Tick Reversal bars type is a simple volatility-based bars type. The building of such bars is based on a similar concept as the Point and Figure charts but much easier in customization — it has only one parameter. Thus, such bars do not have time component. How they are formed is dependent solely on price action. For example, a new bar is started only if price travels more than specified amount of ticks in the opposite direction. Seeing these plot as candles with the ability to have full volume information does wonders for cleaning up price action.
Very interested in having these too, can’t switch from sierra without them.
I use them for the footprint chart, which I guess because of copyright every platform calls a weird name.
2 Likes
It’s basically just point and figure charts shown as a candle. I like how they show when a market is really pressing up or down, because you get no new bar for a while.
1 Like
I also require this same feature. Have Bid-ask (footprint) chart show the candle via Point and figure format (ie reversal bar charts). This should be a simple update as the reversal bars are simply point & figure shown in bar format. Tradovate, please implement asap. Thank you.
2 Likes
Yea, for some reason their point and figure charts are tied to time still. It’s an odd combination and seems to create incorrect plotting because it “waits for the time period to close” before locking in the PnF range.
2 Likes
I noticed this issue as well. I tried to run a 1 tick box with 6 tick reversal for ES. I used the 1 tick chart for accuracy and noticed it plotted a ton of data.
Agreed. Please add a reversal bar that’s not tied to time. It’d be great if I can use a reversal chart with a bid and ask volume bars
2 Likes
bump! I agree having a point and figure type of plot with the functionality of the bid/ask chart would be great (right now setting up range charts like that achieves a similiar sort of result, but not as clean the PF chart idea which would make more efficient use of screen space.