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Nexas's Intraday Range Bar Trading

  • #561
  • Mar 1, 2012 3:23pm Mar 1, 2012 3:23pm
Quoting kadiddle
Just curious, is this a 4 or 8 range chart?
Neither. I use a 5pip range chart. Works best for A/U. Size of range bar easy to work out. I used to trade 5 min charts. So I put ATR indi on 5 min chart set to 100. Came up with 5. Hey Presto! Works like a charm.
Just trade the pullback you idiot!
  • #562
  • Mar 1, 2012 8:48pm Mar 1, 2012 8:48pm
Quoting Batavier
Neither. I use a 5pip range chart. Works best for A/U. Size of range bar easy to work out. I used to trade 5 min charts. So I put ATR indi on 5 min chart set to 100. Came up with 5. Hey Presto! Works like a charm.
++++++++++++++++++++++++++++++++

Awesome, Thanks
  • #563
  • Mar 1, 2012 10:20pm Mar 1, 2012 10:20pm
Greeting Nex & BataVier, nyc system Batavier please can you explain more on which orther indicators you use to trade with your system? I have attached to the cart and it comes up with the top and bottom lines. I have attached to range bar setting 5. Is this correct. How do I trade the system?
  • #564
  • Mar 2, 2012 12:07am Mar 2, 2012 12:07am
Quoting wicked forex
Greeting Nex & BataVier, nyc system Batavier please can you explain more on which orther indicators you use to trade with your system? I have attached to the cart and it comes up with the top and bottom lines. I have attached to range bar setting 5. Is this correct. How do I trade the system?
My System is different to Nexas. Thanks Nexas for allowing us to put other methods in your thread.

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. If MA goes flat = sideways no trend no trade. Stop when your profit target for the day is reached and go play.

Take a look at my picture. Here's how I traded the Asian market today.

Range bars set to 5. Just use standard MT4 moving average 3 set to close and shift by 3.

Note line A. Market making higher lows = uptrend.
See number 1. Green bar closed above 3X3MA. Buy at red line. SL at magenta X. Take profit when bar closes other side of 3X3Ma yellow line. 13pips

See number 2. Market still making higher lows = uptrend. Green bar closes above 3X3MA. Buy at red line. Sl at magenta X. Exit market at next yellow line. Break even trade.

Note Line B. Now a lower High = downtrend.

See number 3. Sell trade at red line (took me a moment to do was still closing previous trade, you do need to pay close attention to the market!) SL at magenta X. Exit at yellow line as green bar closed above 3X3MA. 4 pips

You need no other indicators. Let your eyes tell you what's going on. If you can't see hi's lo's put a fractal indi (standard MT4 indi) on your chart, or a semafor(search FF it's here.)

I trade A/U because it suits my lifestyle I'm awake during Asian hours. Also it is active in all markets.
Attached Image (click to enlarge)
Click to Enlarge Name: trades explained.gif Size: 23 KB
Just trade the pullback you idiot!
  • #565
  • Mar 2, 2012 4:44am Mar 2, 2012 4:44am
Quoting Batavier
Note line A. Market making higher lows = uptrend.

Note Line B. Now a lower High = downtrend.
Not sure I follow the logic here. At point 3 you used the last two highs to determine market direction. At point 1, you ignored many other highs and lows. In fact, at point 1, the market had just made a lower high and a lower low. Given your logic at point 3, how is point 1 an uptrend?

What's the rationale for ignoring certain highs and lows and switching focus from long term trends to short term trends and back?

Since point 2 involved a higher low, from not only point 1 but all other lows on the chart, why isn't that now an uptrend?

Attached Image (click to enlarge)
Click to Enlarge Name: mar 2.JPG Size: 59 KB
  • #566
  • Mar 2, 2012 9:59am Mar 2, 2012 9:59am
Quoting Batavier
My System is different to Nexas. Thanks Nexas for allowing us to put other methods in your thread.

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. If MA goes flat = sideways no trend no trade. Stop when your profit target for the day is reached and go play.

