three bar reversal indicator - Typo errors correcetd

[sam777]

What exact condition constitutes a three bar reversal. The two parameters in the indicator Three Bar Down = Cyan and Three Bar Up = Gold I am not sure what exactly it means? The rest of the parameters are obvious.

Any one explaining will b appreciated. Thx Sam

[NinjaTrader_Tim]

Hi sam777,

Hopefully some other users can shed some light on this.

As an FYI, this is in reference to the indicator listed at - http://www.ninjatrader-support2.com/vb/local_links.php?catid=1&linkid=165

[mountainclimber]

I recommend clicking on the name of the author (far right link in blue in the file sharing section of this forum).

[sam777]

Tim/Mountainclimber;

I have emailed the creator of this indicator but no luck.

Also, Tim no one has replied withe answer to my question. I don't know what to do. Hopefully, some one will address my question - just the two Three bar up = gold and Three bar Down = Cyan - what exact conditions it fulfills?

Thx Sam

[mountainclimber]

Sam,

Can you sort out the color system from the below?

[0] -> current building bar, [1]-> the bar prior to the current bar.

(I added notes so you could understand, except for up and down bars which you can figure out by the variable name I think...)

private Color upcolor = Color.Gold;
private Color dncolor = Color.Cyan;

if (Close[0] == Open[0])
BarColor = Color1; //black
elseif (Close[0] > High[1])
BarColor = Color2;//spring green
elseif (Close[0] < Low[1])
BarColor = Color3;//red
elseif (Close[0] > Open[0])
BarColor = Color4;//forest green
elseif (Close[0] < Open[0])
BarColor = Color5;//firebrick

[sam777]

I am not sure what you ae suggesting by sorting out colors. I have no problems with the color or what exactly the condition it means.

The only issue is what exactly it means displaying the 3 bar up and 3 bar down (conditions it fulfills)? The rest such as close < open...., close > open.....etc and their respective colors is not the issue.

Thx Sam

[aviat72]

I have not read what the indicator does but in general a 3 bar reversal means that 3 bars counter to the previous trend means that the original trend is now finished.

For example, when ES plunged on Thursday 3 consecutive one minute bars which were green meant that the plunge was over. Now if I could have traded on that...

[NinjaTrader_Ben]

Hello,

If there is anything we can help you with, let us know.