RV bars ( Reversal Bars ) is a NT8 Chart style. RV bars was created to provide a single bar signal for automated systems based on ADTS indicator. They actually represent ( with correct setting ) ADTS indicator on very small tick based chart - just 1 tick. RV bars does not shift the new bar open price ( as most Renko charts ) nor fills the gap between last close and new open of the bar. They are 100% correct to incoming ticks. This makes them 1-st choice for any automated system to show really true results while back testing.
The first parameter : Directional bar ticks - is the size of the directional candle from open to close.
The second parameter : Reversal bar : is the size of the Reversal in times of size of the Directional bar.
If the Directional bar is 10 ticks, and Reversal bar is set to 8 ( number of Directional bars ) then the Reversal bar will be 10 ticks x 8 = 80 ticks. When the Reversal bar parameter is set to 8, these bars will represent ADTS indicator chart style ( ADTS has 8 equal levels = to Step )
More chart style like No-Gap Range Bars; Mean Range Bars and Turbo Range Bars are free as well and available here : https://discord.gg/gB75nGrzZx
Several support indicators for RV chart style are also available
| Created By | adtsystems |
| NinjaTrader Version | 8 |
| File Size | .2 KB |
| Create Date | 01/22/2024 |
| # of Downloads | 1873 |
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