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Narrow Range Days
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Narrow Range Days

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Narrow Range Days

Hey all,
I've been considering (still) different ways of looking at narrow range days / consolidation / chop. If I'm able to see this on the chart as it's developing, I'll change my trend trades to some smaller target scalps.

Attached screenshot shows regression channels of two periods.

What if we look at a levelled off longer period of the channel vs. a smaller term channel and see if the quantity of ranging bars inside show the consolidation. I'll be trying to create a zone at each channel line with barcounting to see if it has recently "wanted" to test the channel edges without adventuring beyond and breaking out of the channel. Then when it reverses back to the opposite channel line and the longer term channel remains relatively flat, we're in consolidation.

Any ideas as I work on this are appreciated!

Kirk

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Narrow Range Days-6e-03-10-2_19_2010-6-range-.jpg  
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  #3 (permalink)
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looking at daily chart it's impossible to know how a day going to turn out, you could pick up some level 15m OR, 30m OR, 60m OR then if it stays inside your range then you call it narrow range day but it may not be narrow range for someone else.

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cory View Post
looking at daily chart it's impossible to know how a day going to turn out, you could pick up some level 15m OR, 30m OR, 60m OR then if it stays inside your range then you call it narrow range day but it may not be narrow range for someone else.

that is true, forget range bars and go back to time (importent). trade on a 5 minute chart then open two rc

1. 5 min rc with 12 bars for one hour ...
2. 5 min rc with 288 bars for one day, calc on 1440 minutes

and set daily target ...

or make indicator start at 0:00 (forex) else 8:00 or so and add each hour 20 bars in the rc ...

Causality is the relationship between an event (the cause) and a second event (the effect), where the second event is a consequence of the first.
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  #5 (permalink)
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hi zeller!
i think there is a missunderstanding in your Q!

Do you really want look to detect narraow-range full-days in advance ?

or do you look how to detect a range / chop mode intraday to change or adjust your trading-style + targets for this zones ?

i understand it more that you mean the second possibility.
if so - another idea would be to change to cycle-mode-trades instead of trend-trades - have a look to our discusion here : https://futures.io/elite-circle/2697-trend-mode-cycle-mode.html


but of course this didnt answer the Q of the detection / definition of a ranging zone wich is the harder thing to catch


thanks for infos !

-

max-td

Last edited by max-td; February 22nd, 2010 at 03:44 AM.
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  #6 (permalink)
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yes Max,
you're correct, the second one.

I've read through the cycle thread you posted, need to re-read...

Yes, I want to change my profit targets to tighter scalping trades when I see it moving into a ranging scenario. I know you can have the narrow channels even when the channel lines are above a certain slope so I'm not sure yet the best way to tell me to change to a scalp.

I'll check again your post #8 in the cycle thread.

thx,

Kirk

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