Hi Techfan1128,

The definition of a 4 tick range bar is just that. A bar that travels inside a 4 tick range. If the market exceeds that range, a new bar is created.

As far as back filling is concerned, every tick of price movement that show up inside a price bar is "backfilled" because you can't draw the price movement until the price movement has actually happened. This is true for every chart type.


One person's opinion amongst many,

RJay

i used to be a member of tradingfx.com, and the range bars they have for their custom platform print every 4 ticks for a 4 range. so if the market moves 4 ticks it doesnt wait for a 5th tick to print. just wondering if the no gap bars could be modified to work that way

at some point or other, one need be concerned with the concept of self delusion,

no offense meant here, just reality discussion!

when one uses a display type that smooths data for which one is chart trading and risking real money with, one need be concerned with self delusion or face the reality that their charts are not representative of raw data but smoothed data.

what I have always relied upon was the DOME!, chart trading and me need more work than my risk profile allows, hence the display of the bars, candles, tick marks or otherwise take a secondary facet to the raw data

just sharing some real world, real trading tactics

No offense here. Would you be willing to share what you look for on the DOM to place your trades. Are you just reading tape or looking at speed or both? (or neither?) Any advice would be great. I would love to trade that way too

wax on, wax off,

rinse,

repeat!

simply put, open a dome, enable: (ninja references only)
parm type = ticks
P&L type = currency
show cumm depth = true
show high/low = true
show quick = true
single click = true
simulation color = yellow

price rows = 40




put it on ES and watch it next to a T&S and your favorite chart and observe!

it will come to you after a few hours,

no amount of instruction can replace observation and conclusions drawn from those observations

I'm trying to get my head around this thread. The best I can come up with is if prices trade @ 01,02,03 and o4 in ANY combination a NEW bar is opened/started with the next tick, whether it is 04, 03, 02 or 01. So the open of the new bar is always the same as the close of the last/prior bar. With this method of building "Range Bars" IN THEORY,,, If prices stayed in a range between 01 and 04 the chart would continue to paint bars across the chart between 01 and 04.


And IF the next tick was 05, 06 or 07 (a gap up in fast market conditions) or 00,99 or 98 (a gap down in fast market conditions) the NEW bar would PAINT AS NEEDED any price(s) necessary to align the OPEN of the NEW bar to the close of the last/prior bar even though prices NEVER traded at that level.

I never meant to cause so much confusion with this. All I was saying is that the current verion of the "nogaprangebars" which is an indicator developed my a member here (RJAY) doesn't truely remove the gaps between the bars, because it still has to have 5 ticks for a new bar to print, it just removes the 1 tick gap that happens on the standard ninja bars. THe current no gap bars work fine when trading realtime, but do not back test accurately because you wont get a fill a the close of bar, but rather 1 tick above/below the bar in real time with a strategy. It has led to some other discussions and some confusion and I apologize about that. The current version of NoGapRange bars is great, I just didn't know if there could be a tweak for back testing purposes.

Hi Techfan1128,

The definition of a 4 tick range bar is just that. A bar that travels inside a 4 tick range. If the market exceeds that range, a new bar is created.

As far as back filling is concerned, every tick of price movement that show up inside a price bar is "backfilled" because you can't draw the price movement until the price movement has actually happened. This is true for every chart type.


One person's opinion amongst many,

RJay

Hi baberg,

I am the creator of the NoGapRangeBars. The code for Range bars and the code for RangeNoGap is virtually identical.

Also, RangeNoGap does not have any repainting coding. It updates the same as Range bars.

Although some believe that there needs to be gaps in the Range charts, I do not.

I have proven to my self that the gaps lessen the responsiveness of any price based indicator outside the price panel.


For example. Range 4 tick setting during a 17 tick movement with no reversal bars does the following

4 tick bar - 1 tick gap - 4 tick bar - 1 tick gap - 4 tick bar - 1 tick gap - 2 tick bar.

RangeNoGap 4 tick setting during a 17 tick movement with no reversal bars does the following

4 tick bar - 4 tick bar - 4 tick bar - 4 tick bar - 2 tick bar.


Without gaps, successive bars are closing sooner even though the bar range is identical. This provides an edge.



I also believe that every order executed deserves to be inside a bar depicting price movement.

To declare that certain orders executed get designated as gap creators and are not allowed as a bar builder makes no sense to me at all.


This is just my opinion, one of many.


RJay

P.S. I donated this chart creation to futures.io (formerly BMT) in my very first posting the week Mike opened this forum. I hoped members here who find advantage with it, and would also contribute to help upkeep this really great web site.