This is my first shot at a custom bar type, so please report any issues in the discussion thread: https://nexusfi.com/elite-circle/26005-reversal-bars.html
Bar Logic
-When a new bar is formed, price must move "Direction Size" ticks to establish a bar direction.
-Once a direction is established, if price pulls back "Reversal Size" ticks, a new bar is formed.
-The previous bar does not include the final reversal tick. The final reversal tick forms a new bar.
-The opens and closes of bars are actual ticks. No fake opens or closes.
If you prefer the version that requires Reversal Size to be breached, change:
to:
Log:
- 10/27/13 : Fixed code causing issues in market replay. Thanks @devdas.
Category The Elite Circle
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