As seen on the NinjaTrader platform! An alternative for range & renko chart users. Unlike traditional range bars, Point-O bars hold the range from open to close at a constant level. They only require the price to retrace to the original open value of the previous bar in order to form a new bar. This form of charting makes it very easy to spot strong support & resistance levels and simplifies catching of reversal points.

PointO chart settings:
Retracement factor = 1
Asymmetrical reversals = false
Show wicks = true
Reset Open on each trading day = false

PointO chart settings:
Retracement factor = 1
Asymmetrical reversals = false
Show wicks = true
Reset Open on each trading day = true

This charting type also enables the trader to maintain the correct OHLC values for a given day (ones that correspond to the day’s Open, High, Low & Close values) by providing a special setting which enables this feature (notice the circled points on the chart, where the open price has been reset when the new day started on the charting platform).

Features

• Highly optimized C++ engine for bar calculation. The plug-in remains stable even in fast moving markets (i.e. during news releases).


• Plug-in supplied as indicator compilation – this enables you to setup several PointO bar charts from a single 1M chart.


• Bundled with PointOChart_info indicator, which displays the High and Low thresholds for the current bar plus bar size information.


• Optional sound or alert popup on bar close.


• Compatible with all Metatrader4 brokers.


• Full documentation included.


• Lifetime updates (via online updater) included.


• Low price & one time payment only.


• Instant download!


• Compatible with all of the latest MT4 builds