My trading methodology enters on bar open, or more precisely 1 tick above/below the current bar close. So, anyone or strategy using entry on bar close method will not be able to use these bar types because there entry will not be at the price shown on the chart. That's also why I cannot use HeikenAshi, and also the reason why eman added an option to show the real open to his momentum bar type.
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Interestingly, I initially designed these bar types specifically for automated trading.
So how can you enter a trade on new bar open? The beauty of these 2 chart types is that the bars minus the tails are the always the same size. because they are the same size, the price/tick value for the opening of a new bar is always known.
The new bar open is always the close of the current bar plus one tick long, minus one tick short depending on market direction.
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Well, I figured something out on the market replay. It seems to work now after I reloaded everything, but if I put in a larger tick size, with either Renko or Channel then it blows up. Tried with just flat charts, nothing else on also.
Seems to have an issue with the larger tick size on market replay?
EDIT: Ok, scratch that! It started working all of the sudden after so many bars I guess on the larger sized tick size setting.
Discussed the situation with bluemele at length. We could not get the problem to reproduce itself. What I do want to share with everyone is that when the chart trials periods expire, any attempt to open a chart with the expired trial chart type will display a blank chart. Charts that are already open when expiration takes place will result in a frozen chart. I will be monitoring this possible issue with the trial licensing programming during market replay. If anyone else is having similar issues, please PM me.
Testing these bars out with my Autotrader on CL during my normal trading hours today from 8:00am to 12:00pm. Looks promising. It slightly outperformed my live trading today... but obviously, I was not concentrating because I was too busy observing the autotrader with the new bar type
Last edited by monpere; August 3rd, 2011 at 12:31 PM.
I find that these bars take a really long time to load, my cpu usage spikes and computer fan kicks into high gear while they are loading, and sometimes locks up NT until the chart loads. That process very seems CPU intensive.
Last edited by monpere; August 4th, 2011 at 08:56 AM.
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