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Gits (Hooglede) Belgium
Legendary Market Wizard
Experience: Master
Platform: NinjaTrader, Proprietary,
Broker: Ninjabrokerage/IQfeed + Synthetic datafeed
Trading: 6A, 6B, 6C, 6E, 6J, 6S, ES, NQ, YM, AEX, CL, NG, ZB, ZN, ZC, ZS, GC
Posts: 3,003 since Sep 2013
Thanks Given: 2,442
Thanks Received: 5,863
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Hello,
Your question is about to compare two different things.
A range chart is not time based and the relation between both will change from day to day.
Let me explain :
An hourly time chart will draw a bar, open, high, low close.
Every hour a new bar will be created.
A range chart is based on the price moving X ticks up or down.
So if the instrument stays within a certain range for a couple hours, days or more, no new bar will be drawn.
However if the price is very active a large number of bars can be drawn, even for a minute of time.
The answer to your question is that you can not really compare both.
And if today 10 bars between 12:00 and 22:00 are drawn and correspond to a couple hundred range bars
tomorrow or for another period of time, that will be completely different.
Probably that will explain it a bit.. ?
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