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dojirock
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Postby dojirock » Sat Oct 30, 2010 6:52 pm

Maybe we have a new thread starting....this on is for dchappy method...

dojirock

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The_Snowman
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What chart ARE you guys using?

Postby The_Snowman » Sun Oct 31, 2010 2:51 am

CONSTANT RANGE BARS are not Renko bars, Heikin Ashi bars, ticks bars or point & figure bars, please read this first -

http://www.investopedia.com/articles/tr ... t-view.asp

And the indicator for Metatrader 4 is here, warning $30 USA -------->

http://www.the-forex-strategy.com/index ... ars-plugin

But I found this free indicator ----------->

http://www.surefiretradingchallenge.com ... SWWUBQHBCL

and here is how to use it, not as straight forward as just whacking it on the chart, you will see -

http://www.youtube.com/watch?v=J75KzAp11Y4

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@ dchappy

Postby The_Snowman » Sun Oct 31, 2010 4:09 am

dojirock wrote:Maybe we have a new thread starting....this on is for dchappy method...

dojirock


@ dchappy, or others, for the benefit of those of us coming late to this thread, can you please explain the type of chart method you are using and the platform?

I was directed to this thread from another, on the premise that people were using Metatrader 4 and using Constant Range Bar Charts, is that true?

The thread title is perhaps slightly misleading, if indeed that is the case; perhaps another thread dedicated to MT4 and Constant Range Bar Charts is required.

Many thanks, John :)

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Postby The_Snowman » Sun Oct 31, 2010 3:01 pm

Phil wrote:bad results...

At the time of entry, price was close to the bottom of the channel. I thought i saw an oppertunity for a countertrend but i guess i was wrong...
Perhaps i´m trying to hard to earn a bit of money and am forcing myself to trade when it´s not the right moment.

btw, this is an 5 range chart.



Enjoy your day


What exactly do you mean by "5 range chart" because some of those candles are very short and near the end, some really long red candles?

I have been researching into Constant Range Bar Charts and all the candles are the SAME size

Thanks, John

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Postby dojirock » Sun Oct 31, 2010 6:18 pm

Hi snowman, welcome to range bar trading...

yes we trade range bars. We do however have a heikenashi color bar overlayed to help withexits....keeps me in longer...out when the color changes...

hkn ashi bars dont affect our range bars...dchappy uses...20 alot...i use 7, and 14..and 20 range bars....phil uses 7 and 20....
but they are all range bars...



dchappy has just started using mt4....so he is experimenting...with time charts and divergence....

one may ask...this thread might be more about divergence than range bars....but it its a great indicator to use with range bars.

a 5 range bar chart...is made up of a spread, if you will... of 5 pips, a 20 range bar , each bar is made up of 20 pips from top to bottom, not open to close....its based on high to low...20

if we remove the heiken ashi indicator the bars are all the same size...

hope this helps...

i am starting a range bare tread...watch for it and if you trade them please join in....glad to have more participants to make money...

see ya all soon...

dojirock
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"

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Postby dojirock » Sun Oct 31, 2010 6:23 pm

One more thing, please.....

this is an excellent thread for divergence and rangebar trading...dchappy has helped us tremendously....my pupose for starting a new thread is just to make it a little easier during searches....for rangebar traders...

keep trading well...

dojirock :D
"A small loss is just as satisfying as a large gain" -MO

"Sometimes we need to stop learning and start thinking...."

"Once you stack, you'll never go back!"

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Postby Arkadin » Sun Oct 31, 2010 8:22 pm

what would be a good stop loss strategy with this, would tick bars work as well?

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Postby The_Snowman » Mon Nov 01, 2010 2:30 am

Arkadin wrote:what would be a good stop loss strategy with this, would tick bars work as well?


Yes, No, Probably, if we give you the answer will you really trade by it? You really need to research the topic and make the decision yourself, compare the 2 charts side by side, see what works for YOU !!!

