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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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  • #561
  • Nov 11, 2014 11:13am Nov 11, 2014 11:13am
Keep flipping back and forth from other work to the charts, and keep finding trades! I think I'm done now though... a mediocre holiday session turned into an awesome session.

Attached Image
Small disciplines repeated with consistency lead to great achievements.
  • #562
  • Nov 11, 2014 11:19am Nov 11, 2014 11:19am
Quoting Halley
{quote} Nice to see you are using POC in your trade decision. I never did so but I many times wanted In fact, my opinion is that the range bars are not the ideal chart for the footprint, but I thought about footprints calculated on tick bars, which in fact should show the VPOC. What indicator are you using for the profile? {image}
A true market profile chart would independent of time-frame/chart type/etc as it would simply provide the amount of time spent at various prices (or the amount of volume within a certain price band if using a volume profile).

I am using the attached version. Its not great as I have to flip between time frames to force the chart to update the letters. Its not a big issue as its mainly used as a historical roadmap and you just need to see where price is in relation to that roadmap.

EDIT: I reread what you said, I get it now. For volume at price plotting, in theory they should all be the same. The indicators in MT4 don't seem to work that way though... it seems to be based on bars at a certain price, in which case range charts are a poor substitute as price could sit at a certain price inside one range bar for hours but only show 1 print on a fault VAP indicator that mistakenly uses time instead of volume.

On futures using Ninjatrader, the VAP is identical regardless of charting means, as it should be. Regardless of how its plotted, the same amount of volume occurs at the same prices. However, time-at-price (traditional MP analysis) would vary depending on the bar-type.
Attached File(s)
File Type: zip ay-TPOChart-Session.v1.20-LOCK-start0.zip   313 KB | 561 downloads
Small disciplines repeated with consistency lead to great achievements.
  • #563
  • Nov 12, 2014 5:47am Nov 12, 2014 5:47am
First trade: Breakout with trend
Attached Image (click to enlarge)
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Second Trade: Change of micro-trend.
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Third Trade: Breakout with new trend.
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Small disciplines repeated with consistency lead to great achievements.
  • #564
  • Nov 12, 2014 7:02am Nov 12, 2014 7:02am
very nice day glad i picked euro open for trading(gbp claimant report usually provides some action) 2 trades 1 divergence and 1 squeeze.
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  • #565
  • Nov 12, 2014 9:33am Nov 12, 2014 9:33am
euro/usd me too today...

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EDIT:

just closed with 17 pips profit

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First rule is not to lose. Second rule is not to forget the first rule...
  • #566
  • Nov 13, 2014 2:37am Nov 13, 2014 2:37am
first trade of the day on eurusd, still opened trade:

Attached Image (click to enlarge)
Click to Enlarge Name: scalping rangne bars eurusd.JPG Size: 154 KB
First rule is not to lose. Second rule is not to forget the first rule...
  • #567
  • Nov 13, 2014 7:35am Nov 13, 2014 7:35am
Poor trading for me this morning; distracted myself by playing with Ninjatrader. I wish MT4 had a true static price ladder; trade management is so much better with it. And I wish it had native range bars like Ninja... such a better program all around.

Attached Image (click to enlarge)
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Small disciplines repeated with consistency lead to great achievements.
  • #568
  • Nov 13, 2014 7:42am Nov 13, 2014 7:42am
Quoting jmflukeiii
Poor trading for me this morning; distracted myself by playing with Ninjatrader. I wish MT4 had a true static price ladder; trade management is so much better with it. And I wish it had native range bars like Ninja... such a better program all around. {image} {image}
hey, nice to see another ninja trader here, would you share your ninja template, please, i'm curious...


This is the second trade of the day, dow jones this time:

Attached Image (click to enlarge)
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First rule is not to lose. Second rule is not to forget the first rule...
  • #569
  • Nov 13, 2014 8:01am Nov 13, 2014 8:01am
3 trades for me today 2 ggod ones, 1 dumb one. Oil is closed out, Cotton has a trailing stop and is open, Nzd/Usd has 15 pip stop on and is flopping around.
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  • #570
  • Nov 13, 2014 9:26am Nov 13, 2014 9:26am
Quoting thefxpros
{quote} hey, nice to see another ninja trader here, would you share your ninja template, please, i'm curious... This is the second trade of the day, dow jones this time: {image}
Caught this one on the NQ. And the template is attached below, along with the range bar close indicator i made.

