Example with 20 ticks:
- A new bar is formed only when price reverses by 20 ticks from the previous bar’s extreme.
- Time is ignored; bars are based purely on price movement.
- If price moves up, the bar continues until price drops 20 ticks from the high.
- That 20-tick move in the opposite direction prints a new reversal bar.
- Each bar therefore represents a minimum 20-tick directional change.