Take a look at my picture. Here's how I traded the Asian market today.

Range bars set to 5. Just use standard MT4 moving average...
Not sure either is to which higher lows you are speaking. I think you're talking about the 3m.a. having higher lows for a long entry. The only problem with this is since you have the 3 sma shifted right by 3, it will take 3 bars beyond your entry to confirm you actually are going to have a higher low on the average. If you're talking about higher lows on the bars then I really don't understand your long entry at 1 either.
  • #567
  • Mar 2, 2012 10:55am Mar 2, 2012 10:55am
Okay, I spent all day yesterday looking at this and decided to go forward with live forward test. Todays results were 6/7 positive trades. Total pips gained were 53 pips.

Nexas, again thank you for being so helpful.
PIP'N
  • #568
  • Mar 2, 2012 12:24pm Mar 2, 2012 12:24pm
Quoting golferguy99
Okay, I spent all day yesterday looking at this and decided to go forward with live forward test. Todays results were 6/7 positive trades. Total pips gained were 53 pips.

Nexas, again thank you for being so helpful.
++++++++++++++++++++++++++++++++

Xlnt GG99. Today was an almost perfect storm for this trade.

I am never up during the London session but I was every day this week except today. I was just too tired to stay up.

This is what Nexas means by taking full advantage of days like this.
Feel free to forward some of those pips this way...
  • #569
  • Mar 2, 2012 7:22pm Mar 2, 2012 7:22pm
Quoting kadiddle
Not sure either is to which higher lows you are speaking. I think you're talking about the 3m.a. having higher lows for a long entry. The only problem with this is since you have the 3 sma shifted right by 3, it will take 3 bars beyond your entry to confirm you actually are going to have a higher low on the average. If you're talking about higher lows on the bars then I really don't understand your long entry at 1 either.
I see your problems. I've been watching charts for a long time now. Instinct is now part of my trading. Helps me decide when to focus on long term trend or short term fluctuations. I'm basically a scalper by nature. Entry at 1 was market open for me. Saw overall trend was up. Expected this to continue. Why? If you shrink your chart and look left there was for me an obvious resistance zone that had not been broken effectively downward hence expected a rally, break up of 3X3MA confirmed this for me. 2nd trade also bounced of a resistance zone. 3rd trade lower hi (hi's lo's of price not 3MA) demonstrated weakness and possible trend change. (zone for me can be 5 to 10 pips wide, ie up to 2 bars deep. not an exact science)

Support and resistance is easier to see if you make your screen into a line chart, you'll see the bounces. See attached piccy I've drawn a white line at the zone I noticed for trade 1. I often flick back and forth between bars and line chart to get a different perspective.

There is method in my trading madness. Just information that I assume and don't even consciously think about, almost like driving after many years. You just do it. Another analogy, trading is like some paintings in the gallery, stand back squint a little and it all makes perfect sense.

Blessings to all. Monday brings a whole new week of opportunity your way, keep at it practice makes perfect..
Attached Image (click to enlarge)
Click to Enlarge Name: resistance level.gif Size: 19 KB
Just trade the pullback you idiot!
  • #570
  • Mar 4, 2012 4:42am Mar 4, 2012 4:42am
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...

Greetings, how do you trade this with, i.e by adding a pending orders once triggered it becomes pips?
  • #571
  • Mar 4, 2012 4:43am Mar 4, 2012 4:43am
Quoting Batavier
I see your problems. I've been watching charts for a long time now. Instinct is now part of my trading. Helps me decide when to focus on long term trend or short term fluctuations. I'm basically a scalper by nature. Entry at 1 was market open for me. Saw overall trend was up. Expected this to continue. Why? If you shrink your chart and look left there was for me an obvious resistance zone that had not been broken effectively downward hence expected a rally, break up of 3X3MA confirmed this for me. 2nd trade also bounced of a...
Hi B, thanks for the explanation, I am still confused, my sincere apologies any help with the basics http://www.forexfactory.com/images/icons/icon9.gif???
  • #572
  • Mar 4, 2012 5:23pm Mar 4, 2012 5:23pm
Quoting wicked forex
Hi B, thanks for the explanation, I am still confused, my sincere apologies any help with the basics http://www.forexfactory.com/images/icons/icon9.gif???
for basics go to http://www.babypips.com/school/
Just trade the pullback you idiot!
  • #573
  • Mar 5, 2012 6:14am Mar 5, 2012 6:14am
Well after my good day on Friday, off to a rough start today. I made some errors in trades taken, ie not with trend and not clean retracements. Lets see what the rest of the session can bring.
PIP'N
  • #574
  • Edited Mar 6, 2012 2:14am Mar 5, 2012 11:30pm | Edited Mar 6, 2012 2:14am
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...
Hello Wf,

