Range bars ... renko ... minute charts - which is best??? - Traders Hideout | futures io social day trading
futures io futures trading


Range bars ... renko ... minute charts - which is best???
Updated: Views / Replies:10,393 / 14
Created: by Zipper Ripper Attachments:1

Welcome to futures io.

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

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

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

Reply
 1  
 
Thread Tools Search this Thread
 

Range bars ... renko ... minute charts - which is best???

  #1 (permalink)
Elite Member
Bowie, MD, USA
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: futures
 
Zipper Ripper's Avatar
 
Posts: 25 since Sep 2010
Thanks: 58 given, 8 received

Range bars ... renko ... minute charts - which is best???

I just love this site!!! I joined this weekend and have already spent many hours in it. IT'S SO ADDICTIVE!!!

I've traded before and consider myself intermediate. But spending time here has already helped me a lot! In fact, I already feel like I should make another financial donation!!! As soon as I make some money : -)

Anyhow, for the last year I've been trading range bars (2, 4, 8 mostly.) I was told, and still feel that they provide the best chart information visually on price action. PRICE RULES!!!

However, from what I can see most people trade minute charts. I've really been wonder why that is so? Has anyone done an in-depth analysis between range, rinko, minute, etc. charts, pros and cons?

Also, I was wondering if anyone can provide me with more indicators and strategies that work well with range bars?

Is there a section here for range traders?

I'm hoping to pay foreward all the help I've already recieved. You people are great! Thanks Mike for such a teriffic site!!!

David

Reply With Quote
The following 3 users say Thank You to Zipper Ripper for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,218 since Jun 2009
Thanks: 628 given, 6,316 received
Forum Reputation: Legendary



dewurster View Post
....

However, from what I can see most people trade minute charts. I've really been wonder why that is so? Has anyone done an in-depth analysis between range, rinko, minute, etc. charts, pros and cons?

Also, I was wondering if anyone can provide me with more indicators and strategies that work well with range bars?

Is there a section here for range traders?

I'm hoping to pay foreward all the help I've already recieved. You people are great! Thanks Mike for such a teriffic site!!!

David

it's like is it a white zebra with black tripes or other way around, just stick with what works for you. For range bar https://futures.io/journals-daily-charts-chart-reading/3514-perrys-trading-platform.html

Reply With Quote
The following user says Thank You to cory for this post:
 
  #4 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,697 since Oct 2009
Thanks: 3,041 given, 4,496 received


dewurster View Post
I just love this site!!! I joined this weekend and have already spent many hours in it. IT'S SO ADDICTIVE!!!

I've traded before and consider myself intermediate. But spending time here has already helped me a lot! In fact, I already feel like I should make another financial donation!!! As soon as I make some money : -)

Anyhow, for the last year I've been trading range bars (2, 4, 8 mostly.) I was told, and still feel that they provide the best chart information visually on price action. PRICE RULES!!!

However, from what I can see most people trade minute charts. I've really been wonder why that is so? Has anyone done an in-depth analysis between range, rinko, minute, etc. charts, pros and cons?

Also, I was wondering if anyone can provide me with more indicators and strategies that work well with range bars?

Is there a section here for range traders?

I'm hoping to pay foreward all the help I've already recieved. You people are great! Thanks Mike for such a teriffic site!!!

David


My opinion is that minute bars and tick bars give more accurate information regarding the immediate mood of the markets while range bars are good to identify channels and/or trendlines. One of the reason why minute bars are usefull is that many people use them and know what they mean. For example, a doji means something to many traders and they will act accordingly if it occurs at a key level. You will never get a doji with a range bar. Range bars do not provide any meaninfull pattern you can rely on but they are good to spot swing high/lows.

Reply With Quote
The following 3 users say Thank You to trendisyourfriend for this post:
 
  #5 (permalink)
Market Wizard
New Orleans, La (Mardi Gras City)
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Ninjatrader / Optimus Futures / AmpFutures
Favorite Futures: ES / 6E / 6B / CL
 
DavidHP's Avatar
 
Posts: 1,002 since Aug 2009
Thanks: 803 given, 1,367 received


dewurster View Post
However, from what I can see most people trade minute charts. I've really been wonder why that is so? Has anyone done an in-depth analysis between range, rinko, minute, etc. charts, pros and cons?

David


If it is not ok to post this, then the moderator can delete it.

Here is an article posted by Richard about chart types.
He has some interesting comments. FWIW

Back to Basics|Move the Markets

Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
Reply With Quote
The following 3 users say Thank You to DavidHP for this post:
 
  #6 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,697 since Oct 2009
Thanks: 3,041 given, 4,496 received


dewurster View Post
...
However, from what I can see most people trade minute charts. I've really been wonder why that is so? Has anyone done an in-depth analysis between range, rinko, minute, etc. charts, pros and cons?


