Hello,
I have been using range bars in 6.5 and understand why a subsequent bar is 1 tick beyond the previous bar's close as the "new" bar's range does not start until the "previous" bars range is exceeded - hence the 1 tick.
I have a fellow trader who uses Sierra Charts. They offer 2 types of range bars. One is like Ninja's. The other form creates a new bar once the "range" equals the defined range....thus generating more bars...
I think the common logic works like this... make a new range bar when the current range is "Greater Than" the defined range
With this "Greater Than" logic approach you tend to see a lot of price action bouncing off the bar limits, with no visible record of this price action within the bar.
Sierra's other logic triggers a new bar when the current range "Equals" the defined range, then the next tick (after the defined range has been met) starts the next bar, and thus the inter bar price action not viable with the prior approach's logic is now visibly recorded within the bars of the chart....
Any thoughts of incorporating this into Ninja?
TIA
I have been using range bars in 6.5 and understand why a subsequent bar is 1 tick beyond the previous bar's close as the "new" bar's range does not start until the "previous" bars range is exceeded - hence the 1 tick.
I have a fellow trader who uses Sierra Charts. They offer 2 types of range bars. One is like Ninja's. The other form creates a new bar once the "range" equals the defined range....thus generating more bars...
I think the common logic works like this... make a new range bar when the current range is "Greater Than" the defined range
With this "Greater Than" logic approach you tend to see a lot of price action bouncing off the bar limits, with no visible record of this price action within the bar.
Sierra's other logic triggers a new bar when the current range "Equals" the defined range, then the next tick (after the defined range has been met) starts the next bar, and thus the inter bar price action not viable with the prior approach's logic is now visibly recorded within the bars of the chart....
Any thoughts of incorporating this into Ninja?
TIA
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