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The power of range bars

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  • #241
  • Aug 9, 2014 12:34pm Aug 9, 2014 12:34pm
@rockypoint

I dont know why, but when I setup my chart with your settings, I never get a squeeze of the bands inside the channel...
Any ideas?

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  • #242
  • Aug 9, 2014 1:34pm Aug 9, 2014 1:34pm
Jeffray,I'll try to post pictures of my settings from my trading platform for you, please note I do not use any of the mt4 platforms. I don't like them. I trade on
Think or Swim who has a platform I really like and I find real easy to use. Also note my computer expertise is about a 3 on a scale of 1 to 10
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  • #243
  • Aug 9, 2014 2:56pm Aug 9, 2014 2:56pm
Quote
rockypoint

Thank you for comments my friend, really appreciate...

but this chart you did post it's a little strange to me... is it normal range bars?
there are several green bars (up bars) in a side channel, same thing with down bars... normally range bars is not like that...

thank you
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #244
  • Aug 9, 2014 3:25pm Aug 9, 2014 3:25pm
Room 217,

LOL my room number my freshman year at college in 1972.

The range bar are slightly different they are a licensed study on my trading platform and were developed by Linda Raschke. Any green candles denote upside momentum, red of course downward momentum, blue or hot pink denote neutral momentum. Not a huge part of system on maybe 1 out of 50 trades the appearance of of a blue or pink candle will delay my entry or even rarer keep me out of a trade. Regular range bars work just fine.

Well I'm off for my workout then some bodysurfing, nice waves today.
  • #245
  • Aug 10, 2014 11:27am Aug 10, 2014 11:27am
Quoting room217
{quote} Thank you for comments my friend, really appreciate... but this chart you did post it's a little strange to me... is it normal range bars? there are several green bars (up bars) in a side channel, same thing with down bars... normally range bars is not like that... thank you
I agree, those series look like a single bar repeated multiple times, and it could distort (narrow) the Bollinger band easily.
  • #246
  • Edited 12:12pm Aug 10, 2014 11:53am | Edited 12:12pm
po
Quoting room217
{quote} Thank you for comments my friend, really appreciate... but this chart you did post it's a little strange to me... is it normal range bars? there are several green bars (up bars) in a side channel, same thing with down bars... normally range bars is not like that... thank you



because they're not range bars, but they seem to be more like this:

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i don't remember the name, i have it on ninjatrader, it should be something like point-o-bars...
First rule is not to lose. Second rule is not to forget the first rule...
  • #247
  • Edited 12:37pm Aug 10, 2014 12:02pm | Edited 12:37pm
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Ok guys here are 2 charts one with linda raschke formulation and just plain range bars, from now on i will use the regular range bars on any posts.
As i said previously not important I'm just used to looking at them. the top chart has raschke bars and the lower regular range bars, the raschke bars do not affect the bollinger bands or keltner channels. They are not renko bars they have tails and renkos do not.

Sorry if this post is a little snarky, I suppose its because of the weekend but my previous post has been waiting for approval for 20 hours and this one will probably be sitting for a long time too.

I'm a day trader I like fast. When I started I thought anyone who day traded was nuts. Guess what I blew out 2 accounts trying to be a swing trader.
So i started day trading(options) talk about stress but also successful. Then i switched to futures much less stress, then just fx still less stress and less capital.
Now futures and fx just right for me. I think the hardest part of becoming a successful trader is figuring out what kind of trader you are. There are plenty of viable systems to trade, proper risk and money management is pretty straight forward. Finding a system that fits your personality and the discipline to trade it
thats the hard part.
  • #248
  • Aug 10, 2014 12:48pm Aug 10, 2014 12:48pm
Quoting thefxpros
po{quote} because they're not range bars, but they seem to be more like this:
I agree with you... but notice that even these bars does not has more than one bar on the same direction starting on the same price...
(there are no 2 bulls or 2 bears in a row)

btw, I have the indicator that creates that bars you shown... it's like renko bars however the inversion bar is not twice the normal range... for those who are looking for a "side market" to operate breakouts (or even hedge or grid strategies) in my opinion, there is no better way to see the prices...

