Nicolellis Range Bars - NinjaTrader Programming | futures io social day trading
futures io futures trading


Nicolellis Range Bars
Updated: Views / Replies:5,443 / 12
Created: by JamTheTrader Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Nicolellis Range Bars

  #1 (permalink)
Membership Revoked
Juno Beach
 
Futures Experience: Advanced
Platform: Ninja and TS
Broker/Data: Optimus Futures / Matt
Favorite Futures: multiple
 
JamTheTrader's Avatar
 
Posts: 135 since Sep 2009
Thanks: 22 given, 116 received

Nicolellis Range Bars

Does anyone know of a true range bar for ninja 6.5 and 7.0 that is not just a modified momentum bar? (Yes they are close but not exactly the same)

Range Bars The example stated are for illustrative purpose only, and should not be viewed as advice or guarantee of performance.
Nicolellis Range Bars were conceived in 1995 by a Brazilian broker and trader - Vicente M. Nicolellis Jr.
During 13 years running a trading desk in Sao Paulo, where local markets tend to be volatile, he wrestled with the problem of how to handle this volatility and its variability. Finally he concluded that the most promising approach would be to eliminate time from the equation, and just concentrate on price.
After all it is price that you trade (rather than time, unless it is an options market).
Essentially this reverts to the early days of Technical Analysis, and the use of Point an Figure Charts which just record price changes.
By using a constant range, ex. 10, and opening a new bar once that range is covered, one can also apply modern concepts of indicators, which are bar based.
In 1996 the concept was computerized, which meant that many more markets could be studied.
Experience in the last 8 years has shown that Nicolellis Range Bars are particularly good at focusing on and clarifying movement.
The way in which a long meandering, horizontal "congestion" is condensed into a bar or two, concentrates attention on the essential underlying price movement while eliminating unnecessary "clutter" and "noise".
This also makes the use of Trendlines easier.
The range bars just look price, the bar does not close at a specific time but closes when a range is complete, then a new bar opens.
If you have a market that moves from 1 to 9, then 9 to 1, then 1 to 9 during 2 days, if you create a range bar chart of $10 you will only have a bar that goes from 1 to 9 during these 2 days and this bars is not closed. If the market moves to 10 then the bar closes and a new bar opens with open price at 10. This new bar now must have $10 range to close. Letís say the market goes back to 6 and then up to 17, the last range bar closes at 16 (making a range bar from 6 to 16) a new bar opens with open price at 16 and this bars price is now 17. This new bar has now a range of $1 (16 to 17) and will wait until a complete $10 range to close.
This is interesting in a market in congestion; you can have days with no new bar opening, the next picture shows IBM in a 78 minute chart and in a $2.50 range bar chart.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Thanks in advance,
JamTheTrader

Reply With Quote
 
  #2 (permalink)
Elite Member
Sydney, NS
 
Futures Experience: Intermediate
Platform: Ninja
Broker/Data: Zen-Fire
Favorite Futures: TF,S,GC
 
cclsys's Avatar
 
Posts: 607 since Nov 2009
Thanks: 248 given, 379 received

Jam, I would like to be sure I understand your query in terms of the bars I am aware that currently exist:

The default range bar waits for a close above the range so it does not form as soon as the range is complete.

As far as I understand it, Range-Alt is the same this way.

There is a NoGap Range bar but I believe it too waits for a higher/lower close but does not display it as such rather plots the open price as being the same as the previous close even though this was not the case. If I am wrong in this, then perhaps the RangeNoGap type is already doing what you are defining above.

Now it is quite possible that I have misunderstood one or all of these bar formation methods. If I have not, it sounds like you are asking for something that doesn't exist yet but could/should. Perhaps someone else with better coding understanding could chime in to clarify what we already have in range bar options and how Jam's suggestion differs or not from them.

Reply With Quote
 
  #3 (permalink)
Membership Revoked
Juno Beach
 
Futures Experience: Advanced
Platform: Ninja and TS
Broker/Data: Optimus Futures / Matt
Favorite Futures: multiple
 
JamTheTrader's Avatar
 
Posts: 135 since Sep 2009
Thanks: 22 given, 116 received


cclsys,
The range bars in ninja are actually a momentum bar in Tradestation, where as the range completes then 1 tick above or below the range the next bar is printed. That is called a momentum bar in TS and Ensign, although I believe Ensign uses that for a range bar as well. The problem is the gap, and even back filling the gap does not give the real range bar. according to the article, a 10 tick range bar should start a new bar at 10 ticks not 11 ticks.

Bottom line is that I am used to it in tTradestation and trade with a 5 tick RB, and I have to use a 4 tick gap or no gap RB in NinjaTrader to come close.

If I am not 100% correct on all assumptions I will apologize ahead, but, their is a significant difference just visually regardless if you use no gap or standard RB when compared to NinjaTrader or Fibonacci Trader (love the Fib Trader platform)

Jam

Reply With Quote
 
  #4 (permalink)
Elite Member
Sydney, NS
 
Futures Experience: Intermediate
Platform: Ninja
Broker/Data: Zen-Fire
Favorite Futures: TF,S,GC
 
cclsys's Avatar
 
Posts: 607 since Nov 2009
Thanks: 248 given, 379 received

Jam, I am not sure I understand all the coding nuances between the various NT RB options but I must say I get the feeling that your extract definition from Nicollelis is currently not available and I would like to see it myself. It makes sense. It is codeable (though not by me). Hopefully someone here or elsewhere will put it together. Maybe Roonius will get inspired (hint hint!)?

