Range Bar Option for Charting

[DavidJNowak]

Are range bars available (chart bars that contain predefined price bar sizes) like offered in other charting programs? I have found these to be useful to divorce time from price trends. After all, what is trading all about other than to capture price swings?

[NinjaTrader_Dierk]

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Range are not supported right now. They are on our list of future developments.

[jtrade]

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Dierk Droth wrote:

Range are not supported right now. They are on our list of future developments.

Dierk - do you havea timeframe for range bars yet, please ?

J.

[NinjaTrader_Ray]

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There is still no time forrelease although this feature will besupported.

Ray

[momentom]

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Great news. Many of us are really waiting for this to subscribe.

[qitrader]

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I am interested in Range bars as well

[coolthecat]

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ready to subscribe as soon as range bar is on

[stargazer]

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Range bars are great. Are u planning on implementing the Nicolellis or the Danton Long version?

[NinjaTrader_Ray]

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Did not realize there were multiple versions. Can you provide the definition for both and I will tell you what approach we are taking?

Ray

[stargazer]

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Ray, Nicolellis: New bar is drawn as soon as the price range specified is achieved.(see QuoteTracker) Danton Long: New bar is drawn after price range is achieved but only after the next tick occurrs outside the range. (see Ensign) I've been using the QuoteTracker rendition and it works well. In my view it makes more sense as the essence of the range bar is the range - as it naturally occurs. I'm sure others prefer the "Long" version,so maybe offer both?

[NinjaTrader_Dierk]

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Thanks for providing this info. We'll look into it.

[NinjaTrader_Ray]

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I can see how each approach would really draw different looking charts. You could get a lot more bars with the QT approach. Our approach has been the Danton approach. This is what I guessI have seen as a more frequently used approach.


Ray

[stargazer]

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Yes, charts will look different. Probably see more of the "Long" version as he and Ensign developer popularized it in several publications.Nicolellis, was/is a Brazillian trader and very little was written about his version except by the late Robert Krausz (Fibonnacci Trader) I think Nicolellis was an FT user and Robert may have implemented his version. Interestingly, Danton Long was Robert's step son so he may have got the original idea from Nicolellis. Might give you a marketing advantage to offer both flavours.

[momentom]

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ninjatrader wrote:

I can see how each approach would really draw different looking charts. You could get a lot more bars with the QT approach. Our approach has been the Danton approach. This is what I guessI have seen as a more frequently used approach.


Ray

I have been using Range Bars for quite a long time and have been trading electronically since the very beginning. I believe that starting a new bar ONLY when the range has been exceeded is "correct" because the whole purpose of Range Bars is to get rid of noise in the chart. Starting a new bar within the range of the previous bar is logically "incorrect". Inspite of what has been stated above, Nicolellis, from what I have read in some Brazilian material, constructed range bars by starting a new bar once the ange of the previous bar was exceeded. The late Robert Krausz may have implimented them deifferently for his owns reasosn.

Range Bars are a very powerfull implemntation describing price activity. Getting rid of much of the noise tends to provide better "signals" and setups no matter what yor style of trading.

[gretrader]

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Not sure this is the right place , but I would like to add my vote to request that NT make range bar charts available asap, please.
Thank you