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Nexas's Intraday Range Bar Trading

  • #541
  • Feb 26, 2012 3:10pm Feb 26, 2012 3:10pm
Hi Nexas. A question on stops. I understand the 2 pip under last swing as the norm. My question is, is there a Minimum SL to be respected? Same question regarding whether 4 or 8 range.
Thanks,
Darryl
  • #542
  • Feb 27, 2012 12:29am Feb 27, 2012 12:29am
Hi Diamonddbw,

I think you have a pretty good grasp of the system. Both of the two that you are querying make sense. Granted they aren't as clean but you do have the MA's lined up and the retracements aren't too deep.

I think you know what you are doing :-)

Nexas

Quoting diamonddbw
Hi Nexas, and other contributors. Thank you for this Elegant method. Have digested most of the thread. I find it awesome.

It took me a while but finally got the charts dialed in. If I could share a youtube 9m video for proper installation of the "RangeBarChart v103a" for MT4 here: http: //www.youtube.com/watch?v=slyVGh7TXGo,

it is xlnt and it even shows how to easily set up multiple pip bar charts using one 1m chart.

OK, I have reviewed todays PA and just wanted to verify that...
  • #543
  • Feb 27, 2012 12:31am Feb 27, 2012 12:31am
Quoting diamonddbw
Hi Nexas. A question on stops. I understand the 2 pip under last swing as the norm. My question is, is there a Minimum SL to be respected? Same question regarding whether 4 or 8 range.
Thanks,
Darryl
Hi Darryl,

For me I don't have a minimum, by definition, the bars themselves will ensure there is a minimum. I place 1-2 pips behind the swing as you say.

What we are looking for here is turning points in the market, back with the trend, if we are wrong we want to be out pretty quickly.

Does that make sense?

Nexas
  • #544
  • Feb 27, 2012 2:18am Feb 27, 2012 2:18am
Quoting Nexas
Hi Darryl,

For me I don't have a minimum, by definition, the bars themselves will ensure there is a minimum. I place 1-2 pips behind the swing as you say.

What we are looking for here is turning points in the market, back with the trend, if we are wrong we want to be out pretty quickly.

Does that make sense?

Nexas
++++++++++++++++++++++++++++++++

Yes, it makes perfect sense. Thanks again for sharing your discoveries.
  • #545
  • Feb 27, 2012 12:18pm Feb 27, 2012 12:18pm
Hi Nexas.

Quick question regarding entries; On this entry, I did not wait for red 8rg to close. I believe I read something similar in an earlier post of yours. I entered once the bar had cleared the trend line, just barely.

My thoughts being that this was the only significant retrace in hours and that price would surely come crashing down afterwords. As you can see, it didn't.

Which brings me to this point; I lost this trade to the tune of 7 pips. Are you kidding me? That's hardly a ripple. Thanks again for sharing.
Darryl
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 115.png Size: 18 KB
  • #546
  • Feb 28, 2012 8:55pm Feb 28, 2012 8:55pm
Thanks Nexas for the great simple system. I've been using range bars for a year or so and wouldnt trade with any other chart.

Does anyone know of a MT4 range bar indicator that has an Email alert in it? I trade larger range bars in my main system but would like to have an email alert when a new candle appears. I'll share my range bar system if anyone is interested.

Thanks to all.
  • #547
  • Feb 28, 2012 10:44pm Feb 28, 2012 10:44pm
Quoting outlaw118
Thanks Nexas for the great simple system. I've been using range bars for a year or so and wouldnt trade with any other chart.

Does anyone know of a MT4 range bar indicator that has an Email alert in it? I trade larger range bars in my main system but would like to have an email alert when a new candle appears. I'll share my range bar system if anyone is interested.

Thanks to all.
why not bro you should share your system with us so may we learn another good system and makes more improvement
  • #548
  • Feb 29, 2012 12:39am Feb 29, 2012 12:39am
Hi Outlaw,

Thank you for your post and welcome to the thread.

Yes of course please feel free to post your system.

Nexas
  • #549
  • Edited 10:22pm Feb 29, 2012 8:45am | Edited 10:22pm
Quoting outlaw118
Thanks Nexas for the great simple system. I've been using range bars for a year or so and wouldnt trade with any other chart.

Does anyone know of a MT4 range bar indicator that has an Email alert in it? I trade larger range bars in my main system but would like to have an email alert when a new candle appears. I'll share my range bar system if anyone is interested.

Thanks to all.
Here's what I use. It's compatible with range bars. Hope it helps.

And by the way, congratulation Nexas on an excellent approach, as well as a big thank you to others for sharing your insights and techniques on range bars.
Attached File(s)
File Type: mq4 NewBar w Email.mq4   1 KB | 432 downloads
  • #550
  • Feb 29, 2012 9:17am Feb 29, 2012 9:17am
Attached is an indicator I threw together that plots four horizontal lines on the chart, two above and two below current price. They mark the location where a new bar will open (and where the bar after that will open assuming it continues in the same direction). They slide up and down as the size of the current bar changes.

