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The power of range bars

  • Linked: HotForex - averaging down test 01 | Demo Account XXXX02
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  • #61
  • Edited 7:10pm Nov 16, 2013 4:47pm | Edited 7:10pm
Quoting sardinian
Buonasera, before all ...I know how to set indies on mt4...etc. I downloaded the indicators of your post n.36 (07 august) but I can't reach the setting just like in your screenshot of the same post. I will appreciate if you kindly will upload an tpl file (template) of your standard setting for better understanding your system..or another tpl if you consider it better. grazie
ok, just try this for now. I guess you want to try the heiken ashi separate window template from the post you mentioned. Tell me if you're comfortable with this.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.JPG Size: 198 KB
Attached File(s)
File Type: zip template.zip   93 KB | 844 downloads
First rule is not to lose. Second rule is not to forget the first rule...
  • #62
  • Nov 17, 2013 11:56am Nov 17, 2013 11:56am
Thank you.
I will try it asap.
Ciao
  • #63
  • Nov 20, 2013 8:30pm Nov 20, 2013 8:30pm
Thank you thefxpros. I appreciate your insights about hedging.

Perhaps my own recent financial loss could serve as a stern warning to others. The hedging technique demonstrated in the trade explorer (averaging down) could potentially work but you would be clustering the risk from many small losses into a large risk. I eventually decided to kill those trades for a large loss because I now believe in the long run this strategy is doomed... The long road to profitability...

***

Anyways, there are a few indicators I wanted to share with everybody in the hope that these might help with your trading.

  1. tanto001 asked me about the zigzag indicator that I'm using. It's called Gann ZigZag (attached). It is different than regular zigzag indicators in that it uses Gann's simple swing charting calculations. This is the reason it does not repaint on range bars.
  2. There is a set of 3 indicators called GRaB Candles that color each candle based on its position relative to a band of moving averages. It's a great way to visualize pullbacks and continuations. You can still do thefxpros' style of trendline analysis on your chart.
  3. Some of you have heard of Supply/Demand Zone trading. I thought it would be a good idea to incorporate Supply/Demand zones in range bar trading. Price does seem to react to these zones more often than not. The attached Supply/Demand indicator will automatically draw zones from any time frame onto your range bar chart (I typically use 30min). The dark blue rectangle in the screenshot is a zone.
  4. As thefxpros mentioned, the bbdots indicator freezes the metatrader platform upon restart. If you don't want to wait 10 minutes for metatrader to resume, a simple solution would be to rename the bbdots indicator file within your indicators folder and restart metatrader.

Hope these are useful.
Good luck with your trading everybody.


Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 58 KB




Quoting thefxpros
{quote} Hi cornelius, glad to see you back...
Attached File(s)
File Type: mq4 GannZigZag no filewrite.mq4   8 KB | 694 downloads
File Type: mq4 GRaB Candles Long.mq4   4 KB | 638 downloads
File Type: mq4 GRaB Candles Range.mq4   4 KB | 648 downloads
File Type: mq4 GRaB Candles Short.mq4   4 KB | 681 downloads
File Type: mq4 II_SupDemMOD_DarkBG_SolidFill.mq4   29 KB | 672 downloads
File Type: mq4 II_SupDemMOD_WhiteBG_SolidFill.mq4   29 KB | 594 downloads
  • #64
  • Nov 21, 2013 2:42pm Nov 21, 2013 2:42pm
Quoting cornelius5
Thank you thefxpros. I appreciate your insights about hedging. Perhaps my own recent financial loss could serve as a stern warning to others. The hedging technique demonstrated in the trade explorer (averaging down) could potentially work but you would be clustering the risk from many small losses into a large risk. I eventually decided to kill those trades for a large loss because I now believe in the long run this strategy is doomed... The long road to profitability... *** Anyways, there are a few indicators I wanted to share with everybody in...

