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The power of range bars

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  • #801
  • Jul 22, 2015 9:34am Jul 22, 2015 9:34am
I think that range bars are more powerful than any other tool in forex because it allow you to neglect time..time here is relative and each candlestick has its own duration and that is what make range bar a great tool to look at markets from a quantitative look:trends,ranging markets and breakouts are easy to detect here
I really enjoyed this thread
One more thing,can someone help me finding a way to trade range bars in MT5 ?
  • #802
  • Aug 4, 2015 3:02pm Aug 4, 2015 3:02pm
Quoting neo1993
I think that range bars are more powerful than any other tool in forex because it allow you to neglect time..time here is relative and each candlestick has its own duration and that is what make range bar a great tool to look at markets from a quantitative look:trends,ranging markets and breakouts are easy to detect here I really enjoyed this thread One more thing,can someone help me finding a way to trade range bars in MT5 ?
Had a quick search and i can't find anything better than this https://www.mql5.com/en/market/product/3851# for mt5.
First rule is not to lose. Second rule is not to forget the first rule...
  • #803
  • Aug 4, 2015 3:22pm Aug 4, 2015 3:22pm
Hey didn't see u in a long time fxpro, how are you and hows trading lately.
  • #804
  • Aug 7, 2015 9:16am Aug 7, 2015 9:16am
Quoting Jysticim
Hey didn't see u in a long time fxpro, how are you and hows trading lately.
Hi,

i will resume trading in september or october. I am fully involved into other stuff now.
First rule is not to lose. Second rule is not to forget the first rule...
  • #805
  • Aug 24, 2015 5:51am Aug 24, 2015 5:51am
Hello thefxpros and everybody,

My 1st post here, EJ +44

I did not expect it to run this far, but there was good volatility and the chart kept me in. The analysis is pretty simple: price was previously rejected from the top area, divergences show loss of momentum and there is a Stoch breakdown as well; trendlines started giving away, price failed to make a new HH and broke down.
edit: trendlines are placed on close of bar, not on shadow! also, the 2nd trade (find waldo...) is me being stupid...

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There is still work to be done as I am accommodating to this type of charting...but things look good
  • #806
  • Aug 25, 2015 7:37am Aug 25, 2015 7:37am
Took two trades today; I was mostly reading so they were pretty much scalps

EU and EJ; +13 and +15

Both trades are based on price losing momentum near SR levels and following behavior showing signs of reversal.

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Both charts are 4 pip range bars but I was also looking at the 10 pip since there was volatile conditions.
  • #807
  • Aug 25, 2015 7:45am Aug 25, 2015 7:45am
Quoting MisterC
Took two trades today; I was mostly reading so they were pretty much scalps EU and EJ; +13 and +15 Both trades are based on price losing momentum near SR levels and following behavior showing signs of reversal. {image} {image} Both charts are 4 pip range bars but I was also looking at the 10 pip since there was volatile conditions.
Great work! These days are pretty volatile i would say...be carefull!
First rule is not to lose. Second rule is not to forget the first rule...
  • #808
  • Aug 25, 2015 8:08am Aug 25, 2015 8:08am
Quoting thefxpros
{quote} Great work! These days are pretty volatile i would say...be carefull!
I know, that's one of the reasons I did not want to leave the trades unattended...I didn't wanted to leave pips on the table.

Until the China situation remedies itself I think there will be increased volatility...or at least until the hype wears off...
  • #809
  • Sep 3, 2015 10:02am Sep 3, 2015 10:02am
Many thanks to thefxpros for his work here. You are my inspiration.
I am trying to follow your way of thinking.
Now I am using bbands stop indicator but thinking about stepma averages. I dont know, it looks better on your screens. Is it worth buying? In my country the price is x4
Can you compare these two indicators on one chart.
Today trade
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and ))))))))
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  • #810
  • Sep 6, 2015 10:38am Sep 6, 2015 10:38am
Quoting bazylisheq
Many thanks to thefxpros for his work here. You are my inspiration. I am trying to follow your way of thinking. Now I am using bbands stop indicator but thinking about stepma averages. I dont know, it looks better on your screens. Is it worth buying? In my country the price is x4 Can you compare these two indicators on one chart. Today trade {image} and )))))))) {image}
Hi!

Nice to hear that! thank u!

First thing i would say that you are using range bars no gap version. I use the gapped version and i never been able to find a good setup with indicators on the no gap version of the range bars. Probably i am the moron but i tried a lot of different configurations and i found that indicators don't adapt so well with no gap version. As long as i started this thread i often said that the gapped version is very very easier to trade for my eyes and so i have developed all my strategy, working on indicators settings, for the gapped version. From your pic, i see that also bband stops don't work well on no gap version.

Second thing: The coloured ma that i see in your screenshot is the stepma 7.2 or 9 if i am not wrong. The step ma averages is another planet as indicator, it is heavily customizable and yes it worth the buy. I cannot share it for free and i'm sorry for this and i don't want to switch this thread into a commercial one, that's not the goal of this thread.

If you want to buy the stepma averages please contact me and i'll provide you a link and i'll include another indicator as gift.