You might want to adopt a new paradigm and use the Market Profile representation and get rid of all these bars.

Reply With Quote
The following user says Thank You to trendisyourfriend for this post:
 
  #7 (permalink)
Just starting out...
Louisiana mostly
 
Futures Experience: Advanced
Platform: MultiCharts, Excel
Broker/Data: IB, AMTD
Favorite Futures: TF, IWM, Options, ES
 
Posts: 10 since Aug 2010
Thanks: 3 given, 17 received

You might try putting up different types of charts for the same instrument and observe them for yourself for a while (i.e. minute, tick, range charts of ES side-by-side). You'll rapidly begin to see the different "looks" each chart type develops during various periods of market activity, and how each type can give you slightly different information on the action.

Which chart type(s) you'll ultimately prefer is very subjective. Some folks do well with range charts and struggle trading off tick charts, and vice-versa. After years of watching multiple chart types, I settled on volume and tick charts for most of my trading, but they're certainly not superior than other types, just different.

As was stated in a reply above, most of us cut our teeth on minute charts, and it takes a while to break the habit of seeing every formation on every chart as if it were on a minute chart. If you're used to seeing a minute bar virtually sit still while the volume bar below it fills up, it takes a while to get used to seeing a volume chart run sideways, giving you the same information but in a different way visually, and particularly how this sideways stretch or compression affects the signals generated by many indicators.

In short, watch a group of 'em simultaneously on the same symbol, play around... over time you'll develop an affinity for some, and have no use at all for others.


Last edited by DummyWill; September 6th, 2010 at 07:45 AM. Reason: .
Reply With Quote
The following 2 users say Thank You to DummyWill for this post:
 
  #8 (permalink)
Elite Member
Italy - Roma
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: IB
Favorite Futures: Index futures
 
jagui's Avatar
 
Posts: 195 since Jul 2010
Thanks: 248 given, 278 received

I use a combination of volume bars and minute bars.
Sometimes the price action is clearer on volume bars, other times it is clearer on minute bars.

Reply With Quote
The following user says Thank You to jagui for this post:
 
  #9 (permalink)
Elite Member
Osaka
 
Futures Experience: Master
Platform: Ninja
Broker/Data: IB
Favorite Futures: Stocks
 
MrBean's Avatar
 
Posts: 109 since Jan 2010
Thanks: 26 given, 24 received

I'm new to range bars but I feel that they provide more pure price action that includes volume intrinsically. Let's say there is a big volume spike but that buyers end up countering the sellers and the net result is that price doesn't move much. The range bar will tell you all you need to know in that all that volume that went through amounted to nothing in terms of price. Pure and simple. Same with tick charts, who cares how many ticks created the bar if it results in no significant move in price. We trade price and nothing else, right? Having said that I shall now contradict myself: I like to use Buy/Sell volume in conjunction with range bars so that if the hitters way outnumber the sitters then it tends to indicate the underlying directional strength behind the price move .

Reply With Quote
The following user says Thank You to MrBean for this post:
 
  #10 (permalink)
Elite Member
Ocala, FL
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: Crude, Euro, ES
 
nillz123's Avatar
 
Posts: 44 since Aug 2010
Thanks: 25 given, 30 received

Its up to you


I personally LOVE Range bars. I like that it is organized and filters out the noise of the market is you lose longer ranges (like 10 Range and above). All the bars are the same height so the charts are clean. I use to use minute bars, but after I made the switch, minute bar just don't look right to me anymore. During news events time bars can be so wrong, it can have a strong move up, you go in, and it reverses! Range bars show the mood of the market better for me and also displays price action speed: if it is a fast moving market, or if it take 1 hour to creat one bar, that means the market is extremly slow. They are just best IMHO to show market sentiment.

Second to that I would have to say tick bars, then volume bars. They are both somewhat even to me and second to the range bars.

Reply With Quote
The following 4 users say Thank You to nillz123 for this post:

Reply



futures io > > > Range bars ... renko ... minute charts - which is best???

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
renko bars vs range bars? shodson Traders Hideout 21 April 26th, 2012 04:52 PM
What is the difference in the regular Renko charts and the Median Renko charts PamH NinjaTrader 17 February 21st, 2012 08:16 PM
30 Minute Bars, easy Language, Multicharts jimfini EasyLanguage Programming 5 August 9th, 2011 05:42 AM
Range chart separate minute elsevillano NinjaTrader Programming 10 March 22nd, 2011 03:01 PM


All times are GMT -4. The time now is 03:13 PM.

Copyright © 2017 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
Page generated 2017-12-14 in 0.15 seconds with 38 queries on phoenix via your IP 54.145.16.43