Momentum Bar Chart

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Fxdrive
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Momentum Bar Chart

Postby Fxdrive » 28 Jul 2011

Hi,

Are there any plans for a momentum bar chart like you get in TS http://help.TS.com/08_08/trad ... _chart.htm ?

Thanks

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JoshM
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Re: Momentum Bar Chart

Postby JoshM » 28 Jul 2011

Hi Fxdrive,

Wouldn't this be the same as the Point bars in MC? According to the 'Momentum bars' definition from TS this seems to be the case (see attached screenshot).
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pointBarExample.png
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sptrader
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Re: Momentum Bar Chart

Postby sptrader » 28 Jul 2011

I'd like to see Renko "Median" bars as well as several other bar types.
I'd also like to see an "Easylanguage" custom method, where we could create our own bar types...

Fxdrive
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Re: Momentum Bar Chart

Postby Fxdrive » 28 Jul 2011

JoshM wrote:Hi Fxdrive,

Wouldn't this be the same as the Point bars in MC? According to the 'Momentum bars' definition from TS this seems to be the case (see attached screenshot).


I don't think they are the same as TS has both 'Momentum Bars' and 'Point and Figure' Bars, however, they do look similar.

Thanks.

tekram
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Re: Momentum Bar Chart

Postby tekram » 28 Jul 2011

JoshM was showing a "Point" chart which is a MC range chart. He wasn't talking about Point and Figure Chart. The difference between a range chart and a momentum chart is the way the range is calculated, the former requires the range to be met, the later requires the range to be exceeded.

{https://www.TS.com/Discussions/Topic.aspx?Topic_ID=96971
From the help file:

Range Bars look like standard bars, but are different in four ways:

1. Range Bars are all equal in height, based on the Range specified by the user.
2. The open of each Range Bar is always equal to the close of the previous Range Bar. This
is the primary difference between Range Bar and Momentum Bar charts.
3. Range Bar closes are always at the top or bottom of the bar.
4. Range Bars charts have no gaps. Some believe this actually helps aleviate indicator
skewing.

Charting platforms use one of two methodologies when creating a "range bar" chart:
A new bar is created when the specified range has been met, not exceeded, and so the
open of the bar is the same as the close of the previous bar.
A new bar is created only when the specified range has been exceeded, and so the open of
the bar is one tick above/below the close of the previous bar.

The second methodology is available in TS as Momentum bars. TS Range
bar charts are built using the first methodology. When the bars are built according to
this logic, it is possible for bar formations such as you have indicated to result. If
you do not wish to see such bar formations, you should use Momentum bar charts.
}
Image
Fxdrive wrote:
JoshM wrote:Hi Fxdrive,

Wouldn't this be the same as the Point bars in MC? According to the 'Momentum bars' definition from TS this seems to be the case (see attached screenshot).


I don't think they are the same as TS has both 'Momentum Bars' and 'Point and Figure' Bars, however, they do look similar.

Thanks.
Attachments
RangevsMomentum2011-07-28_162104.png
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Fxdrive
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Re: Momentum Bar Chart

Postby Fxdrive » 29 Jul 2011

Thanks for the detailed explanation but how do you get a "Point" chart in MC? I don't see them in my list.

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Re: Momentum Bar Chart

Postby SP » 29 Jul 2011

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20110728080512MOMENTUMBARS.ELD
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sptrader
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Re: Momentum Bar Chart

Postby sptrader » 29 Jul 2011

Fxdrive wrote:Thanks for the detailed explanation but how do you get a "Point" chart in MC? I don't see them in my list.



** Point bars - see attached
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Point bars.jpg
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