I trade with range bar chart,Your indi seems very interesting and importent as we know charecterstics of range bar.I used your Indi,i think is not working properly on my chart,please check and please tell me what would be wrong on my chart.My R bar size is 10.
Attached Image
  • #575
  • Mar 6, 2012 5:18am Mar 6, 2012 5:18am
Quoting Joyy
Hello Wf,

I trade with range bar chart,Your indi seems very interesting and importent as we know charecterstics of range bar.I used your Indi,i think is not working properly on my chart,please check and please tell me what would be wrong on my chart.My R bar size is 10.
What symbol are you using? I'm not sure how it could be wrong since it is taking the actual size of the previous bar and using it to calculate the distance of the lines. Did you drop the indicator on the chart after setting the bars?

Attached is a version that will print the current range bar size to the Experts log so that you can see if the value makes sense.

George
Attached File(s)
File Type: mq4 RangeBarLimits.mq4   3 KB | 301 downloads
  • #576
  • Mar 6, 2012 7:37am Mar 6, 2012 7:37am
Quoting wfh2006
What symbol are you using? I'm not sure how it could be wrong since it is taking the actual size of the previous bar and using it to calculate the distance of the lines. Did you drop the indicator on the chart after setting the bars?

Attached is a version that will print the current range bar size to the Experts log so that you can see if the value makes sense.

George
Symbol is EUROUSD,yes I droped the indi after setting the bar.Is there any other procedure,please tell
Attached Image (click to enlarge)
Click to Enlarge Name: range bar limi1t.jpg Size: 87 KB
  • #577
  • Mar 6, 2012 9:02am Mar 6, 2012 9:02am
Quoting Joyy
Symbol is EUROUSD,yes I droped the indi after setting the bar.Is there any other procedure,please tell
What value printed in your experts log?

I've attached another version that allows you to manually set the range bar size. You have to set it in pips/points, not as the integer pip value. For example, 10 pips on a 5 digit broker would be 0.001. If you leave it at 0.0, it will calculate the pip value as before.

George
Attached File(s)
File Type: mq4 RangeBarLimits.mq4   3 KB | 322 downloads
  • #578
  • Edited 7:34pm Mar 6, 2012 7:15pm | Edited 7:34pm
Quoting wfh2006
What value printed in your experts log?

I've attached another version that allows you to manually set the range bar size. You have to set it in pips/points, not as the integer pip value. For example, 10 pips on a 5 digit broker would be 0.001. If you leave it at 0.0, it will calculate the pip value as before.

George
Yes,now properly working, Exlant ,Thank you George.
  • #579
  • Mar 6, 2012 10:06pm Mar 6, 2012 10:06pm
So here is my results from Tuesdays trading. I was 3/8 for -9 pips.

I have attached pictures of both the 5 bar and 8 bar charts with arrows of trades taken.

In addition to Nexas trades I also take 123 trades either direction.

Nexas, I hope you don't stay away to long.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU 5 Bar.jpg Size: 113 KB
Click to Enlarge Name: EU 8 Bar.jpg Size: 103 KB
PIP'N
  • #580
  • Mar 7, 2012 2:40am Mar 7, 2012 2:40am
Hi golferguy please explain the trades in detail if you have the time,still can't xomprehend how u started the trades also explain 123 method.your assistance will be highly thanked.
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