reversal direction (which doesn't always happen). Therefore, could you have some sort of visual indicator that shows whether SC was tracking the reversal from a bar's high or from its low when using a Numbers study or a regular bar chart? (I notice there is a study called "Point Figure Chart Reversal Marker" but there is no documentation on it and it seems to do nothing on my reversal Numbers charts.) Please let me know if I have not clarified the issue. |
| [2023-01-31 14:59:27] |
| John - SC Support - Posts: 36286 |
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There is not a study that does what you are looking for, but the Point Figure Chart Reversal Marker does have the concept, although right now it is set to only work on Point and Figure charts. You could modify this study to work for a Reversal bar. You will find the study in the Studies2.cpp file in the ACS_Source folder under your main Sierra Chart installation folder. Refer to the following for how to build a study: How to Build an Advanced Custom Study from Source Code For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2023-12-11 16:41:55] |
| Giamsterdam - Posts: 33 |
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@deltaflow. Did you find a solution to this?
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| [2023-12-11 18:29:06] |
| deltaFlow - Posts: 12 |
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@Giamsterdam4x: No, I tried, but this particular ACSIL work needed too much of my time to work it out properly.
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