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NoGapRangeBars / RangeNoGap
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NoGapRangeBars / RangeNoGap

  #1 (permalink)
 Vendor: www.innovative-trading-solutions-online.com 
Hartford, CT. USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: AMP/CQG, Kinetick
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Posts: 677 since Jun 2009
Thanks: 726 given, 740 received

NoGapRangeBars / RangeNoGap

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

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NoGapRangeBars / RangeNoGap-nogaprangebars.jpg  

Last edited by RJay; August 24th, 2009 at 02:41 PM.
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  #2 (permalink)
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Does this effectively make the 4 range 'No Gap Bars' equivalent in price action to standard 'gap' 3 range bars?

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  #3 (permalink)
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Neal View Post
Does this effectively make the 4 range 'No Gap Bars' equivalent in price action to standard 'gap' 3 range bars?

Hi Neal,

Good Question. The price ticks per bar remains the same. The only change is Open[0]. It is set to equal Close[1] instead of Close[0] at First tick of bar.

All other calculations remain the same.

RJay

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  #4 (permalink)
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I believe I understand what you are saying, but if standard NT range bar open 1 tick above/below the prior bar, and your no gap bars open at the close of the prior bar, there is a 1 tick difference in price movement.
ES Example:

Standard NT 4 range bar1: up close 940.00; bar2 opens at 940.25 and if it goes straight up, closes at 941.25; bar3 opens at 941.50 and if it goes straight up, closes at 941.75

No Gap 4 range bar1: up close 940.00; bar2 opens at 940.00 and if it goes straight up, closes at 941.00; bar3 opens at 941.00 and if it goes straight up, closes at 942.00

Standard NT 3 range bar1: up close 940.00; bar2 opens at 940.25 and if it goes straight up, closes at 941.00; bar3 opens at 940.25 and if it goes straight up, closes at 942.00

So it seems to me that No Gap 4 range bar = Standard NT 3 range bar for price action.


Last edited by Neal; June 14th, 2009 at 05:41 PM.
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  #5 (permalink)
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Neil,

You are absolutely correct. NT's 4 tick range chart uses 5 ticks for each bar.

My 4 tick range chart only uses 4 ticks. If you want the charts to line up,
Set mine to 5 ticks.

Sorry about the confusion,

RJay

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  #6 (permalink)
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RJay,

I tried to download the zip file into ninja 6.5 and got the error shown on the following screencast link.
http://screencast.com/t/hE8CmlY1Lbc

If you tell me what folder I should put the CS file in, I can manually do that. I just don't know where to put it. I don't think it goes in the indicator folder.

Todd

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 Vendor: www.innovative-trading-solutions-online.com 
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Todd View Post
RJay,

I tried to download the zip file into ninja 6.5 and got the error shown on the following screencast link.
http://screencast.com/t/hE8CmlY1Lbc

If you tell me what folder I should put the CS file in, I can manually do that. I just don't know where to put it. I don't think it goes in the indicator folder.

Todd

Hi Todd,

The new zip program on my computer has hijacked NT's zip utility.

Sorry about that.

unzip the file and put it in the ninjatrader6.5/bin/custom/type folder.

Then import any indicator with NT's import utility. this will trigger a reset of intellisense's cache.

Open an edit of any indicator, compile and save. This will reload the cache.

exit and restart NT. (save workspace)

New listing will be in the type dropdown list.

Good luck,

RJay

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


Last edited by RJay; August 24th, 2009 at 02:42 PM.
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  #8 (permalink)
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RJay,

Nevermind.... I found the type folder... it was in a slightly different place but it's all good now.

Thanks for sharing this bar type.

Todd

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  #9 (permalink)
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TraderNinja View Post
Hey RJay,

I really like these range bars without the gaps between the bars. Thanks for sharing this! Is it possible to create this for TradeStation ?

Hi TraderNinja,

Glad you like the bars.

Have you noticed any improvement in the smoothness of your indicators over NT's range bars?

I'm not a tradestation guy so I can't help you there.

RJay

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  #10 (permalink)
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I like this modification by a significant degree -- and it also seems to me that moving averages tend to be "cleaner" on these charts -- although I may be imagining that, and it only looks & feels cleaner. However, the look and feel of charts does matter; most "real" traders are finicky & particular about how they want their charts -- I'm no exception to that, by the way; I love a nice clean chart. In any case, I like this a bunch, and I thank you for sharing it.

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