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looking to understand range bars on TOS
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looking to understand range bars on TOS

  #1 (permalink)
Elite Member
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looking to understand range bars on TOS

on the TOS platform the range bar settings are in $,05 $,10 and so forth how does that compare to a 3 range bar or 6 range bar etc..Gary uses a 6 raange bar so I am trying to figure that out and have never usedrange bars before. Thanks

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  #3 (permalink)
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@Hguru,

Just ignore the dollar sign '$', so a 6-range ES chart would be $0.60 ES chart on TOS..

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  #4 (permalink)
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Fortiwinks,

Thanks how about crude and how do i figure the range's out 1,2,3,4,5,6, and so forth is it standard for whatever you are trading.

Hguru

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  #5 (permalink)
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Hguru,

You have to check what is the smallest tick for the instrument, then multiply it by the range that you want. For example, I just checked that smallest tick for CL is 0.01. So a 6 range CL chart would be $0.06 chart on TOS (0.01x6)..

Me prefer 4 range chart for TF and the smallest tick for TF is 0.1, so it'll be $0.40 chart on TOS (0.1x4)..

Hope this helps..

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  #6 (permalink)
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Fortiwinks,

That really helps. Now I understand itand it makes sense.

Thanks a Ton

Hguru

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  #7 (permalink)
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NT range bar vs TOS range bars

So a 4-range bar on NT is the same as a 4-range bar on TOS.

Is this correct?

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  #8 (permalink)
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Not exactly.

On TOS, you have to tell it how much money you want each bar to represent.

So 4 ticks of ES would be $1 range bars on TOS.

Also be aware that the longer the timeframe of the chart the more TOS range bars will differ from true range bars.

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  #9 (permalink)
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fourtiwinks View Post
@Hguru,

Just ignore the dollar sign '$', so a 6-range ES chart would be $0.60 ES chart on TOS..

@Hobinator is right.

Very sorry, I made a mistake in my earlier post. I checked it on TOS before making that post, but I forgot that the minimum tick size for ES is 0.25, not 0.1. Hence, a 6-range ES chart should be $1.50 ES chart on TOS (0.25 tick x 6)..

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  #10 (permalink)
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It is way more difficult on TOS than other software packages that are actually "aware" of tick size.


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