The power of range bars

Hi all,

I discovered range bars charting method some months ago and my trading results are changed dramatically.

Give it a try...

--- THE POWER OF RANGE BARS THREAD ---

WHAT RANGE BARS ARE:

Range Bars were developed in 1995 by a Brazilian broker and trader, Vicente M. Nicolellis, Jr. The purpose of Range Bars was to focus only on changes in price; thus they do not close at a specific time, but instead only when the range is complete. Each bar has a specified price range, rather than being charted in units of time or ticks.

With a focus on price movement, long periods of consolidation may be condensed into just a few bars, removing excess noise in the market and highlighting "real" price movements.

Range Bars are built by the underlying closing data that shows the directional trends as per the range amount. Range Bar charts are time independent so that time axis increments will not be fixed. The size of the bars will always be the range size set by you and will never be anything smaller or larger unless it is the current bar that is building.

Range Bars look like standard bars, but are different in three ways:

1. Range Bars are all equal in height, based on the range specified by the user.

1. The open of each Range Bar is always equal to the close of the previous Range Bar.

1. Range Bar closes are always at the top or bottom of the bar.

HOW TO GET RANGE BARS ON MT4: (works with build 940 or older)

In order to get range bars on mt4 you can:

1. use this EA (with gap)

Put the file into your MT4 expert advisors folder. Restart the platform and enable expert advisors button, open a 1 minute chart of your favourite currency pair, scroll back the history for a few days and attach the EA on the chart. Set your range bars size (for example 3 pip) and the offline chart where you want to get the range bars chart (for example 2, or 3 or any other number different from default timeframes 1,5,15,30 etc...), then wait for a tick and you will be ready to open the offline range bars chart (with gaps) of that currency pair.

If you have troubles, please follow this step-by-step instructions video:

you will get something like this (example of range bars chart 2 pip EURUSD with gap):

1. or use this indicator (without gap)

Put the file into your MT4 indicator folder and the dll in to libraries folder. Restart the platform and open a 1 minute chart of your favourite currency pair, scroll back the history for a few days and attach the indicator on the chart. Set your range bars size (for example 3 pip) and the offline chart where you want to get the range bars chart (for example 2, or 3 or any other number different from default timeframes 1,5,15,30 etc...), then you will be ready to open the offline range bars chart (without gaps) of that currency pair.

you will get something like this (example of range bars chart 2 pip EURUSD without gap):

1. or, lastly, you can rely on commercial range bars generators, with and without gap, like this: http://www.forexfactory.com/showthre...29#post7698129

HOW INDICATORS PERFORM ON RANGE BARS CHART?

Definitely well, let's see some examples:

1. range bars 2 pip chart with Bbands stop and MACD

1. range bars 2 pip chart with ma cross candles and half trend indicator

1. range bars 2 pip chart with triple ma cross setup

CAN I HOLD MY MULTI TIMEFRAME INDICATORS SETUP WITH RANGE BARS?

Yes, multi "sizeframe" approach is possible with range bars too, you just need to open higher range bar size charts and insert the number of corresponding chart in the "timeframe" indicator field while you plot the indicator on the lower range bar size chart. Let's see some examples:

1. range bars 2 pip chart with ribbon MTF calculated on range bars 4 pip chart

1. range bars 2 pip chart with stepma MTF calculated on range bars 4 pip chart

USEFULL STUFF:

 

