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The power of range bars

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  • #81
  • Jul 26, 2014 9:22am Jul 26, 2014 9:22am
Quoting Demos4x
{quote} To the template of 1 pip range. or the one it's show on the picture on post 76. thank you in advance.

Ok,

so...the original template include a premium indicator i cannot share because i would do a wrong to the person who coded it. I replaced it with another one very very similar. I'm talking about the coloured ma.

I attach all indicators i often use (about 100+ indicators), this is a basic template but remember a thing:

I use mt4 range bars 1 pip chart only for view meanwhile i trade future currency pair where i have no spread at all, just a little commission, so scalping is a paradise. With forex and 1 pip rb you have to be very careful because spread can kill you.

Obviously i remain completely available to any further help/clarification/improvement of the template if you want.

If you want to use multitimeframe indicators on range bars, like the bband dots MTF indicator (for example you could use rb1 chart and attach the bbstop MTF of rb3 chart), you have to remember that before attaching it to the chart you need to have the second timeframe rb chart opened or the platform will freeze.


happy trading
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.JPG Size: 164 KB
Attached File(s)
File Type: tpl rb1 v1.0.tpl   8 KB | 750 downloads
File Type: zip Indicators.zip   1.2 MB | 1,312 downloads
First rule is not to lose. Second rule is not to forget the first rule...
  • #82
  • Jul 26, 2014 10:46am Jul 26, 2014 10:46am
THank you.I will test your template Monday.

Your comment about no spreads in forex futures sparked my interest. How do you access the future forex markets?

Trading without spreads its a very good concept for me, even this week I didn't activated break even because of 0.2 pips and yesterday I exit waaaay too early that i wanted to, because my break even got activated on a pull back, I though that I left enough space to cover the spread, even now, looking to the chart it still bugs me how it get activated, btw I'm not with a market maker so it wasn't a stop hunt.


Again thank you for your time.
  • #83
  • Edited Jul 27, 2014 6:26am Jul 26, 2014 11:14am | Edited Jul 27, 2014 6:26am
Quoting Demos4x
THank you.I will test your template Monday. Your comment about no spreads in forex futures sparked my interest. How do you access the future forex markets? Trading without spreads its a very good concept for me, even this week I didn't activated break even because of 0.2 pips and yesterday I exit waaaay too early that i wanted to, because my break even got activated on a pull back, I though that I left enough space to cover the spread, even now, looking to the chart it still bugs me how it get activated, btw I'm not with a market maker so it wasn't...

Well, you simply need to open an account with a futures broker. I am with amp/global futures, but the choise is huge. Trading with futures is not possible with mt4 so you have to familiarize with other platform like ninjatrader, multicharts and so on...

futures instruments don't have the fifth decimal digits so no more pips, but ticks. For 1 contract (similar to 1 lot) every tick value is 12,5 dollars. I pay a commission of almost 6 dollars per trade with 1 contract (but some brokers charge lower commissions, like mirus futures for example) so with 1 tick i am in profit. When i was in forex trading, some days i had trouble to be in positive because spread is a massive rock on our backs, for scalpers...

trading with no spread is a huge advantage in any case because when you lose a trade, you lose less than in the forex, when you win a trade, you win more than in the forex market...
First rule is not to lose. Second rule is not to forget the first rule...
  • #84
  • Jul 26, 2014 11:42am Jul 26, 2014 11:42am
Quoting thefxpros
{quote} Well, you simply need to open an account with a futures broker. I am with amp/global futures, but the choise is huge. Trading with futures is not possible with mt4 so you have to familiarize with other platform like ninjatrader, multicharts and so on... futures instruments doens't have the fifth decimal digits so no more pips, but ticks. For 1 contract (similar to 1 lot) every tick value is 12,5 dollars. I pay a commission of almost 6 dollars per trade with 1 contract (but some brokers charge lower commissions, like mirus futures for example)...
Not only that; Forex has a very low volatility at this moment and is becoming a Turtle. Many investors considered Forex a rigged market; therefore, it is finding challenges from Bitcoin and Binary Options.
  • #85
  • Jul 26, 2014 2:18pm Jul 26, 2014 2:18pm
This is very interesting.
I went to the brokers site that you mention and I was surprise the minimum acount value is 500$. Maybe I am seeing wrong.

