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Help writing Key Reversal Bar Indicator. Rate this Topic:
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ChrisBellis
Posted : Monday, February 29, 2016 10:40:29 AM
Gold Customer Gold Customer

Joined: 10/17/2006
Posts: 58

Hi

Can a trainer please help in the writing of a Key Reversal Bar indicator.

When a bar closes above the close of the prior bar and it's low has not pierced the close of that prior bar, i would like TC to highlight that prior bar on my chart. I would also like it to do that for key reversal bars where the following bar closes < the prior bar.

Is this possible and if so can yo uplease help. I have searched the forums for related previous post and not found anything to help.

Thank in advance

Chris

ChrisBellis
Posted : Monday, February 29, 2016 11:36:13 AM
Gold Customer Gold Customer

Joined: 10/17/2006
Posts: 58

To Clarify, i would like TC to highlight every bar that meets that criteria, which of course would highlight bars found in the course of a price swing.

Thank you.

Bruce_L
Posted : Monday, February 29, 2016 4:01:48 PM


Worden Trainer

Joined: 10/7/2004
Posts: 60,672

A Condition Formula for the bar closing above the close of the prior bar with the low at or above the close of the prior bar can be written as follows.

C > C1 AND L >= C1

The reverse of this would be as follows.

C < C1 AND H <= C1

A Condition Formula where the previous bar met the above conditions but the current bar closes below the low of the previous bar can be written as follows.

C < L1 AND C1 > C2 AND L1 >= C2

The reverse of this would be as follows.

C > H1 AND C1 < C2 AND H2 <= C2

You can't change the colors of the bars based on the results of a Condition Formula. You could plot a Dot at say the previous close using the first Condition Formula by using the following Formula in a Custom PCF Indicator with the Plot Style set to Dot.

C1 / ABS(C > C1 AND L >= C1)

A dot for the reverse direction would use the following Formula in the Custom PCF Indicator.

C1 / ABS(C < C1 AND H <= C1)

And you could use the following Formula in a Custom PCF Indicator with the Plot Style set to Dot to plot a dot at the low of the previous bar when the second Condition Formula is true.

L1 / ABS(C < L1 AND C1 > C2 AND L1 >= C2)

A dot for the reverse direction would use the following Formula in the Custom PCF Indicator.

H1 / ABS(C > H1 AND C1 < C2 AND H1 <= C2)



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
ChrisBellis
Posted : Tuesday, March 01, 2016 5:04:00 AM
Gold Customer Gold Customer

Joined: 10/17/2006
Posts: 58

Hi Bruce

Thank you for your prompt, complete and extremely helpful response.

You really are a star and a huge asset to TC.

Cheers

Chris

Brown7477
Posted : Saturday, August 12, 2017 2:56:00 PM
Gold Customer Gold Customer

Joined: 7/28/2017
Posts: 4

How do I create and apply this?

I would like to highlight a bar if it meets the following criteria:

Bullish:  Highlight with a green dot below any bar that Has a lower low than the previous bar and Opens and Closes in the top 1/2 of the current bar. Or can open in the Bottom 1/2 and close in the Top 1/2 of current bar. Color of bar is not important as long as it closes in the Top 1/2..

 

Bearish:  Highlight with a red dot above any bar that Has a higher high than the previous bar and Opens and Closes in the lower 1/2 of the current bar. Or can open in the Top 1/2 and close in the Lower 1/2 of current bar. Color of bar is not important as long as it closes in the Lower 1/2..

https://www.screencast.com/t/MERJygPJkHA5  (screenshot)

I am new to TC2000 so I am having a difficult time figuring out to create and apply any custom indicators.

 

Thanks in advance

 

Bruce_L
Posted : Tuesday, August 15, 2017 11:47:07 AM


Worden Trainer

Joined: 10/7/2004
Posts: 60,672

Please try ovelaying the following Custom PC Indicator in the same pane and scale as price using the Dot Plot style set to green for your bullish dots.

IIF(L < L1 AND H > L AND STOC1 >= 50, L, 1 / 0)

Please try overlaying the following Custom PC Indicator in the same pane and scale as price using the Dot Plot style set to red for your bearish dots.

IIF(H > H1 AND H > L AND STOC1 <= 50, H, 1 / 0)



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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