I am setting up my NT8 platform to use with Range Bars and noticed the bars do not display correctly:
- the open of a bar does not open at the same price as the previous closed candle;
- some bars open somewhere inside the body of the previous candle;
- some bars have a gap up or down from the previous close candle.
At first I thought something must be wrong with my parameters. After having checked everything, I could, I searched the NT sites and forums. And also the article from the support. ninjatrader show the same strange looking bars (image below):
And also, for your perusal, I stumbled upon the same issue raised on the forum in the year 2014. Apparently, the issue is still the same ?
Actually, the rules for constructing range bars are quite simple:
Three rules of range bars:
- Each range bar must have a high/low range that equals the specified range.
- Each range bar must open outside the high/low range of the previous bar.
- Each range bar must close at either its high or its low.
Range Bars look like standard bars, but are different in several ways:
- Range Bars are all equal in height, based on the Range specified by the user.
- Range Bar closes are always at the top or bottom of the bar.
- Range Bars charts have no gaps.
- The open of each Range Bar is always equal to the close of the previous Range Bar.
Please let me know if there is anything to be changed in the setup of my platform or if this is the method use by NT for constructingg range bars (in this case they should not be called "Range Bars", but some other definition).
Thank you for your assistance.
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