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walterw

Range Bars vs Tick bars

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I am looking at mkp work with range bars, and I am experimenting a little bit with them... seems like it makes a much cleaner chart...

 

Would like to hear what experience do other fellow traders have with range bars, thought they are not that much popular, they seem to work pretty well... thanks Walter.

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Unfortunately TradeStation does not supply range bars. I wish they did. One of the trading magazines had an article about them recently and they seem very straightforward. They are probably really good for level type trading like your flip trades, walter.

 

Alas...

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  GCB said:
Unfortunately TradeStation does not supply range bars. I wish they did. One of the trading magazines had an article about them recently and they seem very straightforward. They are probably really good for level type trading like your flip trades, walter.

 

Alas...

 

 

Thanks for response GCB, so far the experience with this type of bars has been quite well... cheers Walter.

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I am playing around with them right now. I have Sierra and its easy to change them around. so far i have been playing with 1.0 R on the ES, 1.0 on the Er and 10 R on the Ym. the charts are amazingly clean and you can clearly see Supp/Res lines and other patterns jump out at you, almost too clearly. I have backtested all three and the ES seemed to work the best but i didnt extensively go back, that will take a while. tomorrow i may open up a 1.0R es chart with my studies alongside my regular chart and SIm the range chart. I'll keep you posted on what i'm finding if you'd like.

 

Tony

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  tony1d said:
I am playing around with them right now. I have Sierra and its easy to change them around. so far i have been playing with 1.0 R on the ES, 1.0 on the Er and 10 R on the Ym. the charts are amazingly clean and you can clearly see Supp/Res lines and other patterns jump out at you, almost too clearly. I have backtested all three and the ES seemed to work the best but i didnt extensively go back, that will take a while. tomorrow i may open up a 1.0R es chart with my studies alongside my regular chart and SIm the range chart. I'll keep you posted on what i'm finding if you'd like.

 

Tony

 

Nice Tony, we will follow your posts.... cheers Walter.

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When you say mkp do you mean Market Profile? "True" MP can only use the 30 minute TPOs, not range bars or any other bars. I tried MarketDelta with range bars and didn't like them. All I saw was a lot of noise so I found it difficult to identify new trends early as I can with time-based candlesticks.

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  notouch said:
When you say mkp do you mean Market Profile? "True" MP can only use the 30 minute TPOs, not range bars or any other bars. I tried MarketDelta with range bars and didn't like them. All I saw was a lot of noise so I found it difficult to identify new trends early as I can with time-based candlesticks.

 

I think he means mkp as in the member mkp14 that posts here.

 

Cheers....Blu-Ray

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Now i know i must be an idiot, i see the second part of the process but i cant locate the first part, with the editor and rapidshare as to how to upload the chart.

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attachment.php?attachmentid=2002&stc=1&d=1184615636

 

My first time posting a chart... hope it works... I played with 1 point ES range bars today and if you can see the chart, you'll notice we had a fairly "markets in balance" day. We moved out of value twice and it was rejected back in value areas (blue lines) Purple and red lines are pivot points. There were only a few opportunities today. You'll notice the range bars clearly show support and resistance. R1 (top red line) was a good short back into value and the 80% rule worked as the locals drove it down to the lower value area. That was the best pplay of the day, 8 points i'll take any time. I would have taken the breakout above value to R1 but miight have only gotten a point or so out of it. I'll continue to try range bars, i like the clearly defined patterns and you'll notice much less "noise" I am not a fan of trading in the value areas so i sit onmy hands a lot. I'll keep you posted.....

 

Tony

1ptesrange.png.ad6430ab207d7b6c55e113d587c8f089.png

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  tony1d said:
Now i know i must be an idiot, i see the second part of the process but i cant locate the first part, with the editor and rapidshare as to how to upload the chart.

 

 

jajaja... now you already have 10 % IQ Tony ¡¡¡ jejeje.... nice charts there Tony, keep them coming... I see you are playing the Value areas levels... How would you use CCI on your trades ? cheers Walter.

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A little bit of Woodie and a little bit of Dr. Bob. I'll play a 50CCI (bars) cross of the 0 line and price crosses the 34 EMA at the same time. (countertrend so i dont take them all) and i'll play the 14CCI (white line) trend trade on the hook back representing a pullback from the 100 or -100 line across zero. Those are pretty high % trades. Of course if price is in the value area, i trade completely different. Value area rejections, 80% rule, or i wait for other timeframe players to enter the market on a breakout. I also have 2 other timeframe charts not listed. One is an 89T chart with regression channels and a M/A and a 15 minute chart for longer timeframe reference. I'm liking these range bars...

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