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Direct MessagesDate/Time: Sun, 19 May 2024 22:31:54 +0000
Post From: Reversal Bars
| [2016-01-09 00:57:08] |
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What is the objective of using Xs and Os? It seems apparent, that this concept is from the days of using graph paper and someone decided to fill a rectangle on the graph paper with an X or O depending upon the market movement. So from our perspective, we would want to know how we could present the data in such a way without having to rely upon these. Reversal bars do different construction from Point and Figure bars. They are similar but different and because of the differences, Xs and Os are not always correct. It should be apparent just by looking at a bar, whether the bar is up or down and whether it is up or down relative to the prior bar. This can be determined from normal OHLC bars and candlestick bars. As long as you can see the opening and closing prices. So it seems like the only other piece of information obtained from Xs and Os is the fact that each letter represents a box which is often the tick size. So we could create a new bar type that consists of boxes and also has some form of marker at the open and close. It seems though that would convey all of the necessary information and not have any appearance issues related to scaling. Update: We can also add Point and Figures Bars as a basic bar type within Chart Settings rather than a study. This makes it more accurate. We will do that. We will also experiment with this new bar type that we described above. You can have a look and see what you think. The last two items are a much more solid and definite solution. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2016-01-09 01:06:19
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