ReversalBars

The installation of the Technical Analysis Package is required in order to access this indicator.

Description

The Reversal Bars indicator helps the trader find reversal bars within a chart. The indicator has a plot, and outputs the value 1 for long reversal bars, -1 for short reversal bars and 0 when there are none present. Traders can make several adjustments such as colors, arrows that are shown, etc.

Interpretation

The interpretation of reversal bars is described in M. Voight’s book.

Usage

Reversalbars()
Reversalbars(IDataSeries inSeries)
Reversalbars()[int barsAgo]
Reversalbars(IDataSeries inSeries)[int barsAgo]
Reversalbars(IDataSeries inSeries)
Reversalbars(IDataSeries inSeries)[int barsAgo]

Return value

double

1 = long reversal bar

-1 = short reversal bar

0 = no reversal bar

When using this method with an index (e.g. Reversalbars()[int barsAgo] ), the value of the indicator will be issued for the referenced bar.

Parameters

inSeries Input data series for the indicator

Visualization

ReversalBars

Example

// Set CalculateOnClosedBar = true !!
if (Reversalbars()[0] == 1.0)
Print("The last bar is a long reversal bar.");