Reversal Bar Feature Add

[igor.s]

Would you consider to add a projected price where the reversal takes place? Say, Range and Renko bar shows that and it is quite helpful feature for visualizing where the bar would close and what pattern is unfolding. I use it a lot. The reversal bar would have a dynamic moving projected price next to the incomplete bar, if low or high is being developed. It gives a hint at what level the reversal would occur and helps the same way to visualize the price action.

Thoughts?

 

[MotiveWave_Jason]

Hello Igor,

Sorry for the late reply, this was added to the feature request per our email conversation.

Thank you for the feedback.

 

[igor.s]

Thank you!

 

[Johnedoe]

I have been unable to find any definition of these reversal bars... looked at them on a chart and really could not see anything of significance.
Would somebody please explain theses bars?
Thank's for the help.

 

[Johnedoe]

Still waiting for a description on these things..................

 

[Johnedoe]

Still waiting............

 

[igor.s]

A similar to P&F with a different look and feel. If you trade rotational markets like e-mini S&P futures you would see a difference compare to regular linear bars. Reversal bars are built from ticks by default. They are helpful to see the market structure and identify support/resistance levels.

 

[Johnedoe]

Thank you for the reply...
I will take a look at them once the market reopens and see if I can find any advantage....
I trade Renko and like that bar really well it actually has made me a better trader.

 

[igor.s]

Renko is a great technique and the MW offers multiple types out of the box.

 

[Johnedoe]

Are you scalping or trying to catch trends using Renko?

I am a scalper, I check the volume and ATR then set my bricks to go for 2 points per trade.

Still trying to figure out how the reversal bars might be used in all this. I just have to see how they paint .... I still haven't found any expiation of how the bar is supposed to actually function or what the math is behind them.

 

[igor.s]

You can always backtest reversal bars. No need to wait for the market to open.
I do not scalp. In the current volatility regime there is plenty of opportunities for large swings intraday.

 

[Johnedoe]

I have found the backtesting to be less than reliable....