I confess I was like a kid unwrapping presents on Christmas night when I was installing R2, happy as hell for finally have reversal bars available in MC and for my footprint charts.
And when I'm opening a new chart and opening it's settings my heart just stopped when I looked at the reversal bars options
I just can't figure a type of setting capable of generating a useful chart.
Something is off here!
I was trying to have a simple reversal bar that, for instance, a 3 ticks reversal, a new bar would be drawn.
Now I'm getting a resolution for each bar which is messing up my brain because... wouldn't a resolution null the concept of reversal?
How can I set a 3 tick reversal if I then am closed inside a pre-determined resolution?
Which one sets the formation of a new bar, the resolution or the reversal factor?
Look at a 3 tick reversal chart from a competitor platform.
Quite a difference, huh!
Every time we get a 3 tick reversal, it draws a new bar.
There's "no" resolution here.
Market open, starts printing the first bar and will continue to print that bar till prices reverse more than the specified tick reversal.
A bar might end up having 50 ticks range till prices finally reverse the number of ticks we specified
The number of ticks reversal is basically what sets the resolution of the bar.
Unfortunately, the way this has been set, it has no application for me
Reversal bars on MC 11 R2
- Henry MultiСharts
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- arnie
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Re: Reversal bars on MC 11 R2
You must add candlesticks and OHLC bars to the style.
Having only point and figure available will significantly restrict its usage.
Also adding invisible bar allow us to use this as a second data series and "hide" the bars
Having only point and figure available will significantly restrict its usage.
Also adding invisible bar allow us to use this as a second data series and "hide" the bars
Last edited by arnie on 19 Sep 2017, edited 2 times in total.
- arnie
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Re: Reversal bars on MC 11 R2
I need some clarifications on how is the close and open of each bar being calculated.
What we're seeing is that a bar is almost always closing on its high/low and the following bar is opening 3 ticks below/above that close.
This gives an idea of a gap, which is not true.
The above chart shows a 3 tick reversal.
If on the 3rd tick a new bar is created, one would think that the close of the prior bar would be 1 tick below of that 3rd tick.
Personally I couldn't care less about the open and close of a bar. Personally I would like to see an option in the footprint settings to make the open and close arrows invisible. But that's me.
Nevertheless, why are we seeing this behavior of the close and open bar prices?
What we're seeing is that a bar is almost always closing on its high/low and the following bar is opening 3 ticks below/above that close.
This gives an idea of a gap, which is not true.
The above chart shows a 3 tick reversal.
If on the 3rd tick a new bar is created, one would think that the close of the prior bar would be 1 tick below of that 3rd tick.
Personally I couldn't care less about the open and close of a bar. Personally I would like to see an option in the footprint settings to make the open and close arrows invisible. But that's me.
Nevertheless, why are we seeing this behavior of the close and open bar prices?
- arnie
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Re: Reversal bars on MC 11 R2
Here is a video showing the moment a new bar is printed.
https://www.screencast.com/t/aiej4GXU4hv
A new bar start to print when prices hit 4.5 and the close of the prior bar jumps from 5 to 6.
Why?
The close should be at 5 since that was what was being traded prior printing 4.5.
https://www.screencast.com/t/aiej4GXU4hv
A new bar start to print when prices hit 4.5 and the close of the prior bar jumps from 5 to 6.
Why?
The close should be at 5 since that was what was being traded prior printing 4.5.
- Henry MultiСharts
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Re: Reversal bars on MC 11 R2
Hello arnie,
Our engineers are currently analyzing the provided information.
Our engineers are currently analyzing the provided information.
- Henry MultiСharts
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Re: Reversal bars on MC 11 R2
Hello Arnie,I confess I was like a kid unwrapping presents on Christmas night when I was installing R2, happy as hell for finally have reversal bars available in MC and for my footprint charts.
And when I'm opening a new chart and opening it's settings my heart just stopped when I looked at the reversal bars options
reversal.png
I just can't figure a type of setting capable of generating a useful chart.
Something is off here!
I was trying to have a simple reversal bar that, for instance, a 3 ticks reversal, a new bar would be drawn.
Now I'm getting a resolution for each bar which is messing up my brain because... wouldn't a resolution null the concept of reversal?
How can I set a 3 tick reversal if I then am closed inside a pre-determined resolution?
Which one sets the formation of a new bar, the resolution or the reversal factor?
Look at a 3 tick reversal chart from a competitor platform.
Quite a difference, huh!
