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Point-O counter
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Created: by tellytub Attachments:0

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Point-O counter

  #1 (permalink)
Elite Member
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tellytub's Avatar
 
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Point-O counter

Hi there

Stupid question, and you prob will say it cant be done, but with tick/range bars you can have a tick/range counter. Can one be created for Point-O?

Thanks

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  #2 (permalink)
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you should be able to modify the code of range bar counter to work with point-o bars.

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  #3 (permalink)
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Are you sure? I always thought it was like a renko? Hard to tell when you will get a new bar

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  #4 (permalink)
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I searched the net for Point-O and it came back to here.

What is Point-O?

Would you be kind enough to post a screen shot of Point-O?

Thanking you in advance.

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  #5 (permalink)
Market Wizard
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TheRumpledOne View Post
I searched the net for Point-O and it came back to here.

What is Point-O?

Would you be kind enough to post a screen shot of Point-O?

Thanking you in advance.


I think they are referring to this:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


It is found in the downloads section of futures.io (formerly BMT)
https://futures.io/free_downloads/ninjatrader/misc/75-download.html?view

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  #6 (permalink)
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Thats the one TRO, and thanks David for posting the image

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  #7 (permalink)
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yeah,

point-o creates a new bar whenever you move x amount of ticks away from the open, since the next bars open is always the same distance away from the previous one they do look a bit like renko

standard range bars create a new bar whenever you move more than x ticks below the high or x ticks above the low

because of that you can have longer tails with point-o, for instance if you use 8 point-o bars, once it moves up 7 ticks it will either close on the next uptick or it must move down 15 ticks to close in the opposite direction. If you have the same scenario with range bars, after it moves up 7 ticks, it would only have to move back down by 9 ticks to create a new bar.

point-o bars are far superior IMO (or MedianRenko bars by roonius which are similar but use median instead of open).


tellytub View Post
Are you sure? I always thought it was like a renko? Hard to tell when you will get a new bar


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