Thoughts: RangeBar/RenkoBar how to do it?

hi,


would like to here from others what they think:

INTRO:

I'm starting to code a range bar indicator and came across a simple situation where I would like to have some thoughts of others.

Three rules of range bars:

Each range bar must have a high/low range that equals the specified range.
Each range bar must open outside the high/low range of the previous bar.
Each range bar must close at either its high or its low.


Read more: http://www.investopedia.com/articles...#ixzz2AmzNdRWA


POINT of consideration:

this is relevant for past data .. based on OHLC data ....

e.g. MT4 platform but probably also other trading platforms


Pre-assumption: I use some extremer values to make the point:
- RangeBar High 4pips
- assuming first bar in data calculation:

PIC:0: source past OHLC source bar
PIC:1: O= 1.29018, H=1.29228, L=1.28846, C= 1.28987

total range = 38.2pips

From Open to Low = 17.2 pips
From Open to High = 21 pips
From Low to Close = 14.1 pips
From High to Close 24.1 pips

====== PROBLEMS: for input

What is the most sensible way do I draw range bars????

1.
we know one thing for sure: the first RangeBar(Rb) opens at:
RbO= 1.29018

now the problem points:
* do I go first Down till the LOW and than come UP till the HIGH and go back Down till the CLOSE???

* or is it more sensible to go first UP till the HIGH and than come till the LOW and back UP till the CLOSE???


Cheers
Ati

As smaller the RangeBar Size is chosen as more often we encounter the problem I pointed out above...

And whatever final option one chooses .. it will effect all applied indicators ect.. ect.

This does not effect live data.. but most indicators need a certain amount of past data to work correctly...

Hi there,
Unless you just want a coding challenge?!!!
Here is a free range bar EA that I have used.
Click on the second option - Download Installer.
Follow directions.
Only problem is that the market has to be live for your charts to populate, so do it before the weekend if you plan to review past data.

Once again it is free, no signing up for anything.

http://www.surefiretradingchallenge.com/crb-K17kvXN/

Just a "thought".
Good luck!

Thanks.
Ati

Dear friends:
i installed it with ibfx mt4, but when the mt4 started, the constant range bar.ex4 was deleted automatically, i do not why?

There are a number of Range bar indicator (note some are scripts or EA's too and must be installed in the right folders)
around to name a few I have seen:

s-Constant Range Bars
Rangebar EA
Range_Bar
Range-Bars
#ADVRangeBars

and some others..

Cheers
Ati


But the above mentioned problem will still exist to my knowledge ... which will effect to less or more degree the past RangeBars...

seems one can only compromise ... or move to a platform which uses tick data as calculation base....

TradeStation.com has Range Bar chart support. Below is comparison of regular 15mins EUR/USD chart with Range Bar 10pips EUR/USD.

bstay2 a late thanks.