There is no good or bad answer to your question.

As for myself I never change the setting of my range bar but I use standard deviation to set the level of my exit signals.

I do not pretend to have a good solution but the one I like is to use a variable moving average based on standard deviation and I add to this VMA a specific number of standard deviation on it (it is a kind of homemade bollinger bands). The VMA get shorter as volatility rise but at the same time the standard deviation get bigger so I have an exit signal that adapt to the market volatility but not too much. If you use for example a regular MA your exit signal could be far away when you have a spike in volatility. Some people will like that some as me do not like that. Make some test and create your own indicators it is easy and it is worth trying.

You will also see that is you plan to trade with RB a lot of indicators are not really adapted. You will have to create your own.

It also a very personal point of view but I think that trading with your own indicators help you greatly to build your confidence.

eone 

Thank you Babool, Much thank you. May I ask how you measure volatility?

Well, I don't exactly measure it but I look at my chart and ask myself two questions.

1) Is the chart moving to fast to trade..meaning that by the time I am able to react to my method entry that price has moved so far away or to close to my first partial target that i can'/wont take the trade.

2) Is the chart whipsawing moving up and down and looking like a jumbled mess ? Slowing the chart down by going to a larger range bar or increasing a time based bar (e.g. going from a 3 minute bar to 9 minute) will add clarity.

Depending on the method you trade volatility may or may not be a factor in your decision making. For example if your a market profile trader and your putting a buy order in at a 50% retracement of B period in order to attempt to participate in a possible range extension to the upside volatility may not be a big factor for you as your order is a resting order and your stop would be under the current day low. If your a daytrader trader that attempts to trade pullbacks in the direction of the trend using range bars, volatility will be an big factor in your decision making because of the size of the range bar will have a great effect on the number of trades you take, your target, your stop loss, etc.

Hope this helps.

eone 

What is the ideal number of ticks on a Range chart for day trading?

It's all personal preference. So how do we figure that out? It really depends on what you want to see.

Smaller Number of Ticks = More Detail

Larger Number of Ticks = Less Detail

So for slower markets like the ES you'd probably want to play around with 1-8 tick range bars. For faster moving markets like CL check out 1-14ish

Personally, I like to use a 1 tick and 3 or 5 tick for the ES. I use the 1 tick to monitor the micro swings and the "health" of a trade's location. The 3-5 is my main chart which I use to draw Volume Profiles on. I only scalp for 1.5 or 2 points.