Reversal Bar Type

August 26th, 2010, 01:15 PM

Hi,

First post in futures.io (formerly BMT) forum. It has to start somewhere

I am looking for a reversal bar type ninjascript but couldn't find it here. Your help is appreciated.

Also, I wish to modify the script so the reversal algorithm won't start until the price levels of the bar equal to or exceed certain tick value. How can I do it?

Thanks!

Kind Regards,
Lis

August 26th, 2010, 06:51 PM

monolisa

Hi,

First post in futures.io (formerly BMT) forum. It has to start somewhere

I am looking for a reversal bar type ninjascript but couldn't find it here. Your help is appreciated.

Also, I wish to modify the script so the reversal algorithm won't start until the price levels of the bar equal to or exceed certain tick value. How can I do it?

Thanks!

Kind Regards,
Lis

Hi Lis,

Welcome to Big Mike's forum!

Depends on the definitions. For example you can define

Reversal Bar Up

Open and close �s located in the upper third of the range, should be larger than the average true range of the last 14 bars.

Reversal Bar Down

Open and close is located in the lower third of the range, range should be larger than the average true range of the last 14 bars.

Then code your indicator. Code suggested (not tested):

Code

 
protected override void OnBarUpdate()
{
if
(CurrentBar < 14)
return;
 
//Reversal Bar Up
if (Open[0]  > 0.334*Low[0]+ 0.666*High[0] && Close[0] > 0.334*Low[1]+ 0.666*High[0] && Range()[0]>ATR(14)[1])
BarColor = Color.Yellow;
 
//Reversal down
else if (Open[0] < 0.666*Low[0]+ 0.334*High[0] && Close[0] < 0.666*Low[0]+ 0.334*High[0] && Range()[0]>ATR(14)[1]
BarColor = Color.Orange;
}

Plots reversal bars yellow or orange.

August 27th, 2010, 12:39 AM

Hi Fat Tails,

Thanks for the codes. Actually what I am looking for is a bar type that create a new bar when price reverses a specific tick amount from the extreme (high/low). It's similar to Point and Figure bar type without the Xs and Os and showing candlestick bar instead.

Would anyone please help me?

Thanks.

Kind Regards,
Lis

August 27th, 2010, 01:47 AM

monolisa

Hi Fat Tails,

Thanks for the codes. Actually what I am looking for is a bar type that create a new bar when price reverses a specific tick amount from the extreme (high/low). It's similar to Point and Figure bar type without the Xs and Os and showing candlestick bar instead.

Would anyone please help me?

Thanks.

Kind Regards,
Lis

Did you try range or Kagi bars?

August 27th, 2010, 03:25 AM

Yes, I tried both. I think the bar type I am looking for is like a combination of Range and Kagi - Range has to be at least y price levels before Kagi algorithm comes into play.

August 27th, 2010, 06:17 AM

monolisa

Yes, I tried both. I think the bar type I am looking for is like a combination of Range and Kagi - Range has to be at least y price levels before Kagi algorithm comes into play.

Could you give a more detailed definition?

August 27th, 2010, 07:43 AM

hi lis,

I think you're looking for this:

Quick and Dirty Ninja [AUTOLINK]PnF[/AUTOLINK] Bars, version 2|Move the Markets

the creator is richard from move the markets.

August 27th, 2010, 09:04 AM

Hi Silvester17,

Thanks. It's close to what I need but still lacking the requirement that the reversal algo do not start till the bar is x tick high.

I just wonder where I should put such requirement in the codes.

BTW, if you import the bar type into NT7, does it go to the indicator folder or type folder?

Thanks.

Kind Regards,
Lis

August 27th, 2010, 09:16 AM

monolisa

Hi Silvester17,

Thanks. It's close to what I need but still lacking the requirement that the reversal algo do not start till the bar is x tick high.

I just wonder where I should put such requirement in the codes.

BTW, if you import the bar type into NT7, does it go to the indicator folder or type folder?

Thanks.

Kind Regards,
Lis

lis,

not sure, but believe it's only working for nt 6.5.

when imported, you'll find the PnF bars under interval settings (where the range, tick, min bars are located). again this is for nt 6.5, not nt 7.

Reversal Bar Type

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Reversal Bar Type