Need some help please. I have just discovered and like range bars since I joined this forum but I trade using MT4 and these are not standard.. Is there a script or EA I can get so I can begin using range bars. At present I have a demo NT7 with range bars as my proxy chart but this is a bit cumbersome and I'd prefer to have the range bars on MT4 directly.
Yes it's possible and there are already EA's for range bars, just google it or search on forexfactory, but anyway these are not accurate, cos builded on minute data, only on real time they change on every tick.
it's true that the range bars on MT4 are not as active as those, say, on Ninja or Tradestation. However I don't see a huge difference in system performance with the limited data. In fact, if you consider what range bars are used for it is the eliminate noise. By limiting the amount of 'minor" ticks you will have even cleaner charts. The range bars will always catch the big moves regardless of the amount of ticks it is processing.