I will investigate further and maybe after the summer I join a Future broker. It seems to me there is a lot of small differences between spot and forex that can screw me if I'm not properly informed.


Those anyone knows where can I get more information about "future forex" I only seem to find information about spot forex vs the future market in general and until now what I find is very scarce and not specific and always say that the spot markets have the biggest liquidity in the world.

Is there leverage in the future forex markets?
  • #86
  • Jul 26, 2014 2:43pm Jul 26, 2014 2:43pm
Quoting Demos4x
This is very interesting. I went to the brokers site that you mention and I was surprise the minimum acount value is 500$. Maybe I am seeing wrong. I will investigate further and maybe after the summer I join a Future broker. It seems to me there is a lot of small differences between spot and forex that can screw me if I'm not properly informed. Those anyone knows where can I get more information about "future forex" I only seem to find information about spot forex vs the future market in general and until now what I find is very scarce and not...

If you want to switch to futures trading i advise you some month of investigation before starting with real money. Futures are risky, like all financial instruments yes, but, for example, unlike the forex trading where if you burn your account, all of your deposited money are gone and stop, with futures trading you can create debts...so...if today you are not profitable yet, i suggest you to create a robust trading method before. If you hold a losing position over the required margin by the broker, he closes your position and charge you some additional costs too.

If you are comfortable with spoken english language you can easily find a lot of informations by videos on youtube. The first i met is this:
Inserted Video


no leverage in futures no, as i told before, 1 tick value is always 12,5 dollars per contract.

that minimum size account requirement is realistic but probably with that amount you can trade just the mini-sized instruments where tick size is the half of the normal.

The best way to learn, as you probably did with forex, is open a demo account with one broker, maybe you could want to try both most famous futures platforms like ninja trader and multicharts and you can see which one fits your needs better...
First rule is not to lose. Second rule is not to forget the first rule...
  • #87
  • Jul 27, 2014 2:53am Jul 27, 2014 2:53am
Thank you for all the information you provided.
I will stop talking about futures market because I'm starting to feel that I hijacked this thread.
Thank you again.
  • #88
  • Jul 27, 2014 6:19am Jul 27, 2014 6:19am
Quoting Demos4x
Thank you for all the information you provided. I will stop talking about futures market because I'm starting to feel that I hijacked this thread. Thank you again.
No problem. Feel free to contact me via pm if you need.

happy trading
First rule is not to lose. Second rule is not to forget the first rule...
  • #89
  • Jul 28, 2014 11:10am Jul 28, 2014 11:10am
After the whole morning spent to babysitting the monitor for these damned currency pairs fixed as a rock, i had a look to american indices and TA-DAAAN...

never had funny like today, beautiful dow jones future instrument, 5 dollars a tick per contract...a paradise. I say goodbye to currency trading till they turn healthy and i advise you to do the same...
Attached Image (click to enlarge)
Click to Enlarge Name: Cattura3.JPG Size: 167 KB
First rule is not to lose. Second rule is not to forget the first rule...
  • #90
  • Jul 29, 2014 9:51am Jul 29, 2014 9:51am
Quoting thefxpros
After the whole morning spent to babysitting the monitor for these damned currency pairs fixed as a rock, i had a look to american indices and TA-DAAAN... never had funny like today, beautiful dow jones future instrument, 5 dollars a tick per contract...a paradise. I say goodbye to currency trading till they turn healthy and i advise you to do the same... {image}
nice to see a topic alive since 2012... =)

I also like "not-time based" bars... like renko, median renko and range bars...
And also like cfd's... do you want some crazy instruments? dax, nasdaq, dowjones, s&p, ftse... if you want volatility, these will be your paradise


oanda spreads are nice, compared to how much this instruments moves...

can I ask how do you set your SL and TP? if you could, give one example of one of you trades... (y)

thank you
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #91
  • Jul 29, 2014 1:00pm Jul 29, 2014 1:00pm
Quoting room217
{quote} nice to see a topic alive since 2012... =) I also like "not-time based" bars... like renko, median renko and range bars... And also like cfd's... do you want some crazy instruments? dax, nasdaq, dowjones, s&p, ftse... if you want volatility, these will be your paradise oanda spreads are nice, compared to how much this instruments moves... can I ask how do you set your SL and TP? if you could, give one example of one of you trades... (y) thank you

Hi, glad to welcome here to another not-time based charts member

sure, i prepared some screenshots of all the trades i took today and, alas, even for that ones i didn't take...

