Range Bar Chart on MT4 - page 10
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Hi..
I understand your concern..
Take a look at my charts
This chart its from ODL real account
And this its from ODL demo account
Maybe diferent server...
I've looked on the video and can say that they are using very simple strategy, entry on MACD cross and exit on two bars in opposite direction. If I'm correct this would be very easy to program and put on CRB chart. IMHO they are mucgh overpriced with $500+monthy fee $344 for data feed and membership. What is this datafeed anyway as forex data are usualy free? I think that in this case a hype "it is expensive therefore it must be good" is working.
You are wrong on the cost to use TradingFx's pip charts, because I signed up for their service for $187 per month. The MACD is different then normal and has been modified to work specifically with the pip range bars, but they will not give the calculation out and it's not accessible on my system unfortunately. There are several trading strategies they trade and teach in the room and I was able to sit in on some of the classes last week. I have been trading with their "Sauce" trading strategy and teamed the pip charts up with some time-based charts they gave me to build in MT4 with much success (18 out of 22) one of those being totally my mistake, but still a loss. So far, combining the two systems has been great for me and totally worth the cost.
Well, you probably belived in the video that "pip range bars" are revolutionary. We did this revolution about half year ago, but we call it constant range bars. It is exactly the same and available for a long time already on my site. By the way, the price is much lower than $500.
Michal, TradingFx has trading videos and data going back over 2 years when they started developing their charts, but I understand it has only been in since October that they have allowed other traders download their pip range charts onto their own computers. I have been surprised with all the other technical indicators available and time based charts they have built into the system. Plus I have have pip ranges of 5 6 8 10 15 30 and 50 on all pairs and the USDX and they are adding the e-minis to the system I downloaded.
My brother has your CRB and we have been using both systems. With TradingFx's range bars being so very consistent, plus with no pricing gaps and all the added tools, there really is a difference. They even gave me some chart links to use in MT4. It's worth the money to me, but I'm not a newbie trader using limited funds either. However we plan to continue using both systems together.
I think you're mixing up M5, M6, etc. It doesn't matter what you call a CRB chart, it's the range setting that matters. I prefer 8-25 range charts. But I can name the chart they're on m2 or m20 -- it doesn't matter.
What range is your M2 chart set on?
Can anyone offer some assistance as to what to set the charts to?
For example on my MT4 charts of cable I have the expert on an M1 time chart and an M2 'offline' chart for the range bars.
It seems awfully choppy and hard to trade on this quick setting.
Would it work ok on say M5 for the time chart and M6 for the 'offline' chart?
Just trying to get my head around the best way of using this system?
Thanks again to anyone who can help.
robRange Bars
I am very interested in bar charts and this thread is great. Couple of questions.....Just to try, I downloaded the Range Bars wlas v09 posted by mart-hart on 3/9. When I loaded as instructed, the price on the EUR/USD was 1.2516, however on the bar chart the price was shown as 1.2529...?? Does this happen with Michal's charts?
Is anyone using bar charts with any great success? Has anyone come up with a reasonable method or 'system'?
On a 8 pip bar chart, what is the recommended settings for 2 MA's for crossover? For MACD?
Is MACD compatible with these charts? Is CCI preferred? (I use FXDD mt4 charts with a MACD colored which includes settings for RSI, CCI and MoM).
Thanks for any info!
LB
With TradingFx's range bars being so very consistent, plus with no pricing gaps and all the added tools, there really is a difference.
I saw your charts once and they are not correct. A gap to a new bar should always be in the direction of the previous bar. On your chart this is not a case in 100%, sometimes a new bar opens after a gap opposite to the last bar. This indicate that you still have some problems and are not using CBR algorithm after all.
hi every body
I am very interested in bar charts and this thread is great. Couple of questions.....Just to try, I downloaded the Range Bars wlas v09 posted by mart-hart on 3/9. When I loaded as instructed, the price on the EUR/USD was 1.2516, however on the bar chart the price was shown as 1.2529...?? Does this happen with Michal's charts?
Is anyone using bar charts with any great success? Has anyone come up with a reasonable method or 'system'?
On a 8 pip bar chart, what is the recommended settings for 2 MA's for crossover? For MACD?
Is MACD compatible with these charts? Is CCI preferred? (I use FXDD mt4 charts with a MACD colored which includes settings for RSI, CCI and MoM).
Thanks for any info!
LBFWIW...
i will share some of my observations that may help; the best MA settings i found are 3 & 8 EMAs set to close price no offset...i believe that trading fx uses two MAs of which one is simple & the other is exponential...remember that MAs have latency issues...
the best MACD settings i found were 5/8/5
i also had success using simple trend lines, Andrews Pitchfork, retracements, and chart patterns...
the best pip range bar settings vary from cross to cross & the session in question...but generally 8 & 10 works best as a rule of thumb...do not try to have everything on a chart @ the same time as it will prevent you from seeing the price action...the 2 bar in opposite direction works good enough to use as an exit, but can be refined...the entry is a MA cross plus, the price bar crossing them and confirmed by MACD...this also can be tweaked
as to your price discreptancy try loading all the data, shutting down & restarting the program...plus it helps if you maintain your computer @ the end of your trading day
hope this helps!
does anyone know someone that can help guide me in programming an EA for a homebrew strategy? i am not a programmer but i want to do it right and in stages to verify it functions like i want.
Thanks!
Da-net........thanks for the reply. It is very much appreciated! Are you using Michal's charts or are you using tradingfx? Have you thought about taking some of your tweaks and turning this into an EA (due to health issues, I can no longer trade all night manually) or is that possible since these charts have to be opened off line? Is the method viable or profitable enough to do so?
Again, thanks for the help. So many questions......
LB
el bee,
the version i have been using is WLAS.....
i am not sure what the term "offline" means within the mt4 platform, but i have observed very minor (1 or 2) pip differences very infrequently between the offline & time based charts... i believe it would be possible to turn it into an EA, but since i know nothing about programming one that is not possible for me...it is profitable the way i trade it BUT it would not generate near the pips that can be done manually
hope this helps!