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IB Range Bands
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IB Range Bands

  #31 (permalink)
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@Fat Tails

First the IB range won't display thru the Vwap, noted by blue arrows. I can't bring the IB bands on top of vwap(if I remove vwap indicator they display fine), I am aware how to bring a object from behind another forward or vise versa, but like I stated i can't with the Ib bands after that session ends. The current active session IB bands are always on top of vwap but go behind it once that session IB ends. I am running two data feeds one for vwap set to 24/7 default. Other dadta feed is for IB indicators using session manager template on attachment...Thoughts

Issue two is I couldn't get one IB range indicator to plot multiple sessions so I used (3) IB indicators one for each session. Is it possible for one IB indicator to do all three sessions?if so please advise me how. Each of the 3 IB indicators are marked just like the one shown in attachment,First for my Asian, Second for my London and third for my NY.

Many Thx in Advance
R

Attached Thumbnails
IB Range Bands-harryib.png   IB Range Bands-harryib1.png  

Last edited by Rad4633; March 20th, 2012 at 09:27 AM.
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  #32 (permalink)
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Rad4633 View Post
@Fat Tails

First the IB range won't display thru the Vwap, noted by blue arrows. I can't bring the IB bands on top of vwap(if I remove vwap indicator they display fine), I am aware how to bring a object from behind another forward or vise versa, but like I stated i can't with the Ib bands after that session ends. The current active session IB bands are always on top of vwap but go behind it once that session IB ends. I am running two data feeds one for vwap set to 24/7 default. Other dadta feed is for IB indicators using session manager template on attachment...Thoughts

Issue two is I couldn't get one IB range indicator to plot multiple sessions so I used (3) IB indicators one for each session. Is it possible for one IB indicator to do all three sessions?if so please advise me how. Each of the 3 IB indicators are marked just like the one shown in attachment,First for my Asian, Second for my London and third for my NY.

Many Thx in Advance
R

@Rad4633:

(1) You should not use the VWAP indicator. It produces false bands and will heat up your CPU, if you use it in CalculateOnBarClose = false mode. If you like I can show you both via Skype. Please use the free SessionVWAP indicator (anaCurrentDayVWAPV38), which is available in the download section.

(2) Both indicators use the NinjaScript method DrawRegion() for coloring the respective areas. So whatever you do you will get a blend of the two colors. The only way of making the IBRangeBands visible is to select a different color and then increase the opacity of the IBRangeBands and at the same time decrease the opacity of the shaded areas produced by the VWAP indicator.

(3) The IBRangeBands produce a single range with the extensions for the selected session. If you wish to display the initial balance for several segments of the trading day, you need to apply the indicator several times. You can then save the chart template.

(4) I did not see any range bands on your chart, but just the opening range. For that purpose you could also use the opening range indicator, which is very similar, but does not plot the three extension levels.

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  #33 (permalink)
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Fat Tails View Post
@Rad4633:

(1) You should not use the VWAP indicator. It produces false bands and will heat up your CPU, if you use it in CalculateOnBarClose = false mode. If you like I can show you both via Skype. Please use the free SessionVWAP indicator (anaCurrentDayVWAPV38), which is available in the download section.

(2) Both indicators use the NinjaScript method DrawRegion() for coloring the respective areas. So whatever you do you will get a blend of the two colors. The only way of making the IBRangeBands visible is to select a different color and then increase the opacity of the IBRangeBands and at the same time decrease the opacity of the shaded areas produced by the VWAP indicator.

(3) The IBRangeBands produce a single range with the extensions for the selected session. If you wish to display the initial balance for several segments of the trading day, you need to apply the indicator several times. You can then save the chart template.

(4) I did not see any range bands on your chart, but just the opening range. For that purpose you could also use the opening range indicator, which is very similar, but does not plot the three extension levels.

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I set this chart up last night and accidently selcted the wrong vwap not the mighty german one I was having extended hold time for loading a chart, now I understand cpu overloading. Thanks for the clarification on using multiple indicators for each session

Thanks so much, Happy Trading today
ttys R

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  #34 (permalink)
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Is there an issue with setting the initial balance range fill to transparent. When I do this I still get the range filled with the default color. I would like just the bands. Is it just my machine?

thanks

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  #35 (permalink)
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syxforex View Post
Is there an issue with setting the initial balance range fill to transparent. When I do this I still get the range filled with the default color. I would like just the bands. Is it just my machine?

thanks

Setting the fill color to transparent will not completely remove the fill. Please set the opacity to zero.

The previous version did not allow to set the opacity to any value smaller than 1 (copy and paste error). I have now replaced it with a version that allows to set the opacity to 0.

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  #36 (permalink)
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Could the IBRangeBands-Indicator be modified to plot an Initial Balance for the whole week using eg the first two business days as opening period?

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  #37 (permalink)
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TempletonPeck View Post
Could the IBRangeBands-Indicator be modified to plot an Initial Balance for the whole week using eg the first two business days as opening period?

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It would be pretty unusual to use Tuesday's high and low to determine the weekly opening range.

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  #38 (permalink)
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Fat Tails View Post
It would be pretty unusual to use Tuesday's high and low to determine the weekly opening range.

When i started to get involved wt Market Profile (TPO) i met a few professional traders who were using these two days as the IB for the week. I don't think it is that unusual. They would usually expect the first two days to be range bound and mostly driven by locals. A breakout would be considered as outside participants entering into the game.

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  #39 (permalink)
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trendisyourfriend View Post
When i started to get involved wt Market Profile (TPO) i met a few professional traders who were using these two days as the IB for the week. I don't think it is that unusual. They would usually expect the first two days to be range bound and mostly driven by locals. A breakout would be considered as outside participants entering into the game.

I didnīt have this idea by myself. Ben (Private Banker) uses this concept among others, so I think it is not that unusual, too.

Harry, would you only use the first business day to determine the weekly opening range?

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  #40 (permalink)
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TempletonPeck View Post
I didnīt have this idea by myself. Ben (Private Banker) uses this concept among others, so I think it is not that unusual, too.

Harry, would you only use the first business day to determine the weekly opening range?


If I use the data of the first two days to determine the breakout points, I will have to wait until Wednesday to trade a breakout.

What would you do, if the actual breakout occurs on Monday, see chart*) below?


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*) The chart is merge-backadjusted and shows a displaced bar series of the contract 6E 06-13.

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