How do I apply the Bias Reversal study?
The Bias Reversal indicates a potential change in trend (a reversal of a bias) point.
The Bias Reversal appears as an inverted colored triangle at the top of the chart and as a colored triangle at the bottom of the chart. When the Bias Reversal is drawn at the top of the chart, it indicates some degree of a change in trend and the market should move down. The opposite is true when the Bias Reversal is drawn at the bottom of the chart. If the Bias Reversal gives you a false signal, a line will eventually be drawn at the base of the signal or will be removed from the chart if the filter is enabled.To apply the Bias Reversal study on a chart, right-click on the chart. When the menu appears, move your cursor to Advanced GET Studies and then left-click on GET: Bias Reversal
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To configure the Bias Reversal study, right click on the chart and select Edit Studies. When the Edit Studies dialogue box appears, select Bias Reversals in the Study field and following dialogue box will appear:
The Top and Bottom Color lists allow you to alter what colors the Bias Reversal will be drawn with.
When checked, the Filter removes any Bias Reversal signals that have been marked as false signals. When this is not checked, false Bias Reversal signals will be indicated with a line being drawn at their base. Bias Reversal signals are designated as "True" or "False" when the next price bar after the signal has been verified.
The Sensitivity selection list allows you to choose between a Normal or Tight sensitivity level for the Bias Reversal calculation.
The Normal setting is what should be used in most circumstances. The Normal setting will give you more signals, some of which will be "false" or smaller changes.
The Tight setting is less sensitive to the market, and will give you less Bias Reversal points. When using the Tight setting you will have less false signals, but you will have less good signals as well.
The Bias Reversal indicates a potential change in trend (a reversal of a bias) point.
The Bias Reversal appears as an inverted colored triangle at the top of the chart and as a colored triangle at the bottom of the chart. When the Bias Reversal is drawn at the top of the chart, it indicates some degree of a change in trend and the market should move down. The opposite is true when the Bias Reversal is drawn at the bottom of the chart. If the Bias Reversal gives you a false signal, a line will eventually be drawn at the base of the signal or will be removed from the chart if the filter is enabled.To apply the Bias Reversal study on a chart, right-click on the chart. When the menu appears, move your cursor to Advanced GET Studies and then left-click on GET: Bias Reversal
To configure the Bias Reversal study, right click on the chart and select Edit Studies. When the Edit Studies dialogue box appears, select Bias Reversals in the Study field and following dialogue box will appear:
The Top and Bottom Color lists allow you to alter what colors the Bias Reversal will be drawn with.
When checked, the Filter removes any Bias Reversal signals that have been marked as false signals. When this is not checked, false Bias Reversal signals will be indicated with a line being drawn at their base. Bias Reversal signals are designated as "True" or "False" when the next price bar after the signal has been verified.
The Sensitivity selection list allows you to choose between a Normal or Tight sensitivity level for the Bias Reversal calculation.
The Normal setting is what should be used in most circumstances. The Normal setting will give you more signals, some of which will be "false" or smaller changes.
The Tight setting is less sensitive to the market, and will give you less Bias Reversal points. When using the Tight setting you will have less false signals, but you will have less good signals as well.