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Momentum Bars

  • #1
  • First Post: Feb 28, 2007 8:28pm Feb 28, 2007 8:28pm
Hi,
I've got a question. I've noticed on another forum a guy is using what he calls momentum bars or range bars. The attached chart shows what these look like. It looks really neat. I haven't had any luck finding such indicator for MT4, the closest thing is the Heiken Ashi candles, but that doesn't even come close to the range bars (I'm not exactly sure that this is the name of this indicator either, hopefully someone here knows what it really is). All answers will be appreciated!
Attached Image
  • #2
  • Feb 28, 2007 8:30pm Feb 28, 2007 8:30pm
And here is an example with the Heiken Ashi, do you notice the difference between the two? It seems as though you cannot go wrong with the range bars, unless there is a catch somewhere, like they repaint or something..
Attached Image
  • #3
  • Feb 28, 2007 8:37pm Feb 28, 2007 8:37pm
Those look like stop lines based on ATR.
  • #4
  • Feb 28, 2007 8:53pm Feb 28, 2007 8:53pm
Sorry, I am referring to the colored bars. That's what I"m looking for.
  • #5
  • Feb 28, 2007 9:13pm Feb 28, 2007 9:13pm
It's an indicator called Hull Trend, and it colors the bars based on whether the slope of the given Hull MA is positive or negative. Just put in a long period (I tried 89), and it looks to give pretty good signals. I found it on here in the indicators archive I believe. Let me know if you can't find it there.

andersenws
"Youth is the trustee of prosperity." - Benjamin Disraeli
  • #6
  • Feb 28, 2007 9:26pm Feb 28, 2007 9:26pm
Alright, thanks. Im gonna take a look and see if thats the thing. So have you used it in real trading before?
  • #7
  • Feb 28, 2007 9:37pm Feb 28, 2007 9:37pm
I haven't used it before. Like any other MA based thing, you need an effective filter (or intuition) to stop the chop. I'm working on developing both right now.

andersenws
"Youth is the trustee of prosperity." - Benjamin Disraeli
  • #8
  • Mar 1, 2007 4:09pm Mar 1, 2007 4:09pm
hi andersenws,
ive got the attached indcator, its called the hull trend, but it doesnt open in my charts. could you post yours for me please?
Attached File(s)
File Type: mq4 #MTF_HULL_TREND.mq4   3 KB | 1,995 downloads
  • #9
  • Mar 1, 2007 4:35pm Mar 1, 2007 4:35pm
Quoting zawodowiec
Hi,
I've got a question. I've noticed on another forum a guy is using what he calls momentum bars or range bars. The attached chart shows what these look like. It looks really neat. I haven't had any luck finding such indicator for MT4, the closest thing is the Heiken Ashi candles, but that doesn't even come close to the range bars (I'm not exactly sure that this is the name of this indicator either, hopefully someone here knows what it really is). All answers will be appreciated!
The range bars have nothing to do with Heiken Ashi or Hull MA for that matter. In essence the range bars are the same as regular bars but instead of using the time for when to close/open a candle they use a certain number of pips. When you choose to have them on your chart (if your charting software has them) you have a setting for the size of the range bar. If you choose let's say 20 pips then a new candle will be generated only if the price exceeds 20 pips within that particular candle. So if the market is stuck in a 15 pip range for 5 hours you will not get a new candle for those 5 hours. The range bars help identify trends better since they remove much of the chop. HTH
Stubbornly persistent
  • #10
  • Mar 1, 2007 4:49pm Mar 1, 2007 4:49pm
I'm having trouble getting this to open. I "compiled" it but that didn't seem to work. Any comments? Thanks


Quoting zawodowiec
hi andersenws,
ive got the attached indcator, its called the hull trend, but it doesnt open in my charts. could you post yours for me please?
"Loss and failure are inevitable but misery is optional"
  • #11
  • Mar 1, 2007 5:38pm Mar 1, 2007 5:38pm
Tick charts use a predetermined number of pips for the formation of candles, while range (or momentum bars) take into consideration both a constant range and volume to form candles.
  • #12
  • Mar 1, 2007 6:20pm Mar 1, 2007 6:20pm
Sorry for the late reply. I don't know if these are what the original poster is referring to, I simply looked through my indicators and found this one which seems to accomplish the same thing. I've attached the indicator I use and a picture of it applied.

