$ RoadToRiches $ - Range Bars & PA Scalping | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Range Bars for Scalping? 28 replies

Tick Bars and/or Range bars 5 replies

ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies

1M & 5M Scalping System (Scalping Paradise) 21 replies

It's interesting how different range bars are from regular bars 0 replies

Attachments: $ RoadToRiches $ - Range Bars & PA Scalping
Exit Attachments

$ RoadToRiches $ - Range Bars & PA Scalping

  • #1
  • First Post: Edited 4:39pm Apr 19, 2016 10:55am | Edited 4:39pm
hello everyone!

I would like to share with you my scalping strategy based on Range Bars chart, price action and a few indicators :-) everything is simple and easy - we look for trend reversal patterns at the tops and bottoms :-) the easiest patterns to find and the most powerful ones are hammers and shooting stars - they work the best ;-) most of them are detected by my modified indicator based on japanese candlesticks, so you won't have a problem with finding them on the chart ;-) use some PA methods to increase its accuracy - SR levels, SD zones, trend lines, HH, HL, LL, LH - it's up to you :-)

I'm sharing this because I would like to improve this strategy a little bit, by adding a good and quite accurate trend indicator - because the whole system could be a one of those "no brainers" and I believe that together we can do this ;-) sometimes PA is not enough for Range Bars chart, so why don't make it easier to trade? :-)


ALL INDICATORS USED IN THIS STRATEGY DON'T REPAINT


IMPORTANT: you need to place "Range Bars" file inside "MQL4 \ Indicators" folder - *.dll file goes to "MQL4 \ Libraries" folder!


RULES:

- set Range Bars chart at 3 pips
- look for trend reversal patterns at overbought and oversold zones (OBOS indicator)
- SL & TP = 10 pips (move SL to BE+2 after 5 pips profit)
- best time to trade - EU session


enjoy!



Attached Image (click to enlarge)
Click to Enlarge Name: $ RoadToRiches $.png Size: 76 KB
Attached File(s)
File Type: rar $ RoadToRiches $.rar   142 KB | 2,702 downloads
Trade or not to trade - that is the question...
  • #2
  • Apr 19, 2016 11:40am Apr 19, 2016 11:40am
Doubt youl ever make consiistent money with that strategy, i think if you looking for something that works try out Choros system, never tried it myself but i think it works
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #3
  • Apr 19, 2016 11:46am Apr 19, 2016 11:46am
I use 3 pip range bars but never scalped with them I can see the possibilities tho thx
  • #4
  • Apr 19, 2016 12:01pm Apr 19, 2016 12:01pm
Quoting Soros
Doubt youl ever make consiistent money with that strategy, i think if you looking for something that works try out Choros system, never tried it myself but i think it works
I'm not looking for any other system, because I have my own it makes money but need a small improvement to become yet more profitable - that's why I'm here
Trade or not to trade - that is the question...
  • #5
  • Apr 19, 2016 3:01pm Apr 19, 2016 3:01pm
I need instructions, i.e. what to do with the "Range bar chart" file?
Return To Disorder
  • #6
  • Apr 19, 2016 4:37pm Apr 19, 2016 4:37pm
Quoting rockit
I need instructions, i.e. what to do with the "Range bar chart" file?
you need to place it inside "MQL4 \ Indicators" folder *.dll file place inside "MQL4 \ Libraries"
Trade or not to trade - that is the question...
  • #7
  • Apr 19, 2016 4:54pm Apr 19, 2016 4:54pm
This candles works like renko ?
  • #8
  • Apr 19, 2016 5:24pm Apr 19, 2016 5:24pm
Quoting Kubiasty
This candles works like renko ?
something like that, but they're a bit different for me they are much better than renko
Trade or not to trade - that is the question...
  • #9
  • Apr 19, 2016 11:08pm Apr 19, 2016 11:08pm
The system is only for EURUSD or any pair ?
  • #10
  • Apr 19, 2016 11:25pm Apr 19, 2016 11:25pm
Only copy indicators, open Template and thats it ?

Your chart looks like renko, but different from mine ; /

How to install it ?
  • #11
  • Edited 1:28am Apr 20, 2016 1:12am | Edited 1:28am
Quoting freakout
you need to place it inside MQL4 \ Indicators folder dll file place inside MQL4 \ Libraries
Yes, this is the obvious part. Then I load the template onto a chart, i.e. EUM1; now, the template will load all the indicators except the "Range bar chart".. If I drop the "Range bar chart" indicator manually onto the same chart nothing happens, it will only print a logo in the top right corner, nothing else. No errors. No range bars.
Return To Disorder
  • #12
  • Apr 20, 2016 3:00am Apr 20, 2016 3:00am
Quoting rockit
{quote} Yes, this is the obvious part. Then I load the template onto a chart, i.e. EUM1; now, the template will load all the indicators except the "Range bar chart".. If I drop the "Range bar chart" indicator manually onto the same chart nothing happens, it will only print a logo in the top right corner, nothing else. No errors. No range bars.
Same here - Dropped Range Bar Chart onto template, but just get the message top right. Any ideas what it's supposed to look like?
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADecnM15.png Size: 58 KB
  • #13
  • Apr 20, 2016 3:26am Apr 20, 2016 3:26am
Quoting boxferret
{quote} Same here - Dropped Range Bar Chart onto template, but just get the message top right. Any ideas what it's supposed to look like?{image}
1. you need to attach range bar indicator on M1 chart first and in the setteings indicate the 3 pip box size and any offline TF such as M2, M3 e.t.c. ; 2. go to open offline in a file menu and select offline chart TF that you indicated in range bar indicator setting (M2 or other) ; 3. apply the template on your opened offline chart

