Tyche Trading

Measured Move Docs

Documentaion

Measured Move Documentation

Settings Descriptions:

Parameters:

    • Minimum Reversal Percent: The minimum amount the reversal pulls back on the first leg.
    • Maximum Reversal Percent: The maximum amount the reversal pulls back on the first leg.
    • Initial Lookback: The number of inital bars that need to align to trigger first leg.
    • First Move Swing Strength: The movement strength of the first leg.
    • Extended Targets Right (Bars): Extends the lines that display the target and failed n number of bars.
    • Draw Past Measured Moves: Toggle displaying already completed measured moves.
Display Properties:
    • First Move Line Color: The line color of the first leg.
    • First Move Line Style: The line style of the first leg.
    • First Move Line Width: The width of the first leg.
    • Reversal Line Color: The line color of the reversal.
    • Reversal Line Style: The line style of the reversal.
    • Reversal Line Width: The line width of the reversal.
    • Second Move Line Color: The line color of the second leg.
    • Second Move Line Style: The line style of the second leg.
    • Second Move Line Width: The width of the second leg.
 
Auto Strategy Compatibility Data:
The measured move indicator comes with 4 Series’ that can be used in automated strategies or other indicators.
  1. LegType: The leg that the measured move is currently on.
    • LegType[0] = 1: First Bullish Leg
    • LegType[0] = 2: Reversal Bearish Move
    • LegType[0] = 3:  Second Bullish Leg
    • LegType[0] = 4: Bullish Target Price Was Hit
    • LegType[0] = 5: Bullish Measured Move failed to hit target
    • LegType[0] = -1: First Bearish Leg
    • LegType[0] = -2: Reversal Bullish Move
    • LegType[0] = -3:  Second Bearish Leg
    • LegType[0] = -4: Bearish Target Price Was Hit
    • LegType[0] = -5: Bearish Measured Move failed to hit target

  2. PriceTarget: The exact price of the target of measured move.

  3. ReversalPrice: The lowest price of the reversal (failed measured move trigger).

  4. ReversalPercent: The exact percent of first leg that measured move reversed to (not decimal form, ie. 45.23%).