1. Trades Screenshots

http://www.forexfactory.com/showthre...51#post6921051

http://www.forexfactory.com/showthre...67#post7638267

http://www.forexfactory.com/showthre...25#post7640825

http://www.forexfactory.com/showthre...33#post7642133

http://www.forexfactory.com/showthre...79#post7646679

http://www.forexfactory.com/showthre...14#post7649414

http://www.forexfactory.com/showthre...74#post7649574

http://www.forexfactory.com/showthre...99#post7651099

http://www.forexfactory.com/showthre...42#post7653242

http://www.forexfactory.com/showthre...76#post7661476

http://www.forexfactory.com/showthre...95#post7666395

http://www.forexfactory.com/showthre...98#post7670798

http://www.forexfactory.com/showthre...30#post7671630

http://www.forexfactory.com/showthre...04#post7672304

http://www.forexfactory.com/showthre...83#post7672383

http://www.forexfactory.com/showthre...32#post7678132

http://www.forexfactory.com/showthre...66#post7681566

http://www.forexfactory.com/showthre...40#post7681940

http://www.forexfactory.com/showthre...87#post7684187

http://www.forexfactory.com/showthre...98#post7696898

http://www.forexfactory.com/showthre...31#post7701031

http://www.forexfactory.com/showthre...56#post7701256

http://www.forexfactory.com/showthre...32#post7706332

http://www.forexfactory.com/showthre...20#post7712520

http://www.forexfactory.com/showthre...53#post7712653

http://www.forexfactory.com/showthre...26#post7714726

http://www.forexfactory.com/showthre...13#post7724313

http://www.forexfactory.com/showthre...84#post7726384

http://www.forexfactory.com/showthre...21#post7730421

1. Trades Videos

http://www.forexfactory.com/showthre...88#post7643288

http://www.forexfactory.com/showthre...84#post7643584

1. MT4 stuff (indicators, EAs, templates, etc...)

http://www.forexfactory.com/showthre...95#post8661795

recently I have been thinking about range bars' nature, they whisper us at least the same things as do hh-hl/ll lh bars, and if you can read range bars, you are definitely in a high probability trade.

Do you use them? What strategy you use?

Hi guys!

Could you specific your strategy? What is the signal? Would like to see more.

Have been following this thread quite some time, you are doing great result. Would you mind to share the system to us?
Thanks.

I'm sorry if I have not responded to your previous post but I decided that, as long as I had not come to 1000 pips profit in demo, I would not have shared strategy.

I set myself the goal as 1000 points before going to a real account.

When I started with range bars trading in demo, I began to understand what were the errors of almost all traders do and going into profit has become easy.

The strategy I use is scalping / intraday but is very subjective, so many people may not have special feeling with it.


As a thank you for all the indicators that I could download here on forex factory and for the help of programmers who have always helped me, I can only share my strategy that is allowing me to replicate in reality, the excellent results of the demo.


As soon as I'll open a thread to share the strategy. (maybe in the weekend)

See you soon

Another future salesman?

Nah he's too demo

What you think i should sell??

bah, i can't understand you guys...

listen the other guy..."he's too demo"...


I changed my mind.

See you

Ok. Now i think is the time to show your LIVE result because it has been 1000 pips. I am interested in your system entry and exit, because i suspect you are doing breakout scalping.
Thanks.

oh no no, i don't have to show NOTHING, i'm not claiming NOTHING. I was on my own.

Forex trading is my work, i live of forex trading, i started the demo with 25000 dollars because that amount was that one i had invested in trading in real. With that amount and 10 pip a day you can live of trading forex easily...


Yes, you're right, part of my strategy is breakout scalping and trend trading.

Look for your own, download the range bars EA, it is free, i don't have to sell nothing here...and put on your chart a range bars 3 pip...Even with a couple of MA's you can trade well if you learn to cut the losses.

http://www.forexfactory.com/attachme...1&d=1362427998

impressive results .. whats the strategy?

It's not the strategy, it doesn't matter for more than 10%. it's all MINDSET.

The strategy is simply draw correct trendlines and look the price action and if the price doesn't go in your way....cut, cut, cut!

With range bars 3 pip you have tons of opportunity every day...

Could you post the range bar indicator or EA?
Thanks.

here you go.

I don't know if you know. In order to work, you have to load this EA on a 1 minute chart then open offline chart M3

Thanks!

Hello,

Would you midn sharing your strategy with us ??? I beg you
Have a nice week-end !

This is my strategy, really, nothing else more...draw correct trandline, validated by macd e cut losses, you don't have to beg me


http://www.forexfactory.com/attachme...1&d=1363643586

thefxpros,
Are you still trading range bars? I noticed that you have not updated your Demo TradeExplorer. Have you gone to live account now?

hi mmaker,

yes, i'm still trading range bars, i won't leave them. I didn't update the explorer because i stopped demo trading. i'm fully in real from several months.