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The power of range bars

  • Linked: HotForex - averaging down test 01 | Demo Account XXXX02
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  • Linked: Mixed trading test 01 | Demo Account XXXXX00
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  • #481
  • Oct 9, 2014 5:41pm Oct 9, 2014 5:41pm
Quoting rockypoint
Here gbp/cad chart when I first open platform just now its ugly, after I zoom in from 2 days to 12 or so hours still ugly I won't trade that pair. Next pair gbp?aud when first opened it ain't a beauty but when I zoom in it shows some potential Next oil when first opened nice looking chart zoom in really good looking chart(missed this one today got a late start) {image} {image} {image} {image} {image} {image}
Hi Rockypoint was the RSI influential in deciding ugly chart
  • #482
  • Oct 9, 2014 5:44pm Oct 9, 2014 5:44pm
Quoting Halley
Trade on today's EURUSD second leg down. Entry after a reversal bar. Target by fibo. {image}
Hi Halley good idea to use the Bar charts Good trade done well
  • #483
  • Oct 9, 2014 5:58pm Oct 9, 2014 5:58pm
Hey Asalijay,

No I don't even really look at anything but price action, if its choppy and erratic then the indicator will be too.
  • #484
  • Oct 9, 2014 6:09pm Oct 9, 2014 6:09pm
isnt range bars similar to heiken ashi?
  • #485
  • Oct 9, 2014 6:13pm Oct 9, 2014 6:13pm
Quoting bodkins
isnt range bars similar to heiken ashi?
mmhh, i would say no...

please take a look at the first page of the thread, there are some informations on what range bars are...
First rule is not to lose. Second rule is not to forget the first rule...
  • #486
  • Oct 10, 2014 11:39am Oct 10, 2014 11:39am
sometime insomnia is a profitable, couldn't sleep last traded from about 10:30 till 6am my time and spent the last 3 hrs in bed looking at the ceiling. anyway 5
trades 3 nice winners for 183 ticks total and 2 small losers 20 ticks total
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  • #487
  • Oct 13, 2014 10:17am Oct 13, 2014 10:17am
Traded London open today figured there wouldn't be much going later due to holiday.
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  • #488
  • Oct 13, 2014 5:04pm Oct 13, 2014 5:04pm
Quoting rockypoint
Traded London open today figured there wouldn't be much going later due to holiday. {image} {image} {image} {image}
Very nice divergences trading...how do you choose your exit point?
First rule is not to lose. Second rule is not to forget the first rule...
  • #489
  • Oct 13, 2014 6:17pm Oct 13, 2014 6:17pm
Hey FXPROS, Honestly I use no particular method except my own view of the price action, I will usually let trades run and get out when I'm ready to stop trading
for the day. For me I seem to make more pips without setting profit targets, my mental targets are 40 with trend and 20 against, my stops are previous swing/high or low but never more than 20.

Where I live i look out and see the Sea of Cortez, palm trees, the beach, so spending too much time looking at a computer screen is not my first choice. Last night I lay out in a chaise listening to the waves, watching the lights of the shrimp boats leaving port and traded, put stops in when I got tired and slept for a while then got up and closed out my trades.
  • #490
  • Oct 14, 2014 10:08am Oct 14, 2014 10:08am
Traded Europe again last night 2 trades USD and GBP/USD. Done for the day 8AM here, going to Max's for chilliquilles for breakfast and mucho cafe.
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  • #491
  • Oct 16, 2014 7:14am Oct 16, 2014 7:14am
Hi all of you,could you sent me a link pls for mt4 range bars (build 711)thanks
  • #492
  • Oct 16, 2014 7:22am Oct 16, 2014 7:22am
Quoting corratec
Hi all of you,could you sent me a link pls for mt4 range bars (build 711)thanks
What do you mean? All links are in the first post of the thread.
First rule is not to lose. Second rule is not to forget the first rule...
  • #493
  • Oct 16, 2014 7:51am Oct 16, 2014 7:51am
Sorry about that,I havent seen it,everything works well now,thank you very much
  • #494
  • Oct 16, 2014 7:59am Oct 16, 2014 7:59am
Quoting corratec
Sorry about that,I havent seen it,everything works well now,thank you very much
no problem ...glad to help you.
First rule is not to lose. Second rule is not to forget the first rule...
  • #495
  • Oct 16, 2014 9:55am Oct 16, 2014 9:55am
Well every thing I watch is pretty much a hot jumpy mess today, except USD/CAD. But missed that train. Mananas' another day
  • #496
  • Oct 17, 2014 2:16am Oct 17, 2014 2:16am
Hi,I would want to give me an advice,I spot that very often,if you use 1 pip range,after crossing between 20 and 50 ema(thats my settings)after several bars in the trend direction the price is coming back testing the 20 or 50 ema and continue at the same direction.If the market is very fast on 1 min chart you just see large candles in one direction and it is difficult to find an entry while on the 1 pip range you can use exactle these tests of the EMA'sThats one of the reasons I like the range bars,so my question is what kind of filter you can suggest me to use for going in the market exactly on the test of emas.Thanks
  • #497
  • Oct 17, 2014 5:33am Oct 17, 2014 5:33am
Quoting corratec
Hi,I would want to give me an advice,I spot that very often,if you use 1 pip range,after crossing between 20 and 50 ema(thats my settings)after several bars in the trend direction the price is coming back testing the 20 or 50 ema and continue at the same direction.If the market is very fast on 1 min chart you just see large candles in one direction and it is difficult to find an entry while on the 1 pip range you can use exactle these tests of the EMA'sThats one of the reasons I like the range bars,so my question is what kind of filter you can suggest...
First of all please tell me what instrument you're trying to use with 1 pip range bars...You should adapt the range size to the instruments volatility...Me too, i was using 1 pip range bars on currencies until 1 month ago because they were very low in volatility.

