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Attachments: Momentum Bars
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Momentum Bars

  • #21
  • Quote
  • Mar 2, 2007 1:35am Mar 2, 2007 1:35am
Please post the indicator. Thanks


Quoting zawodowiec
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
"Loss and failure are inevitable but misery is optional"
  • #22
  • Quote
  • Mar 2, 2007 2:18am Mar 2, 2007 2:18am
Quoting zawodowiec
Im having a hard time understanding what you wrote here. Id appreciate it if you could clarify this a little bit for me. LOL
LOL...sorry...english is not my language...pardon me

below is yur post,
Quote
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?
why the indicator doesnt open in yur chart ?....thats because u only use the MTF (Multi Time Frame) type indicator. MTF type indicator only work if u have another same indicator but not from the MTF family.

So, u should have "Hull Trend.mq4" inorder to make "MTF Hull Trend.mq4" appeared in yur chart.

hope this help u & sorry again for my bad english.LOL

candlepower
  • #23
  • Quote
  • Mar 2, 2007 2:32pm Mar 2, 2007 2:32pm
Quoting eagle4x
Check this out!

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


Any of you guys use eSignal?
I think that's exactly what this guy is using. It looks sweet. But 1300$?? Damn! Thanks for the link
  • #24
  • Quote
  • Mar 2, 2007 2:34pm Mar 2, 2007 2:34pm
Quoting carmel
Please post the indicator. Thanks
Check these out, they all appear to be very similar.
Attached File(s)
File Type: mq4 3Line_Break.mq4   3 KB | 1,017 downloads
File Type: mq4 Hull_Trend.mq4   3 KB | 928 downloads
File Type: mq4 ttm-trend.mq4   3 KB | 1,169 downloads
  • #25
  • Quote
  • Mar 2, 2007 2:35pm Mar 2, 2007 2:35pm
Quoting CandlePower
LOL...sorry...english is not my language...pardon me

below is yur post,
why the indicator doesnt open in yur chart ?....thats because u only use the MTF (Multi Time Frame) type indicator. MTF type indicator only work if u have another same indicator but not from the MTF family.

So, u should have "Hull Trend.mq4" inorder to make "MTF Hull Trend.mq4" appeared in yur chart.

hope this help u & sorry again for my bad english.LOL

candlepower
Alright, now I get it. Thanks for clarifying!
  • #26
  • Quote
  • Mar 2, 2007 3:19pm Mar 2, 2007 3:19pm
A trader friend of mine purchased powertools for his tradestation platform after I sent him the link yesterday. I'll post here how it performs after he
sets it up and trades it some.



Quoting zawodowiec
I think that's exactly what this guy is using. It looks sweet. But 1300$?? Damn! Thanks for the link
  • #27
  • Quote
  • Mar 2, 2007 3:22pm Mar 2, 2007 3:22pm
Quoting eagle4x
A trader friend of mine purchased powertools for his tradestation platform after I sent him the link yesterday. I'll post here how it performs after he
sets it up and trades it some.
Awesome, let us know how that goes.
  • #28
  • Quote
  • Mar 2, 2007 6:15pm Mar 2, 2007 6:15pm
Zaw,

I don't kow if this is what you're referring to, but a guy named Danton Steven Long created what he calls M-Bars, short for Momentum Bars, a few years ago. I first read about it in the Sept '03 issue of SFO magazine. The bars of his chart are created using a fixed price range for each bar, selectable by the user. For example, if you had a .75 range, a new bar would be generated when the price moved one cent greater than 75, up or down. There is no time frame, it's purely based on price movement. As it applies to forex, I guess you can substitute pips for price. (If I remeber correctly Danton applied for a patent to his M-Bars).

The chart you posted is not clear enough to see if this is the same m-bar. I don't know of any pre-packaged charting programs that can plot this, but then again I haven't looked lately. Some users of Tradestation were working on programming this, but again, I don't know how they made out.

M-bars are similar to point and figure charting, except you don't have the huge swings on reversals.

The article was very very interesting, and if there is a charting program out there that will plot similar bars, I would like to try them myself.

Here's a link to the SFO article.

http://www.sfomag.com/homefeaturedet...ry&YearID=2003

Look for the article titled "Paradigm Shift Lights the Way to Momentum Bars".

Let me know what you think.

CarlC
  • #29
  • Quote
  • Mar 2, 2007 6:34pm Mar 2, 2007 6:34pm
Thanks for the link, I'll definitely have a look at this over the weekend.
  • #30
  • Quote
  • Mar 2, 2007 6:38pm Mar 2, 2007 6:38pm
Can someone explain what is the momentum bars? To me, if the market is trending well, of course, you will see such charts as posted here. But what if the market is in a range or consolidation, then what should I see? Wouldn't the bars look like its range bound also?
  • #31
  • Quote
  • Mar 2, 2007 10:47pm Mar 2, 2007 10:47pm
et, see my post above, and click on the link to read the article about momentum bars in SFO Magazine.

Again, I don't know if the momentum bars in the article are the same as originally posted on this board.

