Range Bar Chart on MT4 - page 16
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heiken ashi bars
Just a curiosity. Will Heiken Ashi bars work over the CRB's or does the indicator need to be rewritten to work correctly with this method?
Just a curiosity. Will Heiken Ashi bars work over the CRB's or does the indicator need to be rewritten to work correctly with this method?
Yes, they will.
Some Details
Greetings All,
I started analysing futures data using range bars in 1988. This was well before Mr Brazilian Range Bars supposedly invented them. In any case the Japanese were on to it long ago. I was using an IBM Unix box to do this. I have written hundreds of indicators and I can give you some broad answers.
On fixed size bars, eg a range of 10 pips, the next bar cannot open within this bars range. Once the price moves beyond this bars range I would start a new bar. If it gapped up 50 pips then that would be the open of the next bar and the chart will show the gap. You cannot fill the chart with bars that did not occur and then expect to backtest successfully.
You can also use what I call step bars. These will not make a new bar until the price moves n points/pips from the open. Thus when the market is moving in one direction you will get more bars. I have tried about 5 variants of non time based bars.
I based all my indicators on the open of the bar. All trend based indicators perform better using range bars. Period! I have done thousands of tests using more than 20 years of tick data across multiple markets. I found that the simplest of indicators worked best. Use whatever you like. I am not going to give you specific bar sizes for different markets. If the bar size removes the noise that you want to get rid of then that is the size for you.
Cheers
Range/Pip bars
I use these bars exclusively in my trading.
But they are calculated on the H/L. I would be interested in seeing the bars calculated on the Open.
Any chance of you posting?
Care
Greetings All,
I started analysing futures data using range bars in 1988. This was well before Mr Brazilian Range Bars supposedly invented them. In any case the Japanese were on to it long ago. I was using an IBM Unix box to do this. I have written hundreds of indicators and I can give you some broad answers.
On fixed size bars, eg a range of 10 pips, the next bar cannot open within this bars range. Once the price moves beyond this bars range I would start a new bar. If it gapped up 50 pips then that would be the open of the next bar and the chart will show the gap. You cannot fill the chart with bars that did not occur and then expect to backtest successfully.
You can also use what I call step bars. These will not make a new bar until the price moves n points/pips from the open. Thus when the market is moving in one direction you will get more bars. I have tried about 5 variants of non time based bars.
I based all my indicators on the open of the bar. All trend based indicators perform better using range bars. Period! I have done thousands of tests using more than 20 years of tick data across multiple markets. I found that the simplest of indicators worked best. Use whatever you like. I am not going to give you specific bar sizes for different markets. If the bar size removes the noise that you want to get rid of then that is the size for you.
CheersI am getting serious about my trading and am looking for something to give me an extra edge.
I currently trade support and resistance using heiken ashi bars to confirm the very short term direction. My question to you is, do range bars improve the timing of trading off of support and reistance, or are they only beneficial for trading trend based indicators?
Range bars
Hi,
I'm obviously aware of Support/Resistance, but my style of trading is very definately of the trend kind.
I use a grid system for my entries & exits, & don't try to 'get in at the bottom' or 'out at the top'. I trade only for a set amount of pips, and a wage. (I leave the get rich dreams to others!
As stated above, Range, or Pip, bars define, and stick, to a trend better than all else. (Try using them with HA bars...)
Care
I am getting serious about my trading and am looking for something to give me an extra edge. I currently trade support and resistance using heiken ashi bars to confirm the very short term direction. My question to you is, do range bars improve the timing of trading off of support and reistance, or are they only beneficial for trading trend based indicators?
A free (Half price) lunch
Is it any wonder that coders get uptight with people 'stealing' their work....I got the following as a PM.
I read that thread and found that you have bought Michal's Range bar script.
Im really interested that RangeBar script.
I have right now Tushar and wlas free range bars indicators, but i would like to compare with Michals CRB script to be sure that they make correct bars.
Maybe u can sell me that script about half the price you bought that. The original price is too much overpriced in that economy situation. (I found programmer who makes indicators for 20-50$, but I need correct rangebars as soon as possible)
You can buy some wishky or beer with that money and I can support my country economy same way.
Let me know what you think.
What I think is this:
IF YOU CANNOT DO SOMETHING YOURSELF YOU HAVE TO PAY FOR IT. DON'T BEGRUDGE THE CODER HIS FEE!
bar and indicators
I use these bars exclusively in my trading.
But they are calculated on the H/L. I would be interested in seeing the bars calculated on the Open.
Any chance of you posting?
CareThe indicators are calculated on the open not the bars. Bar are based on tick data.
Range bars
Gotch ya, Gotch ya.
Thanks for coming back.
Care
The indicators are calculated on the open not the bars. Bar are based on tick data.
Is it any wonder that coders get uptight with people 'stealing' their work....I got the following as a PM.
I read that thread and found that you have bought Michal's Range bar script.
Im really interested that RangeBar script.
I have right now Tushar and wlas free range bars indicators, but i would like to compare with Michals CRB script to be sure that they make correct bars.
Maybe u can sell me that script about half the price you bought that. The original price is too much overpriced in that economy situation. (I found programmer who makes indicators for 20-50$, but I need correct rangebars as soon as possible)
You can buy some wishky or beer with that money and I can support my country economy same way.
Let me know what you think.
What I think is this:
IF YOU CANNOT DO SOMETHING YOURSELF YOU HAVE TO PAY FOR IT. DON'T BEGRUDGE THE CODER HIS FEE!This is very strange. I must admit that when a person writes me and says that the price is under his/her budget, I would consider a discount. On the other hand, purchasing the script in this way would result with no support and as I assume the cost is only the support, it is not worth the half of price as it does not get the half of support.
Regards