colored reversal bar

[ericd2281]

This may sound silly but what determines a colored reversal bar? That is, what criteria is used to evaluate if the bar should be painted blue/red or not at all?

I have been using them as an entry for MTP signals for about a year but couldn't tell a computer how to identify one if I had to.

Any ideas?

Eric

[Biggo]

This may sound silly but what determines a colored reversal bar? That is, what criteria is used to evaluate if the bar should be painted blue/red or not at all?

I have been using them as an entry for MTP signals for about a year but couldn't tell a computer how to identify one if I had to.

Any ideas?

Eric

Hi Eric

I have wondered about the same thing as well. Sometimes what I might consider a bearish price bar comes up as a buy !!
I am sure there is a good reason as they do seem very good at finding the turning points in the market.
I am not sure if the actual algorithm is a "trade secret " but I would be interested to know how they are calculated also

Cheers:)

[Muddy Farmer]

Yes, they are proprietary. I asked Steve in a live chat room last year and he said they were a trade secret. He said "don't worry about how they work, just trade off them when given a signal".

[Steve Griffiths]

Yes, they are proprietary. I asked Steve in a live chat room last year and he said they were a trade secret. He said "don't worry about how they work, just trade off them when given a signal".

Yep, that is still my answer, don't worry about how they are calculated, just look to trade off them at WPT support / resistance :)

Steve

[ericd2281]

I have been trading off of them for quite a while but was just wondering what made the colored entry special or different then any other bar identified as a pivot.

I was just curious because over time I have not taken many potential trade setups because there was no colored reversal bar.

Thanks!