Start with understanding how each BAR is formed for the different types -

For those interested, more reading here, on all everything you can base a chart on -

http://www.linnsoft.com/tutorials/periodicities.htm

Time Driven Periodicities

* Second Bars Each bar reflects trading activity during a user-specified number of seconds.
* Minute Bars Each bar reflects trading activity during a user-specified number of minutes.
* Daily Each bar reflects trading activity during one day.
* Weekly Each bar reflects trading activity during one week.
* Monthly Each bar reflects trading activity during one month.

Volume Driven Periodicities

* Tick Each point/dot reflects one trade/tick.
* Tick Bars Each bar reflects price action over a user-specified number of trades/ticks.
* Volume Bars Each bar reflects price action over a user-specified volume.

Price Driven Periodicities

* Range Bars Each bar has the same high/low range.
* Change Bars Each bar has the same open/close change.
* Point and Figure Each bar is built and displayed based on Point and Figure logic.
* Renko Each bar is built and displayed based on Renko logic.

These periodicities can be grouped into 3 categories: time driven, volume driven, and price driven.

Time Driven Periodicities - Second Bars, Minute Bars, Daily, Weekly, and Monthly

Time driven periodicities are those in which each bar is composed of the price activity that occurred during a specific amount of time. The open represents the first trade that occurred during that time period, while the close represents the last trade. In these periodicity, the volume and price range of each bar can vary greatly, while the time period is kept constant.

Volume Driven Periodicities - Tick, Tick Bars, Volume Bars

Volume driven periodicities are those in which each bar is composed of the price activity that occurred during the trading of a specific amount of volume or number of trades (ticks). In these periodicities, the price range and time of each bar can vary greatly, while the volume is kept constant.

Price Driven Periodicities - Range Bars, Change Bars, Point and Figure, Renko

Price driven periodicities are those in which each bar is composed of the price action that occurred during a given movement in price. That price movement can be expressed as a given high low range (Range Bars) or a given change from open to close (Change Bars). For Renko and Point and Figure periodicities, price must retrace a given amount in order to complete a bar. In these periodicities, the volume and time of each bar can vary greatly, while the price movement of each bar is kept essentially constant.

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Postby The_Snowman » Mon Nov 01, 2010 2:43 am

dojirock wrote:Hi snowman, welcome to range bar trading...

yes we trade range bars. We do however have a heikenashi color bar overlayed to help withexits....keeps me in longer...out when the color changes...

hkn ashi bars dont affect our range bars...dchappy uses...20 alot...i use 7, and 14..and 20 range bars....phil uses 7 and 20....
but they are all range bars...



dchappy has just started using mt4....so he is experimenting...with time charts and divergence....

one may ask...this thread might be more about divergence than range bars....but it its a great indicator to use with range bars.

a 5 range bar chart...is made up of a spread, if you will... of 5 pips, a 20 range bar , each bar is made up of 20 pips from top to bottom, not open to close....its based on high to low...20

if we remove the heiken ashi indicator the bars are all the same size...

hope this helps...

i am starting a range bare tread...watch for it and if you trade them please join in....glad to have more participants to make money...

see ya all soon...

dojirock


thanks for the welcome, and thanks for starting new thread, as you can see, I am an ardent supporter of Range Bar Charts, unfortunately for the next few weeks, due to lack of data feed and international travel, I will be unable to trade or post charts, good time for learning.

However, I still don't see why the Heikin Ashi should alter the length of the Range Bar? In the chart I asked about, it is very clear that some of the green bars are very short while the red bars got very long at the end.

I don't think that is right; are you sure your indicator was updating properly?

Maybe post the Range Bars on it own and then with the HA candle on top of them?

I would do this but as I said, no data feed, thanks, John

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Postby The_Snowman » Mon Nov 01, 2010 2:57 am

Scorpio

You are clearing up a lot of confusion. You are righting wrongs, redressing imbalances, compensating for past mistakes and starting to steer a wiser course towards a brighter future.

just had to share, not that I read it every day or anything, caught my eye while reading my local paper online :)

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