andersenws
Attached Image
Attached File(s)
File Type: mq4 Hull_Trend.mq4   3 KB | 2,671 downloads
"Youth is the trustee of prosperity." - Benjamin Disraeli
  • #13
  • Mar 1, 2007 7:30pm Mar 1, 2007 7:30pm
Quoting zawodowiec
Hi,
I've got a question. I've noticed on another forum a guy is using what he calls momentum bars or range bars. The attached chart shows what these look like. It looks really neat. I haven't had any luck finding such indicator for MT4, the closest thing is the Heiken Ashi candles, but that doesn't even come close to the range bars (I'm not exactly sure that this is the name of this indicator either, hopefully someone here knows what it really is). All answers will be appreciated!

Which forum, and what is the link to the thread where you found this? Can anyone tell which platform and/or broker the chart is from?
  • #14
  • Mar 1, 2007 8:33pm Mar 1, 2007 8:33pm
Quoting zawodowiec
hi andersenws,
ive got the attached indcator, its called the hull trend, but it doesnt open in my charts. could you post yours for me please?
hi zawodowiec,

what u had attached here is the MTF (multi time frame) type...u need the same indicator but non MTF type attached together to make this work well.

for example, :

MTF Hull Trend.mq4 need Hull Trend.mq4 to make the MTF work.

but if u just want to work with the Hull Trend.mq4, u didnt need the MTF.

hope this help.
  • #15
  • Mar 1, 2007 9:07pm Mar 1, 2007 9:07pm
Quoting andersenws
Sorry for the late reply. I don't know if these are what the original poster is referring to, I simply looked through my indicators and found this one which seems to accomplish the same thing. I've attached the indicator I use and a picture of it applied.

andersenws
Thanks for the indicator! While it is not quite the same as on that first chart, I noticed it looks really good on the 4 hour charts. Take a look
Attached Image
  • #16
  • Mar 1, 2007 9:09pm Mar 1, 2007 9:09pm
Quoting eagle4x
Which forum, and what is the link to the thread where you found this? Can anyone tell which platform and/or broker the chart is from?
It found it in the elitetrader forum, in the journals section, the name of the journal is Jasper's last stand.
  • #17
  • Mar 1, 2007 9:10pm Mar 1, 2007 9:10pm
Quoting CandlePower
hi zawodowiec,

what u had attached here is the MTF (multi time frame) type...u need the same indicator but non MTF type attached together to make this work well.

for example, :

MTF Hull Trend.mq4 need Hull Trend.mq4 to make the MTF work.

but if u just want to work with the Hull Trend.mq4, u didnt need the MTF.

hope this help.
Im having a hard time understanding what you wrote here. Id appreciate it if you could clarify this a little bit for me. LOL
  • #18
  • Mar 1, 2007 10:55pm Mar 1, 2007 10:55pm
All the MTF indicators I have ever used have always repainted.


Quoting CandlePower
hi zawodowiec,

what u had attached here is the MTF (multi time frame) type...u need the same indicator but non MTF type attached together to make this work well.

for example, :

MTF Hull Trend.mq4 need Hull Trend.mq4 to make the MTF work.

but if u just want to work with the Hull Trend.mq4, u didnt need the MTF.

hope this help.
  • #19
  • Mar 1, 2007 11:03pm Mar 1, 2007 11:03pm
I looked in the elitetrader forum and the software jasper used was Ensign:
http://www.ensignsoftware.com/index.htm

Looks to me far superior that the MT4 indicators posted here. However, ensign costs about $40/mo. However, doesn't look like their signals can
be autotraded.

In my opinion, the momemtum bars looks more like 3linebreak that I mentioned in one of my other ff posts.


Quoting zawodowiec
It found it in the elitetrader forum, in the journals section, the name of the journal is Jasper's last stand.
  • #20
  • Mar 1, 2007 11:43pm Mar 1, 2007 11:43pm
Check this out!

http://powerswings.com/2006/11/11/po...s-for-esignal/


Any of you guys use eSignal?
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