[DubaiTrader]

Hello all,

I am in the process of researching pip range charts which are based on actual pip movements, not time based movements. I realise renko system is somewhat similar but what I have in mind is something different. I am currently using them on Ninjatrader. However, I was wondering if anybody had any advice, ideas or general info on how people make pip range charts work for them.

The idea to use pip range charts has been brewing for a while, I would much rather enter trades via a pip based system than a time based system.

Any help appreciated.

[jtrade]

DT - range bars are very popular in certain quarters, although obviously not in the MT4 world. They are not a magic bullet, however : it is unlikely that a not-profitable trader will move into profit simply by switching to range bars (this is not a comment on your trading about which I know nothing).

I think they are far more useful than Renko, which look the easiest but imho are the most tricky to actually trade live.

Here is the chart from which I execute trades in Ninja, and also a 5 min chart also from today. The range setting shows 13, but that is in fact 6.5 pips, as the data is in half-pips from my primary broker, Interactive Brokers. I usually use 21 range, ie. 10.5 pips and will switch back to that setting tomorrow.

NB. My primary charting is in TradeStation where I am presently using a humble 5 min chart with somewhat more indicators

[DubaiTrader]

Originally Posted by jtrade

DT - range bars are very popular in certain quarters, although obviously not in the MT4 world. They are not a magic bullet, however : it is unlikely that a not-profitable trader will move into profit simply by switching to range bars (this is not a comment on your trading about which I know nothing).

I think they are far more useful than Renko, which look the easiest but imho are the most tricky to actually trade live.

Here is the chart from which I execute trades in Ninja, and also a 5 min chart also from today. The range setting shows...

Thanks for the post, jtrade.

I'd like to post my charts that I'm working with via Ninjatrader but currently on the wrong laptop so I'll have to post them tomorrow.

I'm still experimenting with various ranges and any valid indicators that can help my strategy.

Do you know of any websites or e-books detailing well described/thought out strategies already used with pip range charts? I'd like to get an idea if what I'm doing is worthwhile.

I'm still very new to Ninjatrader and still learning it's abilities but so far it seems fantastic.

[jtrade]

http://eotpro.typepad.com/my_weblog/
Check out the 12 July 2009 video on range bars.

[DubaiTrader]

This is what I'm working with currently. Also looking at using a few different sized ranges to compliment entries and exits.

[DubaiTrader]

This is today's chart. Some excellent opportunities on the long side. I'm looking for 3 consecutive candles above the EMA's, then go long for 10 pips +spread. SL is also 10 pips.

Entering when the initial cross happens seems to return a very decent success.

[DubaiTrader]

Let me take a current GU chart which by all intents and purposes has been a little choppy on a 5 min chart and more so on a 15 min chart.

Several opportunities on the chart below to scalp 10 pips with success.

[shiva]

Hey D T, take a look at 50 pip candle thread, some similarities there.

Originally Posted by DubaiTrader

Let me take a current GU chart which by all intents and purposes has been a little choppy on a 5 min chart and more so on a 15 min chart.

Several opportunities on the chart below to scalp 10 pips with success.

[fxmatahari]

Originally Posted by DubaiTrader

This is what I'm working with currently. Also looking at using a few different sized ranges to compliment entries and exits.

Hi Dubaitrader

I see some similarity about your MA + PA trading method with mine. See charts. Are you taking the 5/8/15 EMA from GMMA?
How is the progress with it?
Hope you have a good success rate?

(I am a newbie in demoing acct. I am soft of settling with simple trading method. It is still under experiment mode)

[walb99]

Originally Posted by DubaiTrader

Let me take a current GU chart which by all intents and purposes has been a little choppy on a 5 min chart and more so on a 15 min chart.

Several opportunities on the chart below to scalp 10 pips with success.

For MT4 it is called "Constant Range Bars", what you are using in Ninja.

[DubaiTrader]

Originally Posted by shiva

Hey D T, take a look at 50 pip candle thread, some similarities there.

Thanks, saw that thread and mentioned the possibility of using range charts to help solve their problem of counting the 50 pip candles.

I am looking for a shorter term trade though with these.

[DubaiTrader]

Originally Posted by fxmatahari

Hi Dubaitrader

I see some similarity about your MA + PA trading method with mine. See charts. Are you taking the 5/8/15 EMA from GMMA?
How is the progress with it?
Hope you have a good success rate?

(I am a newbie in demoing acct. I am soft of settling with simple trading method. It is still under experiment mode)

Sorry for my ignorance, but what's GMMA?

An ideal setup is when both the 5 and 8 EMA cross the 15 EMA and all 3 are beneath the 50 EMA channel. I use the 50 EMA as an overall trend guide and only trade in that direction.

[jtrade]

Guppy Multiple Moving Average

[fxmatahari]

Originally Posted by DubaiTrader

Sorry for my ignorance, but what's GMMA?

An ideal setup is when both the 5 and 8 EMA cross the 15 EMA and all 3 are beneath the 50 EMA channel. I use the 50 EMA as an overall trend guide and only trade in that direction.

Don't worry.
I think everyone is free to compose one's trading method, just like yours.

It is just that I happened to surf net and found this popular GMMA = Guppy Multiple MAs trading method...

5/8/15 MAs are used in GMMA.

Perhaps this will be helpful to you and others

http://www.corporatedoctor.com.au/pa...g_Averages.pdf

There are GMMA threads in FF but many threads are inactive now

Cheers

[DubaiTrader]

Thanks guys, will take a look at the material.

Hope this thread can keep going.