Reply With Quote
 
  #5 (permalink)
Membership Revoked
Juno Beach
 
Futures Experience: Advanced
Platform: Ninja and TS
Broker/Data: Optimus Futures / Matt
Favorite Futures: multiple
 
JamTheTrader's Avatar
 
Posts: 135 since Sep 2009
Thanks: 22 given, 116 received

cclsys,
I was planning on paying my programmer to program in NT 7, I will post for every one when it is done. I need it for my room anyway. Ii will be in Jan.

The NoGapRB by RJay did not work on 7.0 for me

Jam

Reply With Quote
 
  #6 (permalink)
 Vendor: www.innovative-trading-solutions-online.com 
Hartford, CT. USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: AMP/CQG, Kinetick
Favorite Futures: TF
 
RJay's Avatar
 
Posts: 677 since Jun 2009
Thanks: 726 given, 740 received


cclsys View Post
Jam, I would like to be sure I understand your query in terms of the bars I am aware that currently exist:

The default range bar waits for a close above the range so it does not form as soon as the range is complete.

As far as I understand it, Range-Alt is the same this way.

There is a NoGap Range bar but I believe it too waits for a higher/lower close but does not display it as such rather plots the open price as being the same as the previous close even though this was not the case. If I am wrong in this, then perhaps the RangeNoGap type is already doing what you are defining above.

Now it is quite possible that I have misunderstood one or all of these bar formation methods. If I have not, it sounds like you are asking for something that doesn't exist yet but could/should. Perhaps someone else with better coding understanding could chime in to clarify what we already have in range bar options and how Jam's suggestion differs or not from them.


cclsys,

You are absolutely correct about the bar formations.

Also, I would love to start converting my stuff to NT 7.0 But NT won't let me have the Beta Version.

RJay

Reply With Quote
 
  #7 (permalink)
Membership Revoked
Juno Beach
 
Futures Experience: Advanced
Platform: Ninja and TS
Broker/Data: Optimus Futures / Matt
Favorite Futures: multiple
 
JamTheTrader's Avatar
 
Posts: 135 since Sep 2009
Thanks: 22 given, 116 received

RJay,
I think I can get you a beta version, do you want me to check in the morning?


Jam

Reply With Quote
 
  #8 (permalink)
Membership Revoked
United States of America
 
Futures Experience: Advanced
Platform: NT
 
Posts: 1,149 since Aug 2009
Thanks: 262 given, 471 received


RJay View Post
cclsys,

You are absolutely correct about the bar formations.

Also, I would love to start converting my stuff to NT 7.0 But NT won't let me have the Beta Version.

RJay

Really?

Doesn't NT know you're a Market Wizard?

Reply With Quote
 
  #9 (permalink)
 Vendor: www.innovative-trading-solutions-online.com 
Hartford, CT. USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: AMP/CQG, Kinetick
Favorite Futures: TF
 
RJay's Avatar
 
Posts: 677 since Jun 2009
Thanks: 726 given, 740 received


JamTheTrader View Post
RJay,
I think I can get you a beta version, do you want me to check in the morning?


Jam

Jam,

I'm all set.

Thanks,

RJay

Reply With Quote
 
  #10 (permalink)
Elite Member
Sydney, NS
 
Futures Experience: Intermediate
Platform: Ninja
Broker/Data: Zen-Fire
Favorite Futures: TF,S,GC
 
cclsys's Avatar
 
Posts: 607 since Nov 2009
Thanks: 248 given, 379 received


Well, I just hope you or whomever makes it available for 6.5 as well! I am not using Range Bars anymore right now, but I remember reading this Nicolelli description a while back and finding I like the logic better even though his method does not compact the visual presentation so much because a new bar will start to form as soon as the range is complete. Personally I like to see how long a market has stayed stuck somewhere. That said, current Range Bar formulations are still quite helpful in emphasising directional moves. If a 'RangeN' came out, I would want to take a long, hard look at it.

Reply With Quote

Reply



futures io > > > > > Nicolellis Range Bars

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Is it possible to use range bars on MT4 gracepips MetaQuotes MetaTrader MQL Programming 3 May 15th, 2012 01:28 AM
renko bars vs range bars? shodson Traders Hideout 21 April 26th, 2012 04:52 PM
help w/ range bars... YertleTurtle NinjaTrader 2 May 25th, 2011 09:10 PM
How do YOU use range bars? recollect Traders Hideout 2 August 4th, 2010 12:15 AM
Does any one here uses range bars? Lalo Traders Hideout 3 June 1st, 2010 01:07 AM


All times are GMT -4. The time now is 12:17 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-15 in 0.16 seconds with 19 queries on phoenix via your IP 54.226.34.209