good setup! Don't worry about the loss, start to trade smart and simple with range bars and the results will come...
First rule is not to lose. Second rule is not to forget the first rule...
  • #65
  • Edited 7:25pm Nov 21, 2013 7:05pm | Edited 7:25pm
Quoting thefxpros
{quote} 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 {file}
Just that you know the range bar EA you shared has gaps between bars when in a fast moving market. I am not saying it is good or bad. I know Samurai Trading insisted on using gapped range bars because he has been successful with them. So, a 3-pip gapped range bar may be equivalent to a 4 or 5-pip no-gapped range bar. Here is a comparison.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 39 KB
  • #66
  • Nov 22, 2013 12:54pm Nov 22, 2013 12:54pm
Quoting FxSwordfish
{quote} Just that you know the range bar EA you shared has gaps between bars when in a fast moving market. I am not saying it is good or bad. I know Samurai Trading insisted on using gapped range bars because he has been successful with them. So, a 3-pip gapped range bar may be equivalent to a 4 or 5-pip no-gapped range bar. Here is a comparison. {image}
yes, i know perfectly what you're talking about and i could not trade so profitable with no-gap range bars ea...i don't know why but i feel more feeling with my gap EA.

If you want to try the other no-gap solution, you could take a look here:

http://www.az-invest.eu/rangebars-pl...or-metatrader4
First rule is not to lose. Second rule is not to forget the first rule...
  • #67
  • Edited Nov 25, 2013 2:50am Nov 24, 2013 4:35pm | Edited Nov 25, 2013 2:50am
how do you calculate a "suitable" range bar size for your market and time-frame?
  • #68
  • Nov 25, 2013 9:14am Nov 25, 2013 9:14am
Quoting PeterE
how do you calculate a "suitable" range bar size for your market and time-frame?

Hi,

this is up to you...

for example (referred to eurusd):

1-2 pip is good for scalping

3-5 pip for daytrading

6-10 pip medium term trading

> 10 pip long term trading

what type of strategies and trading style do you usually prefer?
First rule is not to lose. Second rule is not to forget the first rule...
  • #69
  • Nov 28, 2013 9:04am Nov 28, 2013 9:04am
Is there any successful TradeExplorer or Myfxbook from traders/vendors using Range Bar techniques or strategies?
No longer trading forex. Looking for full time job.
  • #70
  • Nov 28, 2013 9:24am Nov 28, 2013 9:24am
Quoting mmaker
Is there any successful TradeExplorer or Myfxbook from traders/vendors using Range Bar techniques or strategies?
If you like manual trading, this is a successful system http://www.samuraiforextrading.com/
I used to study it. Trading hours are Frankfurt open to several hours after UK open. I just can't do it. EA is the way to go for me.
  • #71
  • Edited 11:32am Dec 3, 2013 7:47am | Edited 11:32am
Guys in this period try to use usdjpy instead of eurusd. Eurusd is too much slow for now...
First rule is not to lose. Second rule is not to forget the first rule...
  • #72
  • Apr 9, 2014 7:29pm Apr 9, 2014 7:29pm
Found an interesting indicator that seems to work well with range bars charts. Try it out!

The MFT ones need the source indicator installed in order to work.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 60 KB
Attached File(s)
File Type: mq4 Wilders trailing stop MTF sw.mq4   4 KB | 751 downloads
File Type: mq4 Wilders trailing stop MTF.mq4   4 KB | 722 downloads
File Type: mq4 Wilders trailing stop.mq4   2 KB | 768 downloads
First rule is not to lose. Second rule is not to forget the first rule...
  • #73
  • Apr 9, 2014 11:21pm Apr 9, 2014 11:21pm
Quoting thefxpros
Hi, this is up to you... for example (referred to eurusd): 1-2 pip is good for scalping 3-5 pip for daytrading 6-10 pip medium term trading > 10 pip long term trading what type of strategies and trading style do you usually prefer?
Hi,

I voted greater than 12 pips, but I agree with this guy's logic. It all depends on what type of trader you are. I am a daytrader, but I find any wicks greater than ~2 pips or so to be valuable information.

