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5" Bar


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5" Bar

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  #1 (permalink)
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Hi all,

Is there any way to gather information on how many tick moved in 5" bar over a time period and displayed on the 5" chart.

The information would display the minimum, average and maximum tick moved for 5" bar.

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  #3 (permalink)
Market Wizard
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Are you talking about 5 minute bars? You would just need to divide the range by the ticksize, this would give you the number of ticks. Where do you want to display the information and what do you need it for?


torroray View Post
Hi all,

Is there any way to gather information on how many tick moved in 5" bar over a time period and displayed on the 5" chart.

The information would display the minimum, average and maximum tick moved for 5" bar.


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  #4 (permalink)
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Hi Fat Tails,

On the upper left of 5" chart.

Sorry I am not talking about range chart. I said haw many tick moved on a 5" bar.

This information is to determined on how to act after entry. If the next bar is an inside bar or outside bar and decide to get out of the position placed earlier is wrong at a minimum loss.

I got the idea after reading a bit from Al Brooks book.

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Market Wizard
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I am afraid that I don't understand what you look for... Maaf, saya tidak bisa mengerti yang kamu bertanya.


torroray View Post
Hi Fat Tails,

On the upper left of 5" chart.

Sorry I am not talking about range chart. I said haw many tick moved on a 5" bar.

This information is to determined on how to act after entry. If the next bar is an inside bar or outside bar and decide to get out of the position placed earlier is wrong at a minimum loss.

I got the idea after reading a bit from Al Brooks book.


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  #6 (permalink)
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Hi,

I hope by attaching a 5" chart would make it clearer.

In a trading session there are short 5" bar, average 5" bar and long 5" bar.

So my question, is there any way to gather this information over a time period and display in the rectangle area.

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  #7 (permalink)
Market Wizard
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You could create an indicator that depending on a lookback period determines the minimum, average, and the maximum range. You can plot it in the upper left corner of your chart. Do not think that this helps in trading. what do you want to do with this information?

I know the book of Al Brooks, he certainly does not use this.


torroray View Post
Hi,

I hope by attaching a 5" chart would make it clearer.

In a trading session there are short 5" bar, average 5" bar and long 5" bar.

So my question, is there any way to gather this information over a time period and display in the rectangle area.


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  #8 (permalink)
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if you have a clear mathematical definition of the infos you like to have in the rectangle , then this it possible

here is the basic idea of such an indicator - the box.


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  #9 (permalink)
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Hi Max,

I have no ideas on programming.

Hi Fat Tails,

I know Al dont use it. He said some bars are Doji bars and some are trend bars. So if you enter on the wrong side you can exit the market on the next bar using information displayed on the rectangle box. For example if you enter on a Doji bar and market against you and you want exit on a trend bar the rectangle box will display how many tick is average a trend bar is and you would know where to get out.

I'll Post a chart.

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  #10 (permalink)
Market Wizard
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Now I see what you want to do. Why don't you simple colour the bars? Could take one colour for Doji bars and another one for trending bars.

I would not want to say that a wide ranging bar is always a trending bar. If

- the wide ranging bar follows a news release, it is often a balancing bar
- the wide ranging bar does not exceed a trading range, it can be a bar that covers the whole range

First you would need to refine your definition of a trending bar. Here is an exmaple of a definition:

An up-trending bar is a bar which opens near the low and closes near the high, which has an above average range and which makes a new n-bar high! It is important that the trending bar makes a contribution to shift value out of the value area of the auction process. A wide ranging bar, which does not close above or below the prior bars is no trending bar.

See also Jack D. Schwager On Futures, Technical Analysis, Concept of Thrust Bars.

Below is an example of a chart. The ranges are the value areas established by trending bars. The trending bars themselves are bright lime and red, the non trending bars are dark lime and dark red. The dojis are white.


torroray View Post
Hi Fat Tails,

I know Al dont use it. He said some bars are Doji bars and some are trend bars. So if you enter on the wrong side you can exit the market on the next bar using information displayed on the rectangle box. For example if you enter on a Doji bar and market against you and you want exit on a trend bar the rectangle box will display how many tick is average a trend bar is and you would know where to get out.

I'll Post a chart.


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