1) First trade of the day, a loss . The high labelled "A" convinced me of a possibly end of the strenght for that mini bullish move, so i did take that short. In my analysis i saw a suspect trendline that could be part of a bullish flag, a sign of the continuation of the bullish trend but i wanted to try that short...bad idea. No problem, here we go, let's wait for the next trading setup.


FIRST TRADE entry and exit:

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Here is the flag i've believed to see:

Attached Image




Once bullish trend revealed, i was searching for a support point for the entry. In these situations i love pinbar candles on those support points. They are the confirmation in order to keep healthy the bullish move.

SECOND TRADE entry and exit:

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Lovely 38 tick gained and on safe. When i'm widely in profit, sometimes i start to take some more risky trade. This is what it is happened for trade #3. I had not realized that the clock marked 15.30...America markets open, so i decided to safely close that trade with a small profit. When the 15.30 come, all indices start to move like a crazy.

THIRD TRADE entry and exit:

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Another risky trade for the next trading setup, a bit of congestion, i tried a short trade but when i saw the price continue to move in ranging, i closed this trade too, this too with a little profit.

FOURTH TRADE entry and exit:

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The next two trades had been taken by the same reasons of trade #2. Initial bullish move, searching for a nice support for the entry. Both closed with a good profit!

FIFTH TRADE entry and exit:

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SIXTH TRADE entry and exit:

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The last trade i took, i did when the trend strenght was declining, so small loss for me.

SEVENTH TRADE entry and exit:

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Last pic just for sharing those fantastic moves; unfortunately i missed them...

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As you can see, nothing special with my strategy, you don't need super-powered NASA indicators in order to trade well, you just need volatility. If you have volatility and you learn to cut, as fast as things are going bad, your trade, nothing can stop you, just yourself...
First rule is not to lose. Second rule is not to forget the first rule...
  • #92
  • Jul 29, 2014 2:00pm Jul 29, 2014 2:00pm
wow, thank you for the examples my friend... I'm going to see them more carefully and ask some questions...


In 2010/11 I was operating fx and crude oil and got some ideas to operate using range bars... I made an EA and the backtests was just fantastics, amazing... however the following tests was terrible... nothing like the backtests... I really do not know why... requotes, execution fails, bad quality on the price action of the rage bars datafeed... I don't know, I think it was that

A despite of that fact, I still believe that this sum: range bars+volatility is my way to get consistent profits...

These sharp moves that you shown? this happens all the time on dax, nasdaq, crude oil, s&p, russel, and of couse, dow jones... if we find a way to filter these moments (like news, opening markets, etc) we could catch most of them (manualy or with an EA)... up and down... once they move alot and the spread is relative low (in comparison to how much they move) I'm really convinced that could be a great idea....

Thank you
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #93
  • Jul 29, 2014 2:11pm Jul 29, 2014 2:11pm
those yellow/green lines repaints?
seems to be pretty good to determine the main trend
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #94
  • Edited 6:19pm Jul 29, 2014 2:52pm | Edited 6:19pm
Quoting room217
wow, thank you for the examples my friend... I'm going to see them more carefully and ask some questions... In 2010/11 I was operating fx and crude oil and got some ideas to operate using range bars... I made an EA and the backtests was just fantastics, amazing... however the following tests was terrible... nothing like the backtests... I really do not know why... requotes, execution fails, bad quality on the price action of the rage bars datafeed... I don't know, I think it was that A despite of that fact, I still believe that this sum:...

mmmh...the first thing that i can think is that range bars charts in real time are different from the offline charts . If i close my platform now and then i reopen it, all price movements i shown in the screenshots are going to change, deeply sometimes. So the first possible reason can be this. The second one, yes, probably requote, execution fails and spread too can, without doubt, alter the final result.

This is the main reason of the why i've switched from a not regulated market, like forex is, to a regulated one, like futures markets. Since i'm with the futures broker, i have never seen requote, execution fails, slippage, spread and other crap like this.

Well, i'm happy if i can pick all those sharp moves, of course, but i feel happier when i go out good in a ranging phase, nothing give me more satisfaction like this, like gnaw some tick in a tiny, congested move. That's stronger than me...