Attached Image (click to enlarge)
Click to Enlarge Name: NQ 12-14 (3 Range) 11_13_2014.jpg Size: 102 KB
Attached File(s)
File Type: zip RangeBarClose.zip   2 KB | 474 downloads
File Type: xml JAG.xml   20 KB | 372 downloads
Small disciplines repeated with consistency lead to great achievements.
  • #571
  • Edited 10:22am Nov 13, 2014 10:09am | Edited 10:22am
NQ moves so nice -

Attached Image (click to enlarge)
Click to Enlarge Name: NQ 12-14 (3 Range) 11_13_2014 2.jpg Size: 102 KB


EDIT: One more countertrend bounce from the support created at the previous trade's exit. Then I missed the breakdown due to a phone call.

Attached Image (click to enlarge)
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Small disciplines repeated with consistency lead to great achievements.
  • #572
  • Nov 13, 2014 11:22am Nov 13, 2014 11:22am
FXpro - do you have a version of that Custom_Candle indicator that also draws the borders around the candle body?
Small disciplines repeated with consistency lead to great achievements.
  • #573
  • Nov 13, 2014 11:35am Nov 13, 2014 11:35am
Quoting jmflukeiii
FXpro - do you have a version of that Custom_Candle indicator that also draws the borders around the candle body?
mmm, unfortunately no, sorry.

I'm playing now with this indicator and i achieved this:

Attached Image (click to enlarge)
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There are 2 custom candles indicators, one above and another under, in this way you can, more or less, simulate the border...
First rule is not to lose. Second rule is not to forget the first rule...
  • #574
  • Nov 13, 2014 12:02pm Nov 13, 2014 12:02pm
Quoting thefxpros
{quote} mmm, unfortunately no, sorry. I'm playing now with this indicator and i achieved this: {image} There are 2 custom candles indicators, one above and another under, in this way you can, more or less, simulate the border...
Good thinking... it kind of works... but kind of makes me feel like there is something wrong with my vision:

Attached Image (click to enlarge)
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Small disciplines repeated with consistency lead to great achievements.
  • #575
  • Nov 13, 2014 12:10pm Nov 13, 2014 12:10pm
Quoting jmflukeiii
{quote} Good thinking... it kind of works... but kind of makes me feel like there is something wrong with my vision: {image}
well, if you zoom the chart like that, the solution is this:

Attached Image

Attached Image (click to enlarge)
Click to Enlarge Name: custom candles2.JPG Size: 148 KB
First rule is not to lose. Second rule is not to forget the first rule...
  • #576
  • Nov 13, 2014 12:17pm Nov 13, 2014 12:17pm
It's been a while since I last visited here.

Anyway, here's my trade today, executed this morning.

GJ +40 pips

Attached Image (click to enlarge)
Click to Enlarge Name: GJ_Trade - 13_11_2014.png Size: 40 KB


Isko
SMT, IPDA, Market Structure
  • #577
  • Nov 13, 2014 12:22pm Nov 13, 2014 12:22pm
Quoting thefxpros
{quote} well, if you zoom the chart like that, the solution is this: {image} {image}
Thanks, that isn't much different than just using the standard candles. I was trying to make them touching/slightly overlapped like the ninja chart. The only solution is to just move to ninja.
Small disciplines repeated with consistency lead to great achievements.
  • #578
  • Nov 13, 2014 1:50pm Nov 13, 2014 1:50pm
Quoting isko
It's been a while since I last visited here. Anyway, here's my trade today, executed this morning. GJ +40 pips {image} Isko

What was the criteria of your exit?
  • #579
  • Nov 13, 2014 2:49pm Nov 13, 2014 2:49pm
Just got back from a dive trip to Bird island spent about an hour diving then another hour kite boarding wind was ripping felt like i was flying.
My trades I left open worked out even my dumb trade wound up profitable, but cotton was awesome.(trailing stop worked perfectly, I usually manage to screw it up)
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  • #580
  • Nov 13, 2014 7:45pm Nov 13, 2014 7:45pm
Quoting Demos4x
{quote} What was the criteria of your exit?
usually its 2:1 profit to loss ratio.

Attached Image (click to enlarge)
Click to Enlarge Name: 2-1 ratio.png Size: 172 KB


isko
SMT, IPDA, Market Structure
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