Hope it helps


Pepe
First rule is not to lose. Second rule is not to forget the first rule...
  • #811
  • Sep 8, 2015 3:53pm Sep 8, 2015 3:53pm
Good evening guys,

i had a bit of time this evening and i opened my platform since a long time. Good scalping opportunities on eur future and good profit made!

i can't wait to resume trading full time! See you soon


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recap

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Pepe
First rule is not to lose. Second rule is not to forget the first rule...
  • #812
  • Sep 10, 2015 1:01pm Sep 10, 2015 1:01pm
Yesterday daily candle of eurusd pair suggested an high probability up move today.

So let's go up:

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trading is easy...


Pepe
First rule is not to lose. Second rule is not to forget the first rule...
  • #813
  • Edited 8:32am Sep 11, 2015 8:20am | Edited 8:32am
live oil buy trade on new acquired support, stop loss at entry point...let's see what happens


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resistence hold, let's see on next support:

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Support hold...time for break up?:

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mmh weak move, usa open...better to close. Out with 11 ticks profit:

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yes, definitely better:

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Pepe
First rule is not to lose. Second rule is not to forget the first rule...
  • #814
  • Edited 12:38pm Sep 11, 2015 9:01am | Edited 12:38pm
eurusd now...live buy trade on support level:

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closed buy at breakeven and opened sell order:

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out on support with 6.6 pips profit:

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Great buy trade on the support, low risk, big reward! done for the day...

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Pepe
First rule is not to lose. Second rule is not to forget the first rule...
  • #815
  • Sep 14, 2015 6:29am Sep 14, 2015 6:29am
thefxpros - thanks for your advise. Now I check how range bars with gaps works and it looks much better.
One question about your last trade on the suport. I see the price was below your indicators so what exactly was your support?
  • #816
  • Sep 15, 2015 4:52pm Sep 15, 2015 4:52pm
Quoting bazylisheq
thefxpros - thanks for your advise. Now I check how range bars with gaps works and it looks much better. One question about your last trade on the suport. I see the price was below your indicators so what exactly was your support?
i meant this support, i was looking at bigger sizeframe

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Pepe
First rule is not to lose. Second rule is not to forget the first rule...
  • #817
  • Sep 17, 2015 3:21pm Sep 17, 2015 3:21pm
News trading can be very profitable.

caught eurusd buy rally on FOMC statement release...

117 pips and counting

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Pepe
First rule is not to lose. Second rule is not to forget the first rule...
  • #818
  • Sep 17, 2015 8:45pm Sep 17, 2015 8:45pm
Hi guys... I'm using ranges method too...to avoid paying swaps.
I'm so enjoy increased adrenaline in manual trading .
I have to disciplined with Current Daily , Weekly and Monthly Ranges....that I apply for this....
for an example ... EurJpy Daily bullish +/- 2000 pips ( 5 digits ) and I open position sell to get little reverse or correction....that simple and always profit.
Usually forex's current ranges are +/- 5000 - 6000 pips weekly and 7000 - 8000 pips monthly ( 5 digits )
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  • #819
  • Sep 18, 2015 6:07am Sep 18, 2015 6:07am
Quoting Ramaparasu
Hi guys... I'm using ranges method too...to avoid paying swaps. I'm so enjoy increased adrenaline in manual trading . I have to disciplined with Current Daily , Weekly and Monthly Ranges....that I apply for this.... for an example ... EurJpy Daily bullish +/- 2000 pips ( 5 digits ) and I open position sell to get little reverse or correction....that simple and always profit. Usually forex's current ranges are +/- 5000 - 6000 pips weekly and 7000 - 8000 pips monthly ( 5 digits ) {image} {image}

mmh interesting, can you go further in explaining your method, please?


Pepe
First rule is not to lose. Second rule is not to forget the first rule...
  • #820
  • Sep 18, 2015 8:12am Sep 18, 2015 8:12am
ahahaha .... simple method that good enough for part time trader and beginner like me ....

ok ....let say this day --- Friday Sept 18 2015 (eventhough I'm not trade on Friday because price usually STOP on above or bottom, and then saturday is off)

Friday Sept, 18 2015 : Open 1.55828
Daily High 1.56584
Daily Low 1.55565
Daily Ranges 1019 points ..... Position Candle Direction Bullish

I'm opening orders if Ranges +/- 1750 - 2000 points.
SELL between 1.57315 (min) ---- 1.57565 (max)
BUY between 1.54834 (min) ---- 1.54584 (max)

its safe for me and its no longer when order position is floating....

and sometimes I'll open pending orders (SELL STOP) on Daily Open 1.55828 if marked reversed.

but its different in any pair for Daily High Low
- GbpUsd , EurUsd , UsdJpy , EurJpy = +/- 1750 - 2000 points (5 digits broker).
- NzdUsd , AudUsd = +/- 1250 - 1500 points (5 digits broker).

Usually High Low for forex :
- Daily +/- 1750 - 2000 points (5 digits broker).
- Weekly +/- 5000 - 6000 points ( 5 digits )
- Monthly +/- 7000 - 8000 points ( 5 digits )

but depending on its pair....

Regards


Ricky
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