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6-range chart


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6-range chart

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  #11 (permalink)
traderbuddy
Denver, Co
 
Posts: 6 since Jan 2011
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Hi is there sample MT4 or think or Swim code available ?

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  #12 (permalink)
 omaha786 
San Diego, California
 
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Big Mike View Post
Yes, for instance if you have a 24/7 chart and your chart only goes back to Tuesday, and your friend Bob has a 24/7 chart and his goes back to some other date, then when your range bar closes and his range bar closes will be different (almost certainly).

The use of them is they are always the same measurement and price is allowed to move up or down unlimited within the range bar size, so they are simply a unique option that some traders prefer for their "smoothness".

Mike

This is not true. The bars are possibly different only at the beginning. They will become the same after making either a swing low or a swing high.

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  #13 (permalink)
traderbuddy
Denver, Co
 
Posts: 6 since Jan 2011
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As I understand it, range bars are not time sensitive. The range bar only completes after a set number of tics have spanned since start of a new range bar. That is 6 TIC range bars will each be the same length - 6 tics, regardless of how long it takes to complete.

I don't think Think or Swim currently has a range bar indicator. Ditto for MT4. Is there code to produce range bar indicators for thees platforms?

Thanks,

Gary

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Last Updated on February 6, 2011


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