Date/Time: Sun, 29 May 2022 02:57:57 +0000
[User Discussion] - P&F vs Number Bars vs Reversal Bars
View Count: 1621
|George - Posts: 60|
First, I know SC is very busy and doing a great job, as evidenced by all the constant improvements. It is obvious SC likes getting things right. So, that being stated, I hope these observations/suggestions will be considered.
Second, if I am formatting something wrong or not understanding something with any of these studies, someone please correct me.
For continuous price flow P&F, set at the minimum tick amount, and any reversal amount is accurate. It catches every reversal to the tick and it starts a new column, displaying the price flow accurately.
Number Bars and Reversal Bars in ticks are not accurate. They form bars which include price retracement after a reversal has occurred, in same bar, not displaying price flow accurately.
None of these display the accurate volume combined with the accurate price flow.
Number Bars accurately displays volume at each tick level within each bar and the total volume for each bar.
To see both price and volume displaying the selling and buying waves accurately, a 1 tick chart with the zigzag study does it right. The problem is not enough price action can be displayed on a monitor.
So, ideally it would be better to have a P&F chart or Number Bar chart that can condense these price waves, so that more price action can be scene on a monitor.
The accurate volume from the zigzag on the tick chart cannot be overlayed on the P&F, because the TIME cannot be synchronized. The P&F uses the TIME that the reversal occurs, not the TIME that the HIGHS and LOWS are made as the tick chart/zigzag does.
For the P&F, only accumulate the volume for a DOWN column from high point of an UP column to the low point of the following DOWN column and the opposite for an UP column or use the TIME that the HIGHS and LOWS are made, instead of the TIME that it has reversed enough to start a new column, like the zigzag study does.
If the P&F chart is formatted to display the P&F OHLC bars, the LAST price is always the HIGH of the UP column and the LOW of the DOWN column.
The OPEN price on the next column is always the price that the bar before it reversed and that is the TIME that is used.
So, the difference between the LAST prices is always accurate, but the TIMES are not and volumes are not.
For the Number Bars, start the next column immediately after the HIGH or LOW is made, which would display a P&F chart, but having the accurate volume of the Number Bars study at each price level and the cumulative total at the bottom of each bar, like it does now.
If example charts of what was stated are needed, they can be provided.
Sierra Chart Engineering - Posts: 102918
We are not understanding this.
Both Point and Figure charts and Numbers Bars do work accurately as they are designed. Especially Reversal bar charts. Those work very accurately as designed.
Maybe you do not have tick by tick data in the Intraday data file and that is causing a problem. Refer to this page:
This is not something we can spend further time on.
Sierra Chart Support - Engineering Level
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