I use it so that I can better anticipate the opening of the new bar as well as to see where that open will be in relation to other indicators on the chart.

Attached Image


The code looks to see what size your range bars are by examining the previous bar, so if you change the range bar size you'll need to remove the indicator and re-add it.

George
Attached File(s)
File Type: mq4 RangeBarLimits.mq4   3 KB | 452 downloads
  • #551
  • Feb 29, 2012 12:58pm Feb 29, 2012 12:58pm
Quoting wfh2006
Attached is an indicator I threw together that plots four horizontal lines on the chart, two above and two below current price. They mark the location where a new bar will open (and where the bar after that will open assuming it continues in the same direction). They slide up and down as the size of the current bar changes.

I use it so that I can better anticipate the opening of the new bar as well as to see where that open will be in relation to other indicators on the chart.

Attachment

The code looks to see what size your range...
++++++++++++++++++++++++++++++++
Pretty cool WF. Nice work. Anything else that you have just "Thrown Together"?
  • #552
  • Mar 1, 2012 3:29am Mar 1, 2012 3:29am
Put a simple 3 bar MA (set to close and shift it 3) on your chart. If the bar crosses the MA and closes the correct color take the trade. Scalping at it's most simple. SL behind the signal bar. TP up to you. (semafor just to keep an eye on hi's and lo's) If MA goes flat = sideways no trend no trade. Stop when your profit target for the day is reached and go play.
Attached Image (click to enlarge)
Click to Enlarge Name: range bars 3x3 ma.gif Size: 22 KB
Just trade the pullback you idiot!
  • #553
  • Mar 1, 2012 9:16am Mar 1, 2012 9:16am
Great and interesting system here. I will be following along and demoing this method.

Just trying to find a good range bar indicator for MT4 charts.

Nexas, just a word to you. I love that you are so willing to help and show what you have been having success with. I hope that it returns to you in kind.
PIP'N
  • #554
  • Mar 1, 2012 10:26am Mar 1, 2012 10:26am
[quote=diamonddbw;5415114]

It took me a while but finally got the charts dialed in. If I could share a youtube 9m video for proper installation of the "RangeBarChart v103a" for MT4 here: http: //www.youtube.com/watch?v=slyVGh7TXGo,
++++++++++++++++++++++++++++++++

Hi GG99
Here's range bar indie and video on how to.
Attached File(s)
File Type: ex4 RangeBarChart_v103a.ex4   21 KB | 989 downloads
  • #555
  • Mar 1, 2012 10:57am Mar 1, 2012 10:57am
Quoting Batavier
Put a simple 3 bar MA (set to close and shift it 3) on your chart. If the bar crosses the MA and closes the correct color take the trade. Scalping at it's most simple. SL behind the signal bar. TP up to you. (semafor just to keep an eye on hi's and lo's) If MA goes flat = sideways no trend no trade. Stop when your profit target for the day is reached and go play.
Just curious, is this a 4 or 8 range chart?
  • #556
  • Mar 1, 2012 11:01am Mar 1, 2012 11:01am
[quote=diamonddbw;5435118]
Quoting diamonddbw

It took me a while but finally got the charts dialed in. If I could share a youtube 9m video for proper installation of the "RangeBarChart v103a" for MT4 here: http: //www.youtube.com/watch?v=slyVGh7TXGo,
++++++++++++++++++++++++++++++++

Hi GG99
Here's range bar indie and video on how to.

Diamonddbw,

Thanks, but I have got one since then.
PIP'N
  • #557
  • Mar 1, 2012 11:57am Mar 1, 2012 11:57am
Quoting kadiddle
Just curious, is this a 4 or 8 range chart?
+++++++++

I'm pretty sure it's a 6 range, just by hover another window over his chart and comparing candle size to prices on right.
  • #558
  • Mar 1, 2012 12:36pm Mar 1, 2012 12:36pm
Quoting golferguy99
Great and interesting system here. I will be following along and demoing this method.

Just trying to find a good range bar indicator for MT4 charts.

Nexas, just a word to you. I love that you are so willing to help and show what you have been having success with. I hope that it returns to you in kind.
Thank you golferguy! I am just happy that everyone is finding it useful! :-)
  • #559
  • Mar 1, 2012 12:37pm Mar 1, 2012 12:37pm
Quoting Batavier
Put a simple 3 bar MA (set to close and shift it 3) on your chart. If the bar crosses the MA and closes the correct color take the trade. Scalping at it's most simple. SL behind the signal bar. TP up to you. (semafor just to keep an eye on hi's and lo's) If MA goes flat = sideways no trend no trade. Stop when your profit target for the day is reached and go play.
Interesting system. Simple is always best
  • #560
  • Mar 1, 2012 12:59pm Mar 1, 2012 12:59pm
Just an update to my current trades... I was stopped out of a GBPUSD trade earlier and am currently holding a long USDJPY and EURJPY with an order for a long EURUSD...

Lets see what happens.
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