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Range Bars

4/10/2014

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The For-Exe R&D department (sounds a lot more impressive than it really is) has spent the last week testing and trading range bars - a most profitable week it was, mostly from scalping the DAX. 

If you don't already know, range bars differ from normal price bars in that they only create a bar when price has moved X number of pips. Time is not a consideration, just price, giving rather clean looking charts without the 'noise'.  It is purported that various indicators such as moving averages, RSI, Ichimoku, etc are more effective on range bars - something that our research seems to agree with.  We also found that harmonic patterns are easier to spot and the drawing of supply/demand zones just a bit more objective.

We created a little indicator to generate buy/sell signals using the Alligator. The pictures below shows the signals generated over the same period. The potential profitability of the range bar signals is self-evident.

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It should be noted that a couple of nice trending periods were selected for the above pictures - not all periods will be so easy to trade but all-in-all it's fair to say that trading range bars 'with the trend' should do you well.  We will continue our research.
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    Snorm trades only with GKFX and has no hesitation in recommending them, for tight fixed spreads and quick execution (even during NFP, from personal experience).
      
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  • Home
  • eWavesHarmonics
  • INDICATORS
    • MT4 Indicators
    • MT4 Indicators - Discounted
    • MT4 Free Indicators & Scripts
    • eWaves v1.0 Manual
  • Trade Tools
    • Advanced Trade Manager
    • Advanced News Trader
  • Harmonics
    • TheHarmonicIndi
    • TheHarmonicIndi Instructions
    • Harmonic Chart Pictures
    • Harmonic Patterns
  • Forex Blog
  • Trader Training
  • Contact Us
  • Useful Links
  • AIMS
  • MT4 TIPS and TRICKS
  • MetaTrader Wingdings
  • Privacy Policy
  • Terms of Use and Disclaimer
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