The momentum bars I've read about are based purely on a fixed range of price movement, up or down. Let's take for example the Euro/Dollar. First we tell the chart at what change in pips we want to generate a new bar. Say you define that as 4 pips. If the price at the beginning of the trading day starts at 1.3110, a new bar would not start until a trade of 1.3115 to the upside or or 1.3105 to the downside. At that point in time the previous bar would be from either 1.3110 to 1.3114 (upbar) or 1.3110 to 1.3106 (downbar). There is no open/hi/lo/close to speak of, just an open and close. It either opens and closes at a 4 pip hi or lo from the open. Time is not a factor. If it takes a minute, an hour, or a day to move 4 pips, the bar is not generated until the 5th pip hi or low.

As for sideways action, m-bars can remove most of that by setting higher price/pip ranges. Again, since m-bars don't depend on time or ticks, it's only when the price moves beyond the range you set that the bar moves.

Unfortunately, I don't know of any charting programs that chart m-bars, so this whole lesson may be moot. Perhaps someone here does?

Again, read the SFO article, and I think the picture will be clearer. (Yes, they do have a m-bar chart in the article).

http://www.sfomag.com/homefeaturedet...ry&YearID=2003

CarlC
  • #32
  • Quote
  • Mar 12, 2007 6:44pm Mar 12, 2007 6:44pm
Quoting CarlC
Unfortunately, I don't know of any charting programs that chart m-bars, so this whole lesson may be moot. Perhaps someone here does?
You should check out neoticker, they support momentum bars as well as quite a few other rarely supported bars. Plus it's a great platform.
  • #33
  • Quote
  • Mar 22, 2007 8:27am Mar 22, 2007 8:27am
Recently bumped into Range Bars/Momentum Bars also myself. Curious if anyone has any other info on them. I have found some info online saying where you should look for the optimum length range bar depending on what you are trading. However curious if/how they could be utilized.
  • #34
  • Quote
  • Mar 22, 2007 10:27am Mar 22, 2007 10:27am
As someone mentioned before, range bars have nothing to do with a Hull moving average. I've been looking for a way to get range bars in MT4 for a while, but I don't know where to begin coding something like that. I've been told by MT's programmers that it is possible though.

It's not difficult to understand how they work. Basically, you set a range, for example 10 pips. As soon as price moves in a range of 10 pips, that bar is closed and a new one begins. It completely eliminates the time factor, and less bars are formed during periods of low volitility. I think they would work especially well in forex. I just wish someone was willing to code them.
  • #35
  • Quote
  • Mar 22, 2007 11:00am Mar 22, 2007 11:00am
Quoting aegis
As someone mentioned before, range bars have nothing to do with a Hull moving average. I've been looking for a way to get range bars in MT4 for a while, but I don't know where to begin coding something like that. I've been told by MT's programmers that it is possible though.

It's not difficult to understand how they work. Basically, you set a range, for example 10 pips. As soon as price moves in a range of 10 pips, that bar is closed and a new one begins. It completely eliminates the time factor, and less bars are formed during periods of low volitility. I think they would work especially well in forex. I just wish someone was willing to code them.
Yes Im curious to see what/how some people may be using them if they are with forex.
  • #36
  • Quote
  • Mar 22, 2007 5:39pm Mar 22, 2007 5:39pm
Isn't it just called a Renko chart? If so, it is included in Accucharts by FXSol.

andersenws
"Youth is the trustee of prosperity." - Benjamin Disraeli
  • #37
  • Quote
  • Mar 22, 2007 8:40pm Mar 22, 2007 8:40pm
Quoting andersenws
Isn't it just called a Renko chart? If so, it is included in Accucharts by FXSol.

andersenws
It's nothing like renko. Renko charts are still time based, and it only forms a bar when price goes X number of pips in only one direction.
  • #38
  • Quote
  • Mar 22, 2007 9:16pm Mar 22, 2007 9:16pm
Quoting aegis
It's nothing like renko. Renko charts are still time based, and it only forms a bar when price goes X number of pips in only one direction.
Really?
from Investopedia.com:
Quote
A type of chart, developed by the Japanese, that is only concerned with price movement; time and volume are not included. It is thought to be named for the Japanese word for bricks, "renga". A renko chart is constructed by placing a brick in the next column once the price surpasses the top or bottom of the previous brick by a predefined amount. White bricks are used when the direction of the trend is up, while black bricks are used when the trend is down. This type of chart is very effective for traders to identify key support/resistance levels. Transaction signals are generated when the direction of the trend changes and the bricks alternate colors.
Sounds like your previous post:
Quote
It's not difficult to understand how they work. Basically, you set a range, for example 10 pips. As soon as price moves in a range of 10 pips, that bar is closed and a new one begins. It completely eliminates the time factor, and less bars are formed during periods of low volitility. I think they would work especially well in forex. I just wish someone was willing to code them.
andersenws
"Youth is the trustee of prosperity." - Benjamin Disraeli
  • #39
  • Quote
  • Mar 22, 2007 10:38pm Mar 22, 2007 10:38pm
Renko for MT4.
Attached File(s)
File Type: mq4 RENKO_2.mq4   9 KB | 1,195 downloads
  • #40
  • Quote
  • Mar 23, 2007 12:22am Mar 23, 2007 12:22am
Quoting andersenws
Really?
from Investopedia.com:

Sounds like your previous post:

andersenws
I think you need to do more research. Even with Renko charts, you still set a time frame. A bar is not formed until the bar closes on that time frame AND price moves X number of pips in ONE direction. With range bars, price can move X number of pips either direction, hence the name "range" bar, and a bar is not formed until that range is filled. Thus, time is not a factor. Only range is a factor.
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