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How do I change the Footprint to the tick reversal setting and how do I set it for a certain number of ticks?

Bob Hoffman
posted this on March 02, 2010 13:45

THESE INSTRUCTIONS ARE FOR THE MULTI-PANE FOOTPRINT.

  1. Open up the Footprint preferences window by right clicking the chart and choosing Preferences | Chart.
  2. Click the Periodicity drop down and specify the Point and Figure for what the intraday bars are based on.   Set the reversal criteria or click the drop down for suggestions. An example of a  5 tick reversal for the ES contract would be entered .25x5.  Click OK.
  3. .25 represents the box size and 5 represents the reversal criteria. This is consistent with point and figure methodology.
  4. Upon clicking OK, the chart style will change to Point and Figure. You need to click the chart style drop down in chart preferences and specify Footprint as the type.  Click OK.

THESE INSTRUCTIONS ARE FOR THE CLASSIC FOOTPRINT.

  1. Open up the Footprint preferences window by double clicking the Footprint chart or clicking "more" at the top of the Footprint window. 
  2. Click the General Tab and look for "Bar Periodicity".  
  3. Type in the number of points in the first field and select "Reversal" from the drop down field.

pref_FP_Pref_reversal.png

The number typed in refers to TICKS and NOT POINTS!  On popular example is with ES Futures.  Many people use a 5 tick reversal, as seen above.

So obviously you will want to have an idea of the tick increment in order to be able to determine values that will work optimally. If you need suggestions please contact us and specify the instrument being traded.

By default most will use a 1 box setting, i.e. single tick increments on the price scale, for most futures contacts.  Stocks will usually be different use more compressed price scales, such as 2 or 5 box setting.