It's all about the market context, which is why I'm a big fan of the MTF approach.
Please check out my blog at https://from-zero-to-hero . net
  • #74
  • Apr 10, 2014 4:33am Apr 10, 2014 4:33am
Quoting smash1820
{quote} Hi, I voted greater than 12 pips, but I agree with this guy's logic. It all depends on what type of trader you are. I am a daytrader, but I find any wicks greater than ~2 pips or so to be valuable information. It's all about the market context, which is why I'm a big fan of the MTF approach.

Hi, interesting.

would you mind to share your trading approach? I do scalping but i'd like to learn some approach based on big range bars candle size...
First rule is not to lose. Second rule is not to forget the first rule...
  • #75
  • May 15, 2014 5:29pm May 15, 2014 5:29pm
Hi

Could you please tell me how the wilders indicator is going and what range bar size are you using with it?
  • #76
  • Edited 10:25am May 17, 2014 10:09am | Edited 10:25am
Quoting jamess5253
Hi Could you please tell me how the wilders indicator is going and what range bar size are you using with it?
Hi, it is a good indicator. You should use it as part of more general trend indicators strategy. For example like the pic. I'm using a 1 pip range bars chart for EURUSD, AUDUSD, USDJPY and NZDUSD, I do scalping. GBPUSD may require a 2 pip chart due to its volatility.

regards
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 56 KB
First rule is not to lose. Second rule is not to forget the first rule...
  • #77
  • Jul 23, 2014 6:16am Jul 23, 2014 6:16am
Quoting thefxpros
{quote} Hi, it is a good indicator. You should use it as part of more general trend indicators strategy. For example like the pic. I'm using a 1 pip range bars chart for EURUSD, AUDUSD, USDJPY and NZDUSD, I do scalping. GBPUSD may require a 2 pip chart due to its volatility. regards {image}

Can you please post the template of the strategy?
Thank you.

for trending i'm testing setups of 3 exponential moving averages, the different setups are:
20 ema, 50 ema, 100ema

or

20, ema 34 ema, 50ema

or

Kaufman moving averages (attached)

20, 50 ,100

or

20, 34, 50
Attached File(s)
File Type: mq4 Kaufman AMA signals 1.1 nmc.mq4   6 KB | 567 downloads
  • #78
  • Jul 23, 2014 10:38am Jul 23, 2014 10:38am
Will you please define how to install it and how to use this range bar
Neither a Bro Nor a Pro I am I
  • #79
  • Edited 5:20pm Jul 25, 2014 2:58pm | Edited 5:20pm
Quoting Demos4x
{quote} Can you please post the template of the strategy? Thank you. for trending i'm testing setups of 3 exponential moving averages, the different setups are: 20 ema, 50 ema, 100ema or 20, ema 34 ema, 50ema or Kaufman moving averages (attached) 20, 50 ,100 or 20, 34, 50 {file}

Hi, it seems a good setup, i often use 16 and 40 ema for 1 pip range bars chart.

Which template you're referring to? It depends on which range bars size you use, i have a different template for different bar size.



Quoting satish37
Will you please define how to install it and how to use this range bar
Hi, in order to install range bars EA you need to put those files in the metatrader expert advisor folder. After that, restart the platform and attach the range bars ea on a 1 minute chart of your favourite currency pair, then you have to wait a tick and you can open the offline chart of that currency pair and you will get the range bars chart.
Attached File(s)
File Type: ex4 Range bars EA nmc mirror.ex4   21 KB | 583 downloads
File Type: mq4 Range bars EA nmc mirror.mq4   16 KB | 627 downloads
First rule is not to lose. Second rule is not to forget the first rule...
  • #80
  • Edited 6:45pm Jul 25, 2014 6:11pm | Edited 6:45pm
Quoting thefxpros
{quote} Hi, it seems a good setup, i often use 16 and 40 ema for 1 pip range bars chart. Which template you're referring to? It depends on which range bars size you use, i have a different template for different bar size. {quote}

To the template of 1 pip range. or the one it's show on the picture on post 76.





thank you in advance.
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