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All you need
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Created: by Jeff Castille Attachments:534

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All you need

  #1521 (permalink)
 Vendor: www.innovative-trading-solutions-online.com 
Hartford, CT. USA
 
Futures Experience: Intermediate
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cunparis View Post
Yes it's monthly. It's one of the most used commodities.

What do you think of 5min vs. range chart? I still prefer 5m charts.


cunparis,

Which month are you trading???

RJay

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  #1522 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
 
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RJay View Post
cunparis,

Which month are you trading???

RJay

I'm trading December (340k) whereas January has 70k.

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  #1523 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Amp Futures/ Zen-Fire
Favorite Futures: YM and CL
 
Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
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Minute vs range bar


I took a serious look at the 5 minute charts and..........I went back to my range bars.

Remember, I keep a 5 minute chart up with my pivots on it.

However, I believe that containing the price within the time element (minute chart) is not helpful for me. I only want to see what the price is doing in relation to nothing. Not time, not transactions (ticks). There's nothing like a gigantic minute bar to mess up your chart. Even a moving average looks better on a range bar chart.

After my recent experiment with 5 minute charts it was quite a relief to go back to my range bars. To each his own. I can read price action much better with range bars. Maybe it's just because I've been looking at them for so long. They just make sense to me.

Here's a nice little pop in 6E.(on the chart)+10

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All you need-6e-12-09-11_3_2009-10-range-.jpg  
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  #1524 (permalink)
Trade with the flow
Paris, France
 
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Jeff Castille View Post
Here's a nice little pop in 6E.(on the chart)+10

Interesting cause you went against the LR(21).

You make good points for range bars. There are also disadvantages like not seeing consolidation, candlestick patterns, etc.

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  #1525 (permalink)
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cunparis View Post
Interesting cause you went against the LR(21).

You make good points for range bars. There are also disadvantages like not seeing consolidation, candlestick patterns, etc.

This candlestick pattern disadvantage is true..... but the 6e trade I just posted is a terrific example a box play off consolidation.

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  #1526 (permalink)
Elite Member
Seattle
 
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Jeff Castille View Post
I took a serious look at the 5 minute charts and..........I went back to my range bars.

Remember, I keep a 5 minute chart up with my pivots on it.

However, I believe that containing the price within the time element (minute chart) is not helpful for me. I only want to see what the price is doing in relation to nothing. Not time, not transactions (ticks). There's nothing like a gigantic minute bar to mess up your chart. Even a moving average looks better on a range bar chart.

After my recent experiment with 5 minute charts it was quite a relief to go back to my range bars. To each his own. I can read price action much better with range bars. Maybe it's just because I've been looking at them for so long. They just make sense to me.

Here's a nice little pop in 6E.(on the chart)+10

To each his own is an incredibly valid statement. I share info with Gary through out the day, he trades a 6Range and I trade a 5 min. Frequently we come up with the same entry points. He is just able to interpret 6 range action while I prefer 5 min bars. I do think that if you are using an approach that utilizes indicators as a focal point then a range chart works much better as it smooths the output of those indicators. For me I only trade off price action so the 5 min candle stick patterns tell me everything I need to know (with the addition of the 20 ema).

Blz

P.S. Nice trade on 6E Jeff!

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  #1527 (permalink)
Trade with the flow
Paris, France
 
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Jeff Castille View Post
This candlestick pattern disadvantage is true..... but the 6e trade I just posted is a terrific example a box play off consolidation.

I guess it's important that your range size is small enough so that the consolidation makes several bars. If you use a 20 range, that box play wouldn't be possible. It'd just show up as 1 bar.

I've noticed that some indicators work better on range charts. I keep trying them every once in a while.

Today was a slow day for me. CL just trended up all day so I only took one trade (long around 9:20). But while I was playing around with some other ideas I missed a trade on CL & Euro. hehe..

I got 2 pts on ES though so all is not lost.

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  #1528 (permalink)
Elite Member
Keithville LA
 
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cunparis View Post
Be careful, the LR indicator, like all the X_Colors indicators, repaints. It does this for continuity of the line. I comment out the Set(1) lines so that it doesn't repaint.


Hey Cunparis

Can you post the LR Indicator that doesn't repaint
for us nonprogrammers?

Thanks

Skid

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  #1529 (permalink)
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MIAMI,FL
 
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skid im working on v2 of the sharkfin if you will give me a few days ill be done then you can goto tweaking it...sharky

KILLING THE MARKETS DAILY
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  #1530 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
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sharky View Post
skid im working on v2 of the sharkfin if you will give me a few days ill be done then you can goto tweaking it...sharky

I think he was referring to the other one, the one based on EMA colors.

I'm at work now so I can't post it until later tonight. I probably won't trade today due to crude inventories & the FOMC announcement & ADP Non-Farm Employment Change. There's a bunch of news today..

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