(binned per thread starter’s request) I invented a new bar, who c

My new bar is price bar, and it based on range bar, but my new bar is different from traditional one on construction. I found that traditional range bar has a fatal mistake, and I modified it and make it real price bar. Please see the screenshot 1,below is rangebar chart ,pls not mistake it for timebar chart

Suppose each range bar set 20 pips.

At first, price from point A to point B directly, there is no retracement, here there are no problem.the height of AB= the width of xy = 20pips

then price point B to point C, however, in this procedure, price has retracement, price from 1.2020, then 1.2030, then 1.2025, at last 1.2040. in traditional range bar, it only consider start and destination, so even price has retracement within the bar, the width of yz still has the same width. however, the truth is the width became large. the real width of yz= (1.2030-1.2020)+(1.2030-1.2025）+（1.2040-1.2025）=10+5+15=30pips > traditional 20 pips

It is unfortune that our platform does not support width-change bar, but we have the other method that keep the width of bar and the heith of the bar changed.

in tradtional range bar chart, we only know pips in vertical direction , not knowing what horizontal direction mean. I would tell you that the width of range bar is just pips counter. when the price up and down ADD UP to the number of what you set, a new bar formed, different from traditional bar only considering start and destination. If so, you will see OHLC in range bar. Price bar is most powerful ,but traditional range bar use interpolation arithmetic method----- it is artificial bar not real bar. the real bar require data feed , restoring data like tick bar for MT4. the difference is tick bar is just change of price , and my new bar is QUANTITY of price-----that when price up and down add up to what you set. This kind of bar take example by both rangebar and tickbar.

My new bar consider the procedure. if you set 20 pips a bar, the start price is 1.2000, and then 1.2001,1.2002,1.2001,1.2004,1.2002,1.2005,1.1999,1.2003,for traditional range bar, a new bar will never formed because of its only considering start and destination price, but my new bar it formed a new bar, calculation as (1.2001-1.2000)+(1.2002-1.2001)+(1.2004-1.2001)+(1.2004-1.2002)+(1.2005-1.2002)+(1.2005-1.1999)+(1.2003-1.1999)=20pips, a new bar formed.

You are giving an axis (this case time axis) a value that It is not suited for that axis. Your "not knowing what horizontal direction mean. " Is time for that candle. Which Is a really huge information.

Not to say that all your theory is Just something you can already do changing to a Lower timeframe and see manually candles and what price did.

Edited some words.

The chart above is range bar chart based on offline chart, axis horizontal direction is not time.

My new construction bar require data feed , restoring data like tick bar for MT4. the difference is tick bar is just change of price , and my new bar is quantity of price-----that when price up and donw add up to what you set. This kind of bar take exmple by both rangebar and tickbar.

Is there any new info inside lets`s say 10 pip range bar if you can see inside that bar, maybe, but you can see that when you put another chart with 1 pip bar and now you can see what happened in that 10 pip range.

pls forgive me for the word of post 1. I admit your method is also right, but you could not zoom in/out infinite. In fact, tradtional rangebar chart use pixel methd ,and my new bar use vector method. pixel method picture should support zoom in/out infinite， but MT4 only support 6 level vision

no worries mate, I was just thinking that how difficult that is to write in code, so if you can not find anyone to do that, then you can do as I wrote

perhaps it is a great idea, perhaps you could see reversal bars for example

I do not think there are much difficulty in writing this kind of bar. There are little advanced algorithm, only need collecting pips IN ORDER, and when specified pips meet, a new bar formed. very natural, it is REAL price bar, like tick/volume/time bar