Done
  • #14
  • Apr 20, 2016 3:33am Apr 20, 2016 3:33am
Quoting orko_555
{quote} 1. you need to attach range bar indicator on M1 chart first and in the setteings indicate the 3 pip box size and any offline TF such as M2, M3 e.t.c. ; 2. go to open offline in a file menu and select offline chart TF that you indicated in range bar indicator setting (M2 or other) ; 3. apply the template on your opened offline chart Done
Thanks for that! Sorted.
  • #15
  • Apr 20, 2016 5:01am Apr 20, 2016 5:01am
Quoting orko_555
{quote} 1. you need to attach range bar indicator on M1 chart first and in the setteings indicate the 3 pip box size and any offline TF such as M2, M3 e.t.c. ; 2. go to open offline in a file menu and select offline chart TF that you indicated in range bar indicator setting (M2 or other) ; 3. apply the template on your opened offline chart Done
It works thanks!
  • #16
  • Apr 20, 2016 6:51am Apr 20, 2016 6:51am
Quoting freakout
{quote} I'm not looking for any other system, because I have my own it makes money but need a small improvement to become yet more profitable - that's why I'm here
Nice nickname. LoL. If you dont mind I made a little mod to the indicator. So now we can change the width, levels of OB and OS, an option to show arrows on chart. If you need any help with your improvement feel free to ask.
Attached File(s)
File Type: ex4 OBOS mod.ex4   16 KB | 800 downloads
  • #17
  • Apr 20, 2016 7:50am Apr 20, 2016 7:50am
Quoting guilherme
{quote} Nice nickname. LoL. If you dont mind I made a little mod to the indicator. So now we can change the width, levels of OB and OS, an option to show arrows on chart. If you need any help with your improvement feel free to ask. {file}
thank you very much for this modification! some time ago I was thinking about converting this indicator into something like CORON FOREX:

Attached Image (click to enlarge)
Click to Enlarge Name: rtr.png Size: 81 KB


so:
- when bars in OBOS indicator will be above level 12 - square will be red
- when bars will be between level -12 and 12 - square will be yellow
- when bars will be below level -12 - square will be lime

I will be very thankful if you can make a mod like this and upload mq4 file I attached CORON FOREX indi so you can zoom it and see what I'm talking about
Attached File(s)
File Type: ex4 coronforex-updates.ex4   5 KB | 869 downloads
Trade or not to trade - that is the question...
  • #18
  • Apr 20, 2016 8:27am Apr 20, 2016 8:27am
Quoting freakout
{quote} thank you very much for this modification! some time ago I was thinking about converting this indicator into something like CORON FOREX: {image} so: - when bars in OBOS indicator will be above level 12 - square will be red - when bars will be between level -12 and 12 - square will be yellow - when bars will be below level -12 - square will be lime I will be very thankful if you can make a mod like this and upload mq4 file I attached CORON FOREX indi so you can zoom it and see what I'm talking about {file}

Sure,
see if it is the way you want. Added the option to draw histogram or the regular way.
Attached File(s)
File Type: mq4 OBOS mod2.mq4   5 KB | 951 downloads
  • #19
  • Apr 20, 2016 9:51am Apr 20, 2016 9:51am
Quoting guilherme
{quote} Sure, see if it is the way you want. Added the option to draw histogram or the regular way. {file}
wow, thank you! this is perfect! it works even better than the original one but I have one question - how to make squares bigger, like these in CORON FOREX indicator?
Trade or not to trade - that is the question...
  • #20
  • Apr 20, 2016 10:10am Apr 20, 2016 10:10am
Quoting freakout
{quote} wow, thank you! this is perfect! it works even better than the original one but I have one question - how to make squares bigger, like these in CORON FOREX indicator?
at the beginning of the code, the size of the window is hard coded

#property indicator_minimum -35.0
#property indicator_maximum 35.0

if you change value to
#property indicator_minimum -2
#property indicator_maximum 7
the histogram will look bigger, but it will not look good using the regular way

so I would suggest you disable those line codes adding // before the line
//#property indicator_minimum -35.0
//#property indicator_maximum 35.0
and then manually change it in the settings of the indicator at the "Common" tab, and save your tempate. So you can change it quickly to use both ways.
0 traders viewing now