Quoting room217
those yellow/green lines repaints? seems to be pretty good to determine the main trend

mmmh, let's say that it redraws sometime because that indicator is calculated from range bars 3 pip chart, so if the rb3 candle is not complete, is not still closed, it redraws the line, obviously. But, we're talking about the main chart, that is a 2 pip chart and the other one is the rb 3 chart, so we have 1 pip of redrawing...it is completely manageable.

If you're interested in this indicator, it is a premium forex-tsd forum elite indicator, i cannot share it for free, i'm sorry. The person who coded it, gave me some help with other indicators, for free, so many times...

here is the link:

http://www.forex-tsd.com/elite-secti...tml#post671216
First rule is not to lose. Second rule is not to forget the first rule...
  • #95
  • Jul 29, 2014 3:26pm Jul 29, 2014 3:26pm
Quote
If i close my platform now and then i reopen it, all price movements i shown in the screenshoots are going to change, deeply sometimes. So the first possible reason can be this.

I think so too... if you want, take a look on my files...
one of them is this backtest (EA8)

Quote
when i go out good in a ranging phase, nothing give me more satisfaction like this, like gnaw some tick in a tiny, congested move. That's stronger than me...

well, I have no preferences, just want to make some pips... hehehe

mladen right? I spoke with him sometimes... nice guy
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #96
  • Jul 29, 2014 6:28pm Jul 29, 2014 6:28pm
Quoting room217
{quote} I think so too... if you want, take a look on my files... one of them is this backtest (EA8) {quote} well, I have no preferences, just want to make some pips... hehehe mladen right? I spoke with him sometimes... nice guy

Wow, that backtest is unbelievable, if forward test is a disaster it is strange. Too much difference. Can i ask you what rb sizes you used? Did you remember?

Yeah, it's him, very kind man...

That indicator is particularly good, but you can easily replace it with one (multi time frame) of the tons freely available on the net.
First rule is not to lose. Second rule is not to forget the first rule...
  • #97
  • Jul 30, 2014 1:30am Jul 30, 2014 1:30am
I currently have one problem in setting up my range bar charts.

When I attach the EA to the GBPUSD Chart it will work fine and price keeps updating!
BUT when I attach the EA on my DAX (DE30) Chart, it loads the history and price is not updating at all.
Iam quiet familiar with offline charts, but I don't understand why this is not working...

can someone help me to fix this?
have actually no idea.
  • #98
  • Jul 30, 2014 4:34am Jul 30, 2014 4:34am
Quoting Jeffray
I currently have one problem in setting up my range bar charts. When I attach the EA to the GBPUSD Chart it will work fine and price keeps updating! BUT when I attach the EA on my DAX (DE30) Chart, it loads the history and price is not updating at all. Iam quiet familiar with offline charts, but I don't understand why this is not working... can someone help me to fix this? have actually no idea.

Did you try the EA in this thread? http://www.forexfactory.com/showthre...22#post7632122

I can load without problem the live DAX chart.
First rule is not to lose. Second rule is not to forget the first rule...
  • #99
  • Jul 30, 2014 8:20am Jul 30, 2014 8:20am
Quoting thefxpros
{quote} Wow, that backtest is unbelievable, if forward test is a disaster it is strange. Too much difference. Can i ask you what rb sizes you used? Did you remember? Yeah, it's him, very kind man... That indicator is particularly good, but you can easily replace it with one (multi time frame) of the tons freely available on the net.
it is, it isn't? I have to confess, it was because of that test that I lost interest in fx at the time... that expert was very very simple, silly I must say... I made it all, not a commercial EA, million dolars per week, what I thought that at least some good money I could make it... all illusion

do not remember 100% sure but probably 5 pip... the whole idea was using a 5MA, shift 1 and always follow the MA... if you see the states I also used trailing stop and after one or two bars at least on break even I got out...

maybe I'm did not test enough, coud try harder... maybe still could be a good idea... i don't know
all we need is a "explosive" market...
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #100
  • Jul 30, 2014 8:24am Jul 30, 2014 8:24am
Quoting thefxpros
{quote} Did you try the EA in this thread? http://www.forexfactory.com/showthre...22#post7632122 I can load without problem the live DAX chart.
I use the Ea posted in this thread
for some reason, I restarted my MT4 a couple of times and then it worked

One other issue. I tried to use the BBandStop MTF postet in here but unfortunetly it doesn't work with my MT4 Build 670.
Anyone has a solution for this?
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