NoGapRangeBars / RangeNoGap

November 24th, 2009, 08:31 PM

Just coded an experimental RAT using Median Renkos. Looks promising....go with the LT trend, catch a ride. Indicator shows entries and exits each bar - basically same logic as the RangeBar High Low which only plots current bar.

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Download: Range Bar High Low Current Bar Indicator v2

This indicator plots the maximum high or minimum low of a forming Range Bar. The plots disappear as soon as a new bar forms or the current bar has filled its required range. Nov 5th: have fixed coding problem so that it will no longer function when …

cclsys

November 25th, 2009, 08:54 AM

cclsys

RJay, thanks for your Median Renko.

If you feel inspired, could you please explain why you think they deserve a medal?

Also, could you explain the 'rules' of the Median bar formation.

I would like to write something that can plot the point at which a new bar will be formed in either direction, similar to what I have for Range Bars. I find it very helpful with such bars. The Renkos do seem superior in terms of identifying and sticking with trend moves. But also they can take some wicked whipsaws it seems.

Am I right that these Medians essentially follow the original Renkos but just plot what is happening better versus the current action being missing until new bar is formed?

Or is there something more going on?

PS/Hint: If you feel inspired to code up something like my RangeBarHighLow (in downloads area) for your MedianR's, that would be wunderbar!

cclsys,

I really have to admire your enthusiasm.

Just want to clear a few things up.

MedianRenko were created by Roonius while working to create a live version of Renko Bars last summer.

Several months earlier I had a project of my own with a specific goal in mind.

I did not like the chart type selection and created one of my own that fit my requirements.

I called this chart type RenkoMedian.

You can now see the confusion.

The two charts look somewhat similar but the coding is not.

Roonius posted his. I have not. My choice!!!

I have shared NoGapRangeBars here as well as dozens of indicators.

I will take a peek at what your posting but will not make any promises.

I am extremely busy with my own projects.

RJay

December 3rd, 2009, 04:01 AM

RJay,

Than you for your contribution. My students were going nuts over NT's way of plotting range bars. I use TS myself so have not had this problem.

Thank you
JamTheTrader
[email protected]

December 3rd, 2009, 12:02 PM

RJay

As promised, here is the first of my contributions.

I can't stand the way NT's Range Bars have that stupid gap.

Or how the first tick of bar is colored the reverse direction of where it is going. And who needs that extra noise when the market is going sideways.

Attached is NT's Range bars with a slight modification on where the bar start occurs. I think it makes for a cleaner chart.

Let me know what you think. If this is a keeper, I can put it in the download section.

As always, please test before using live.

Update: Zip file has been relocated to the misc download area.

Have Fun,

RJay

RJay,

Where is the NoGapRangeBars attachment? Am I missing something? I'd like to try it.

Thanks,
-Tom

December 3rd, 2009, 12:06 PM

cclsys

Just coded an experimental RAT using Median Renkos. Looks promising....go with the LT trend, catch a ride. Indicator shows entries and exits each bar - basically same logic as the RangeBar High Low which only plots current bar.

what is that askbartimer?
does it require, under ninja, constant feed, so if you rescale, resize or chnge symbols, you loose the data from the volume analysis of the prior bars, ticks, up, downs, etc?

please perhaps post a download link, unless restricted to VIP section only (that sort of thing, don't want to violate rules or anything)

thanks in advance

December 3rd, 2009, 12:24 PM

tomgilb

RJay,

Where is the NoGapRangeBars attachment? Am I missing something? I'd like to try it.

Thanks,
-Tom

Update: Zip file has been relocated to the misc download area.

December 4th, 2009, 01:15 PM

RJay

Update: Zip file has been relocated to the misc download area.

Thank, RJay!

Here the new location:

Download: NoGapRangeBars_NT65

This is a slightly modified version of NinjaTrader's Range Bars. In NinjaTrader's Range Bars, the Open[0] of each bar equals Close[0]. In This version, the Open[0] of each bar equals Close[1] . NinjaTrader's Range Bars set on a 4 tick range needs …

RJay

-Tom

December 20th, 2009, 07:41 AM

RJay,

Please have a look at these charts and notice that the 4 range and 4 range no gap are almost identical and the 5 range no gap does not match the 4 rand gap at all with the same instrument same data vendor. Does this just back fill?

Thanks in advance.

JamTheTrader

December 20th, 2009, 02:07 PM

JamTheTrader

RJay,

Please have a look at these charts and notice that the 4 range and 4 range no gap are almost identical and the 5 range no gap does not match the 4 rand gap at all with the same instrument same data vendor. Does this just back fill?

Thanks in advance.

JamTheTrader

JamTheTrader,

5 RangeNoGap is comparable to NT's 4 Range bars.

Both need 5 ticks to create a new bar.

If the charts start at different times, plus NT's reverse First tick gap issues will result in slightly different looking charts.

Looking at your images lined up, 1 and 3 certainly look similar to me.

RJay

December 20th, 2009, 03:40 PM

Thanks for clarifying

Jam

NoGapRangeBars / RangeNoGap

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NoGapRangeBars / RangeNoGap