Second, i am assuming that you are using the range bars EA attached to this thread, this option (show gaps=false) is required if you want to cover gaps due to high volatility candles. When market is too fast you should avoid trading the lower size range bars charts...if you see the dow jones in these days you'll understand what i mean.

If you want all bars of the same size even in high volatility periods, you have to use the this http://www.forexfactory.com/attachme...7&d=1407264597 or this other http://forex.ovo.cz/en/?subaction=sh...&id=1380372937
First rule is not to lose. Second rule is not to forget the first rule...
  • #498
  • Oct 17, 2014 6:08am Oct 17, 2014 6:08am
I was using the dukascopy platform,looking for signals there and traded them on mt4 then i saw this forum and downloaded the indicator from the first page but for the months I trade I think havent seen gaps on the range bars.I traded only eur/usd because of the spread under 1 pip because i try to use 2-3 pips stop but without very big success... I draw all significant support and resistence levels from the last 20 years on thn the graph(I locate them with fractal support and resistence levels on 1day chart)when I draw all of them I have lines on every 2-3 pips on the 1 range frame(sometime i draw them on a 1min chart)so I try to open a position where I have in the same time test of ema and one of these drawn levels if the chart draw a new bar in the oposite side of this level I open the position with a stop on the other side which is 1-2 pips plus the spread.Or I wait for rsi to be overbought or sold then I wait the price to touch of the levels i've drawn and if price pullback 1pip I open a position...I experiment to wait for a reversal canndlestick pattern but the effect i think is worst because the stop goes larger and at the same time losing positions are usually the same as if i open a position agressively on the test...
  • #499
  • Oct 17, 2014 2:18pm Oct 17, 2014 2:18pm
Quoting corratec
I was using the dukascopy platform,looking for signals there and traded them on mt4 then i saw this forum and downloaded the indicator from the first page but for the months I trade I think havent seen gaps on the range bars.I traded only eur/usd because of the spread under 1 pip because i try to use 2-3 pips stop but without very big success... I draw all significant support and resistence levels from the last 20 years on thn the graph(I locate them with fractal support and resistence levels on 1day chart)when I draw all of them I have lines on...

May i advise you this level of zoom? This is the 1 pip range bars chart of eurusd. As you can see, with this zoom level, is much more clear, at least for my eyes. When i adopted this zoom level my performarces are increased a lot...this is the why i advise you to try.

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and here is the indicator that allows you to have the candlestick candles even with this zoom level (at this zoom level, metatrader displays only bars, not candlestick candles)

Attached File(s)
File Type: mq4 Custom candles.mq4   5 KB | 360 downloads
First rule is not to lose. Second rule is not to forget the first rule...
  • #500
  • Oct 20, 2014 9:49am Oct 20, 2014 9:49am
1trade last night. Funny how everything is divergences for me latlely, before that all squeezes. Don't know if its the market or me. But whatever works.
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