IB Range Bands - futures io
futures io futures trading



IB Range Bands


Discussion in NinjaTrader

Updated by nightshade
      Top Posters
    1. looks_one Fat Tails with 18 posts (32 thanks)
    2. looks_two trendisyourfriend with 5 posts (5 thanks)
    3. looks_3 Rad4633 with 3 posts (2 thanks)
    4. looks_4 TempletonPeck with 3 posts (0 thanks)
      Best Posters
    1. looks_one Silvester17 with 4.0 thanks per post
    2. looks_two Fat Tails with 1.8 thanks per post
    3. looks_3 trendisyourfriend with 1.0 thanks per post
    4. looks_4 Rad4633 with 0.7 thanks per post
    1. trending_up 13,620 views
    2. thumb_up 52 thanks given
    3. group 15 followers
    1. forum 48 replies
    2. attach_file 19 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Thread Tools Search this Thread
 

IB Range Bands

  #41 (permalink)
Germany
 
Experience: Beginner
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
 
TempletonPeck's Avatar
 
Posts: 200 since Feb 2010
Thanks: 1,132 given, 201 received


Fat Tails View Post
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?




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

I see your point! In this case your weekly Noise Bands make more sense.

I would see these weekly Initial Balance levels just as additional reference points in the overall context. Nothing to really base trades on.


Reply With Quote

Can you help answer these questions
from other members on futures io?
Convert NinjaTrader NT7 indicator to Tradestation EasyLanguage and RADARSCREEN
Platforms and Indicators
Issue meeting order entry conditions
Elite Automated NinjaTrader Trading
Last 5 minutes Label
ThinkOrSwim
Moving average with Lag reduction
NinjaTrader
Linux?
ThinkOrSwim
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Spoo-nalysis ES e-mini futures S&P 500
470 thanks
VWAP for stock index futures trading?
48 thanks
Want your NinjaTrader indicator created, free?
46 thanks
Is Amp at risk of going under?
24 thanks
Risk of trading micro futures
19 thanks
 
  #42 (permalink)
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,824 since Mar 2010
Thanks: 4,237 given, 26,521 received


TempletonPeck View Post
I see your point! In this case your weekly Noise Bands make more sense.

I would see these weekly Initial Balance levels just as additional reference points in the overall context. Nothing to really base trades on.


Of course, if there is a range, you can use any prior high or low as a breakout point.



Reply With Quote
The following user says Thank You to Fat Tails for this post:
 
  #43 (permalink)
Austria
 
Experience: None
Platform: Ninja Trader
 
Posts: 31 since Oct 2009
Thanks: 11 given, 3 received

different IB price


Hi

Why is the IB bands price different on Range Bar Chart as on min Chart? Is that an programming error?

regards

Attached Thumbnails
Click image for larger version

Name:	different IB price.png
Views:	29
Size:	70.5 KB
ID:	139381  
Reply With Quote
 
  #44 (permalink)
Seattle Wa usa
 
Experience: Intermediate
Platform: tos
Trading: tf
 
Posts: 19 since Sep 2013
Thanks: 5 given, 9 received

How do you start a new thread? I would like information from future traders
that has used tos and swithced to something else ninja for instance. Thanks

Reply With Quote
 
  #45 (permalink)
Legendary Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,534 since Aug 2009
Thanks: 4,984 given, 11,207 received


dragutin View Post
Hi

Why is the IB bands price different on Range Bar Chart as on min Chart? Is that an programming error?

regards

no, it's not a programming error.

in order to have correctly measured ib bands for tick, volume and range charts, you should use the multi-timeframe (MTF) version. once again compliment to @Fat Tails for a great indicator

it can be found here:




Reply With Quote
The following 3 users say Thank You to Silvester17 for this post:
 
  #46 (permalink)
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,824 since Mar 2010
Thanks: 4,237 given, 26,521 received


dragutin View Post
Hi

Why is the IB bands price different on Range Bar Chart as on min Chart? Is that an programming error?

regards

As @Silvester17 already explained, only a multi-timeframe indicator will be able to calculate a correct initial balance on tick, range, volume or Renko charts.

The problem here is that in order to calculate the correct range you need to use bars that align with both the start time and the end time of the period selected for the initial balance. For example if you base your initial balance for ES on the first 60 minutes, you need to use bars that align to the opening time at 8:30 AM CT and to the end time of the initial balance at 9:30 AM CT. Tick or range bars will not exactly align, so you will have an overlapping bar at the beginning and another overlapping bar at the end of the initial balance period. Those overlapping bars may contain price data outside the exact range for the initial balance.

In short, you can only calculate an initial balance range from minute bars.

Therefore, if you use other than minute bars on your chart, the multi-timeframe version of the IBRangeBands needs to be used. It loads minute data to perform all calculations.

The only reason that I have coded a multi-timeframe version of the IB Range bands is that the standard version does not work with bars built from ticks.

Reply With Quote
The following 3 users say Thank You to Fat Tails for this post:
 
  #47 (permalink)
Las Vegas, NV
 
Experience: Advanced
Platform: Abacus, Slide Rule, HP-65, Metastock, TOS, NT
Trading: Futures
 
aligator's Avatar
 
Posts: 3,423 since Aug 2010
Thanks: 1,057 given, 5,836 received


Fat Tails View Post

The only reason that I have coded a multi-timeframe version of the IB Range bands is that the standard version does not work with bars built from ticks.

@Fat Tails,

Two questions please:

1. In that case, do we still need the standard version? Can't we just use the MTF for all needs.

2. Also, Can we assume the same will apply to anaOpeningRange indicator, if so, do we need a MTF OR indicator?

Thanks.

Visit my futures io Trade Journal Reply With Quote
 
  #48 (permalink)
Legendary Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,534 since Aug 2009
Thanks: 4,984 given, 11,207 received


aligator View Post
@Fat Tails,

Two questions please:

1. In that case, do we still need the standard version? Can't we just use the MTF for all needs.

2. Also, Can we assume the same will apply to anaOpeningRange indicator, if so, do we need a MTF OR indicator?

Thanks.

sorry for the interruption, but the answers are pretty obvious

1. if you're using the indicator on a "normal" (5, 10, 15, 30) min. chart, then it would make sense to use the standard version. you don't need a second minute bar series. but of course for tick based charts and "strange" (7, 9, etc) min. charts, then you want the mtf version.

2. the same would apply to the opening range indicator. the mtf version can be found here:


Reply With Quote
The following 5 users say Thank You to Silvester17 for this post:
 
  #49 (permalink)
canton mi
 
Experience: Beginner
Platform: ninja xtrader
Trading: tf, es
 
Posts: 228 since Jan 2014
Thanks: 325 given, 145 received


Richh View Post
How do you start a new thread? I would like information from future traders
that has used tos and swithced to something else ninja for instance. Thanks

i used tos and switched to ninja its not that hard i personally like ninja better

Reply With Quote
The following user says Thank You to nightshade for this post:



futures io Trading Community Platforms and Indicators NinjaTrader > IB Range Bands




Upcoming Webinars and Events
 

Bookmap

May 28
     



Copyright © 2020 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts