Create paintbar of Key reversal bar

[petvett]

There are 2 indicators that show Key Reversal Bars but they show them in separate indicator windows. How can I show them as a paint bar on the price chart when they occur. If there is a Key reversal bar down say it would paint that bar orange and for a Key reversal bar up say it would paint purple. With the paintbar I would not need the seperate indicator windows.
Thanks

[Harry]

There are 2 indicators that show Key Reversal Bars but they show them in separate indicator windows. How can I show them as a paint bar on the price chart when they occur. If there is a Key reversal bar down say it would paint that bar orange and for a Key reversal bar up say it would paint purple. With the paintbar I would not need the seperate indicator windows.
Thanks

A key reversal alone will not tell you a lot. The key reversal gets interesting

- if you eliminate all key reversals with an active trading range
- if you use a second indicator to determine overbought and oversold conditions based on the price volume distribution of the current day

What is your definition of a key reversal?

[NinjaTrader_ChelseaB]

Hello petvett,

Thanks for your post.

You can change the color of a bar based on conditions by setting the BarColor variable.

For example:

if (SMA(19)[0] < SMA(20)[0])
{
BarColor = Color.Green;
}

Below is a link to the help guide on BarColor.
http://www.ninjatrader.com/support/h...7/barcolor.htm

If you would like assistance getting the values from the indicators, please let me know the names of the indicators you are working with.

[petvett]

Do I do this by setting up a new indicator called bar color? I could not find where to choose a variable bar color. I am looking at the indicator called Key Reversal bar up and Key reversal bar down. If those conditions are met I would like that bar to be a different color. Thanks for your help.

[petvett]

Harry there is an indicator listed in the package called Key reversal Bar. It is when price makes a new high (or low) and then reverses and closes in the bottom 25% of that bar (closes in the top 25%).
Thanks
Ron

[NinjaTrader_ChelseaB]

Hello,

Try adding a line similar to this to the end of the OnBarUpdate() method.

if (/* conditions here */)
{
BarColor = Color.Green;
}

Where it says /* conditions here */ replace this with the conditions of your choosing.

To do this you will need to make a copy of the indicator with a different name. The original indicator will be locked from editing.

To copy the script:

• Click Tools -> Edit NinjaScript -> select KeyReversalUp -> click OK
• Right-click the code in the code editor window -> select Save As...
• Give the new script a unique name such as KeyReversalUpModified -> click OK

[Harry]

Harry there is an indicator listed in the package called Key reversal Bar. It is when price makes a new high (or low) and then reverses and closes in the bottom 25% of that bar (closes in the top 25%).
Thanks
Ron

I don'T know which indicator you talk about. NinjaTrader comes with two indicators called KeyReversalUp and KeyReversalDown, and there is no 25% rule that can be derived from the code.

Below is a sample chart, arbitrarily chosen. I do not think that this is really a good selection of key reversals. Out of 9 identified reversal bars, a single one is valid, 6 lack any significance, because they are narrow range bars and 2 just show the resumption of an existing trend, which is not a reversal.

[Harry]

Here is a litte chart with a few filtered key reversals. The reversals are shown as paintbars. There is no additional plot. The R is only plotted, once the high (key reversal up) or the low (key reversal down) has been taken out, which is used to confirm the reversal.

A 2-bar-reversal, which is also known as a railway (one track down, another track up), is a reversal pattern derived from two bars. If you paint the composite candle built from two bars, you will see the one bar pattern. Therefore the railway is just a reversal pattern on a higher timeframe, that is a 30 min timeframe for a 15 minute chart.

[NinjaTrader_ChelseaB]

Hi Harry,

I wanted to let you know I helped petvett with his code directly.

Thank you for your insights here.

[123tangerine]

Me too

Hello Chelsea, I too have been trying to color a bar based on the Key Reversal Indicator. Is it possible for you to pass on the code you helped Pet With. Thanks

[NinjaTrader_ChelseaB]

Hello 123tangerine,

The script we worked on was directly on petvett's computer.

However, I will request that he share his code with you in this forum thread.

[petvett]

Key reversal paintbar

Here is the script Chelsea helped me with for key reversal paint bar down:

[petvett]

Key reversal paintbars

Sorry. I did not know how to export the scripts. Here they are. Thanks

[123tangerine]

Thank you very much Sir!

[cognis0]

I’m also trying to show key reversal bars. I like to use:-

Sell reversal bar: (H>=H[-1],C<(L+(H-L)/2.5)
Buy reversal bar: (L<=L[-1],C>(H-(H-L)/2.5))

I thought I would find this as an option in the candlestick pattern indicator, but not that I can see.

How can I paint the bars in this way?

Thanks