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.
Point Original charting for Metatrader 4
A better alternative to renko bars
Preset: PointO
(overrides the defaults for the inputs shown below with:)
Open offset % = 0
Reversal Open offset % = 0
Reversal bar size % = 100
Show wicks = true
Reset Open on each trading day = false
Preset: PointO
(overrides the defaults for the inputs shown below with:)
Open offset % = 0
Reversal Open offset % = 0
Reversal bar size % = 100
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