if you guys want I post it...
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #249
  • Aug 10, 2014 12:54pm Aug 10, 2014 12:54pm
Quoting thefxpros
po{quote} because they're not range bars, but they seem to be more like this: {image} i don't remember the name, i have it on ninjatrader, it should be something like point-o-bars...
or he is trading 3p tick bars...
just have a look on the upper left corner of his chart, there is written 3 TICKS
  • #250
  • Aug 10, 2014 1:03pm Aug 10, 2014 1:03pm
Quoting Jeffray
{quote} or he is trading 3p tick bars... just have a look on the upper left corner of his chart, there is written 3 TICKS

rockypoint where are youuuuu?? We are struggling to discover this secret chart you use
First rule is not to lose. Second rule is not to forget the first rule...
  • #251
  • Aug 10, 2014 1:09pm Aug 10, 2014 1:09pm
I am trading range bars not renko bars. Yes the chart says 3 ticks because I am trading futures contract not forex. Also on think or swim platform when I trade
forex the chart will show 50 ticks which is 5 pips just the way they do things. Below are what renko charts and ticks charts look on my platform.
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  • #252
  • Aug 10, 2014 7:15pm Aug 10, 2014 7:15pm
the first image you posted there are an indicator that draws the candles of the same collor? if it's that I think I got it...
it's normal range bars but the indicator draws the candles the same collor to visualize the trend... just like an image I posted a few days ago... am I right?

thanks

and have a nice week you all
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #253
  • Aug 10, 2014 7:46pm Aug 10, 2014 7:46pm
Room 217, You got it bro it just the color of the bars
  • #254
  • Aug 10, 2014 9:05pm Aug 10, 2014 9:05pm
Here is a description of Linda Raschke LBR Bars as it shows on my trading platform inculding the math. Hope this helps everyone understand.
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  • #255
  • Aug 11, 2014 10:20am Aug 11, 2014 10:20am
Poor day today, it is monday and i'm in holiday...

just the bare essentials:

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if my granddaughter gives me some little breathing, later i'll post trades pictures in details...
First rule is not to lose. Second rule is not to forget the first rule...
  • #256
  • Aug 11, 2014 10:21am Aug 11, 2014 10:21am
Mondays I trade futures only after NY market opens. I try to stay away from low volume charts. ZW(wheat) & CT(cotton) tend to have most movement.
No squeeze trades today. But an old favorite I've been trading for a few years gave me a nice Bullish divergence for 31 ticks.
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  • #257
  • Aug 11, 2014 10:28am Aug 11, 2014 10:28am
Quoting rockypoint
Mondays I trade futures only after NY market opens. I try to stay away from low volume charts. ZW(wheat) & CT(cotton) tend to have most movement. No squeeze trades today. But an old favorite I've been trading for a few years gave me a nice Bullish divergence for 31 ticks. {image}

good, i like you, this is the right approach! cut the losses and let the profit trades to run...
First rule is not to lose. Second rule is not to forget the first rule...
  • #258
  • Aug 11, 2014 2:55pm Aug 11, 2014 2:55pm
Quoting rockypoint
Mondays I trade futures only after NY market opens. I try to stay away from low volume charts. ZW(wheat) & CT(cotton) tend to have most movement. No squeeze trades today. But an old favorite I've been trading for a few years gave me a nice Bullish divergence for 31 ticks. {image}
Hi Rockypoint,
What's the black dashed moving average on you chart and is there any reason in having four moving averages so close to the price when one would surfice?

Just curious

doc.
  • #259
  • Aug 11, 2014 3:30pm Aug 11, 2014 3:30pm
Dr. Scalpall,

The black dotted line is a 100ema and in general I'll just take trades when price is on right side of 100 ema. As for the 4 short term emas I like the optics.

I use a similar system with 5 &12 emas with 55 ema and rsi.

Visually this works for me, ma xover systems never work as pure mechanical systems they need healthy dose of disctretion. In fact I would never trade a completely mechanical system no matter what is was, thats no fun!
  • #260
  • Aug 11, 2014 3:45pm Aug 11, 2014 3:45pm
Range Bars on the NQ (Nasdaq) today. You can't make a time-based chart look like this without them!

We haven't traded anything but Range bars for 4 years now, its still the only consistently profitable setting I've ever seen.
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