3trev.png
Every time we get a 3 tick reversal, it draws a new bar.
There's "no" resolution here.
Market open, starts printing the first bar and will continue to print that bar till prices reverse more than the specified tick reversal.
A bar might end up having 50 ticks range till prices finally reverse the number of ticks we specified
The number of ticks reversal is basically what sets the resolution of the bar.
Unfortunately, the way this has been set, it has no application for me
In order to get the desired Reversal chart please configure the settings the following way:
1 tick Resolution
1 point Box Size
3 Reversal
Input: Close
Such chart will be plotted according to the logic you have described above.
We have introduced various options for this chart type to make it flexible and go in line with the Custom Resolutions feature.
Resolution selector is present to give access to Reversal bars to those who have more minute data than tick data, or only minute data.
- Henry MultiСharts
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Re: Reversal bars on MC 11 R2
Please send me the source data for 13, 14, 15 September 2017 (ZNZ7) for replicating it on our end.
But I'm finding some weird bars
reversal02.png
- Henry MultiСharts
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Re: Reversal bars on MC 11 R2
Your suggestion has been forwarded to the management.You must add candlesticks and OHLC bars to the style.
Having only point and figure available will significantly restrict its usage.
Also adding invisible bar allow us to use this as a second data series and "hide" the bars
setting.png
- Henry MultiСharts
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Re: Reversal bars on MC 11 R2
I need some clarifications on how is the close and open of each bar being calculated.
close_open.png
What we're seeing is that a bar is almost always closing on its high/low and the following bar is opening 3 ticks below/above that close.
This gives an idea of a gap, which is not true.
The above chart shows a 3 tick reversal.
If on the 3rd tick a new bar is created, one would think that the close of the prior bar would be 1 tick below of that 3rd tick.
Personally I couldn't care less about the open and close of a bar. Personally I would like to see an option in the footprint settings to make the open and close arrows invisible. But that's me.
Nevertheless, why are we seeing this behavior of the close and open bar prices?
This issue has been confirmed. The fix is targeted to MultiCharts 11 Release 3.Here is a video showing the moment a new bar is printed.
https://www.screencast.com/t/aiej4GXU4hv
A new bar start to print when prices hit 4.5 and the close of the prior bar jumps from 5 to 6.
Why?The close should be at 5 since that was what was being traded prior printing 4.5.
- Henry MultiСharts
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Re: Reversal bars on MC 11 R2
Can't locate any issues here. Open of a new bar is 3 reversals from the Low of the previous bar.Now that I'm looking at this real time, here's another issue with these bars.
sec_bar.png
- Henry MultiСharts
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Re: Reversal bars on MC 11 R2
First bar is built this way as you have "Break on Session" enabled. We are not getting the same 3rd and 4th bars, do you have session break there? Please send me a screenshot of the sessions you are using on this chart.Here's another bar issue.
bar_miss.png
- arnie
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Re: Reversal bars on MC 11 R2
Those "weird" bars are the result of economic news release.Please send me the source data for 13, 14, 15 September 2017 (ZNZ7) for replicating it on our end.
But I'm finding some weird bars
reversal02.png
Every time we have a fast reaction to news, we get those bars, prices simply jump 3 or more ticks which produces those bars.
No problem here.
- arnie
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Re: Reversal bars on MC 11 R2
This is my session template.First bar is built this way as you have "Break on Session" enabled. We are not getting the same 3rd and 4th bars, do you have session break there? Please send me a screenshot of the sessions you are using on this chart.Here's another bar issue.
bar_miss.png
It divides the day in its 3 sessions.
Overnight, regular trading (formally known as pit session) hours and those last 2 hours of the day that no one knows what to call it
There's a session break at 720, when the regular trading hours start.
- Henry MultiСharts
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Re: Reversal bars on MC 11 R2
Your session template confirms our assumption. When "Break on Session" is enabled each session (even without Session End) makes the bars "restart" like on session break. So if you do not want that - either change your session template to avoid breaks or disable the "Break on Session" option.This is my session template.First bar is built this way as you have "Break on Session" enabled. We are not getting the same 3rd and 4th bars, do you have session break there? Please send me a screenshot of the sessions you are using on this chart.Here's another bar issue.
bar_miss.png
It divides the day in its 3 sessions.
Overnight, regular trading (formally known as pit session) hours and those last 2 hours of the day that no one knows what to call it
sessiontemplate.png
There's a session break at 720, when the regular trading hours start.