Range bars - anyone trading them? | Forex Factory

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Range bars - anyone trading them?

  • #1
  • First Post: Apr 21, 2010 1:40pm Apr 21, 2010 1:40pm
Attached is a 15 pip size range bar chart for Gbp/Usd.

Range bars eliminate a lot of noise and are far better than renko bars in my opinion.

I am curious if anyone is using range bars to trade with ?
What strategy or indicators do you use ?
Attached Image (click to enlarge)
Click to Enlarge Name: range bars gbpusd.jpg Size: 193 KB
  • #2
  • Apr 21, 2010 2:21pm Apr 21, 2010 2:21pm
Could you point out at "range bar" because like rest of us, I only see candlestick price action and MACD indicator.
  • #3
  • Apr 21, 2010 2:24pm Apr 21, 2010 2:24pm
A range bar is a candlestick/bar, but rather than being measured in time or ticks, it has a defined size. Example, a 10 pip range candle will stay current until it covers a 10 pip range, and once price moves another pip, the new candle is started. See how all of the candles in his chart are the same height?
  • #4
  • Apr 21, 2010 2:28pm Apr 21, 2010 2:28pm
Quoting Jhig
Could you point out at "range bar" because like rest of us, I only see candlestick price action and MACD indicator.
If I am not mistaken, all the candles you see represent 15 pips movement - it can be seen by the time scale on the bottom of the chart. One of those bars finishes only after a movement of 15 pips - however long that may take (quick during UK/US session and slow during Asian session, I guess).

regards
daytrading
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  • #5
  • Apr 21, 2010 2:44pm Apr 21, 2010 2:44pm
Quoting globalinvest

Range bars eliminate a lot of noise and are far better than renko bars in my opinion.
Why are range bars better than Renko?
  • #6
  • Apr 21, 2010 3:00pm Apr 21, 2010 3:00pm
I notice that your screenshot is from metatrader with offline charts. Is there some way to get MT4 to show "range bars"? Or did you use another program to compile tick data into a custom database, and then point MT4 to that custom data?
  • #7
  • Apr 21, 2010 4:53pm Apr 21, 2010 4:53pm
Globalinvest, would you please attach the Range bar indicator or the EA?

It seems to me that it generates an offline chart through an EA just like Renko does.

Thanks.
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  • #8
  • Apr 21, 2010 5:56pm Apr 21, 2010 5:56pm
Range based bars/candles show turning points clearer than time based candles/ OHLC bars IMO.
They are better than renko, because renko does not show what is happening exactly within each box, but range bars do, just like the time based ones.

I use them, because they show purer PA than the time based ones.
But it is better to use both side-by-side, because for certain strategies it is important to be able to see and estimate time.
  • #9
  • Apr 21, 2010 11:24pm Apr 21, 2010 11:24pm
Quoting antonioforex
Globalinvest, would you please attach the Range bar indicator or the EA?

It seems to me that it generates an offline chart through an EA just like Renko does.

Thanks.
Sorry. I bought the script / indicator for the range bars so can not share it here.

Why range bars are better than renko ? With renko - for a reverse brick to form quite some pip movement is needed. See how renko is constructed. With range bars losses can usually be limited.
  • #10
  • Apr 22, 2010 5:35am Apr 22, 2010 5:35am
Hi GlobalInvest,

Who did you buy the indicator from?

Steve


Quoting globalinvest
Sorry. I bought the script / indicator for the range bars so can not share it here.

Why range bars are better than renko ? With renko - for a reverse brick to form quite some pip movement is needed. See how renko is constructed. With range bars losses can usually be limited.
  • #11
  • Apr 22, 2010 6:44am Apr 22, 2010 6:44am
Quoting dawsonsg
Hi GlobalInvest,

Who did you buy the indicator from?

Steve
Donīt know if I can write the link here and advertise on this forum.
Will send you a private message.
  • #12
  • Apr 22, 2010 7:21am Apr 22, 2010 7:21am
Maybe this one works fine for you....

http://www.forex-tsd.com/metatrader-...tml#post196348
  • #13
  • Apr 22, 2010 7:32am Apr 22, 2010 7:32am
Thank you for the link.

You can also find in there the provider for the the range bar script.
There is also a free range bar script on the first page, however it did not work properly for me.
I loaded a 15 pip range bar chart and many bars had different lengths.

Just came across this thread:

http://www.forexfactory.com/showthread.php?t=185118

Looks like for medium-term and long-term trading a cci of 300 or more can work out. Tight stop losses and letting profits run with a trailing stop.
  • #14
  • May 11, 2010 12:09pm May 11, 2010 12:09pm
range bars - 10 pip size
Attached Image(s) (click to enlarge)
Click to Enlarge Name: range bars 20 and 50 ema.jpg Size: 200 KB
Click to Enlarge Name: range bars 20 and 50 ema zoomed out.jpg Size: 202 KB
  • #15
  • May 11, 2010 12:14pm May 11, 2010 12:14pm
range bars - 15 pip size
Attached Image(s) (click to enlarge)
Click to Enlarge Name: range bars 15 pip size 1.jpg Size: 203 KB
Click to Enlarge Name: range bars 15 pip size 2.jpg Size: 197 KB
  • #16
  • May 11, 2010 4:22pm May 11, 2010 4:22pm
hi global,

thanks for the pics.

right click on the 20 exp ma to get the properties box, then select levels, then add 150 and -150, this means you will get 3 ma's based on the 20 ma.

please post a pic of cable as they work better on that pair.

thankyou J
  • #17
  • May 12, 2010 1:16am May 12, 2010 1:16am
there you go
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd 15 pip size range bar with 20 ema.jpg Size: 212 KB
Click to Enlarge Name: gbpusd 15 pip size range bar with 20 ema 2.jpg Size: 220 KB
  • #18
  • May 12, 2010 3:18pm May 12, 2010 3:18pm
thanks global, appreciate your help. looks the way i thought it would.

regards Jason
  • #19
  • Jun 21, 2010 4:29pm Jun 21, 2010 4:29pm
Is anybody else trading with range bars at all ?
  • #20
  • Jul 30, 2010 3:20pm Jul 30, 2010 3:20pm
Yep.

15 Range on GBP/USD

Quoting globalinvest
Is anybody else trading with range bars at all ?
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