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Multicharts Point(Range) Bar at Session close


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Multicharts Point(Range) Bar at Session close

  #1 (permalink)
 Controllpip 
Albuquerque, NM
 
Experience: Intermediate
Platform: Tradestation & Multichart
Trading: Futures & FX
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Hello All,

MultiCharts will close out a range bar at the end of each session based on time rather than price. I use relatively long range bars (100 tick for CL and 80 tick for ES) and so it results in varying length bars at the end of a session (regardless of the session choice) which results in "false" signals for my Automated signals/strategies.

Has anyone been able to get around this in anyway? Tradestation does a great job with range bars (Range/Kase etc), they hold through the session-end and only print the close when the price has moved resulting in the close always being at the high or low of the bar which is what I am after. I need to get it done in MC if possible, otherwise I would just continue to use TS.

Perhaps I need to explore MC.NET and use a custom DLL for charting "custom" range bars? (this will be above my current coding ability). I did find a post on the MC forum and I voted for this as a new "feature", but alas, it is probably not close to happening.

Any help/guidance/suggestions would be appreciated, thank you.

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  #3 (permalink)
 
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 Jura   is a Vendor
 
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Controllpip View Post
MultiCharts will close out a range bar at the end of each session based on time rather than price. I use relatively long range bars (100 tick for CL and 80 tick for ES) and so it results in varying length bars at the end of a session (regardless of the session choice) which results in "false" signals for my Automated signals/strategies.

Has anyone been able to get around this in anyway?

Nope, because MultiCharts doesn't allow creating custom bar types (like NinjaTrader for example has), so implementing you own range bar logic isn't possible.


Quoting 
Perhaps I need to explore MC.NET and use a custom DLL for charting "custom" range bars? (this will be above my current coding ability).

I wouldn't advise that, and I'm not sure if this is even possible. All I know is that this is a huge project, because all functions that your strategy uses (like the ones for calculating moving averages, etc) will need to be rewritten based on these new "bars".

Perhaps you can adjust the logic of the strategy so that this becomes less of an issue? Otherwise, have you tried tricking MultiCharts into believing that there are no session closes? I have no idea if it works, but what if you create a session template for your instrument that starts at Monday morning and ends Friday afternoon?

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 cory 
virginia
 
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have you try post #6 suggestion?
https://www.multicharts.com/discussion/viewtopic.php?f=1&t=7132


Controllpip View Post
Hello All,

MultiCharts will close out a range bar at the end of each session based on time rather than price. I use relatively long range bars (100 tick for CL and 80 tick for ES) and so it results in varying length bars at the end of a session (regardless of the session choice) which results in "false" signals for my Automated signals/strategies.

Has anyone been able to get around this in anyway? Tradestation does a great job with range bars (Range/Kase etc), they hold through the session-end and only print the close when the price has moved resulting in the close always being at the high or low of the bar which is what I am after. I need to get it done in MC if possible, otherwise I would just continue to use TS.

Perhaps I need to explore MC.NET and use a custom DLL for charting "custom" range bars? (this will be above my current coding ability). I did find a post on the MC forum and I voted for this as a new "feature", but alas, it is probably not close to happening.

Any help/guidance/suggestions would be appreciated, thank you.


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Last Updated on October 22, 2015


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