Rangebars For Mt4 (v1.3): Warning: It Is Machine-translated Text From Russian To English
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Range Bars for MT4 v1.3 © 2010 KARDAMON (FC)
page 1/6
RangeBars for MT4 (v1.3) Warning: It is machine-translated text from Russian to English Warning: Using this tool requires that the user has basic knowledge of the trading platform MetaTrader4 and the markets in general. Ranged-bars (RangeBars) are not built on time and on the course price. Suppose we set a parameter Ranged 20 - this means that each new candle will be formed (closed) during the passage of the prices up or down by 20 points. Hence some conclusions about the graph: 1. The timeline will be irregular; 2. Candles will ALWAYS be the same size Range = (High - Low); 3. Never will the candles with two shadows simultaneously, ie Close will always equal or High or Low. 4. It is possible to predict the approximate level of closure of the candles.
Required explanation of Range Bars nature. Ranged-bars (in some sources - tick bars, tick candles) - a fairly new tool to analyze markets. For this reason, they are present only in some commercial terminals, for example, NinjaTrader. As for the sources of quotations, there are non-existent. For this reason Ranged-bars have to simulate on the side of the terminal. The most accurate simulation is based on only a tick quotes. However, few can deliver quite a long archive of quotations, and a simulation based only realtime requires a long unproductive work of the terminal only for "operating time" of history. In this regard, the necessary history Ranged-bars have to simulate a conventional timebars, archive which can be downloaded from the source of quotations without unnecessary time-consuming. For better modeling is necessary to take history as the least possible time interval. For the trading terminal MT4 is reasonable to use minute interval.
© 2010 KARDAMON (FC) http://www.kardamonfc.com
Range Bars for MT4 v1.3 © 2010 KARDAMON (FC)
page 2/6
Note: The some sources Ranged-bars are sometimes called tick candles (tick bars, tick candles). The fact that the futures market and runoff tics are also called minimal change in price in the Forex market is a "pip" »(pip). Keep this in mind when you encounter a sentence like "recommended stop-loss set at a distance of 1-2 tick.
Properties This Range-Bars converter constructed on the basis of historical data on the standard timeframe (preferably choose minute as the most "small"), and then, in the process - on real-time tick data. To correctl display the past data need a story quotes a sufficient depth. The program of Ranged-bars in terms of terminal MetaTrader is a common indicator, but its use is fundamentally different from conventional indicators. The graph, which is imposed "indicator" is not displayed any conventional lines. We work with another window, another chart.
Installation 1. Find a directory (folder) where you have installed MetaTrader. Surely it would be something like C:\Program Files\MetaTrader4 2. Put the file Range-Bars.ex4 in indicator folder of MetaTrader experts\indicators
Tuning 1. Open 1-min chart. Templates, appearance of this chart are not important. 2. Put on “indicator” Range-Bars (from “user’s section”). 3. Set parameters in Properties: • Check the option in the General tab - allow the import DLL Tab Input parameters: • Range - the range size. Pay attention to the presicion ot quotes. Keep in mind, if the range size equal as the standard timeframe (M5, M15, M30) - a historical data of this timeframe will be erased. It is desirable to avoid conflict and do not have a terminal open window of this timeframes. • MinimunBars - sets the minimum number of bars in history you want to display. If you haven’t more bars then converter will limit that. • EnableGaps - enables (true) or not (false) to show gaps in quotes, which usually occured after the weekend. Its like as Alter Ranges. • EnableSound = true will play a specified audio file when bar closed. • SoundFile - specifies the name of the sound file. The file must be located in a subfolder of the terminal sound. 4. In the upper left corner will be given a few lines about loading indicator. 5. Go to the top menu File -> Open Offline. Next, choose your currency with an imaginary "timeframe" equal to the size of Range. For example, if the currency GBPUSD, Range = 23, then look to GBPUSD, M23. The result will be a new chart with the title (offline) at the top. Further work is being done with this window/chart. Has © 2010 KARDAMON (FC) http://www.kardamonfc.com
Range Bars for MT4 v1.3 © 2010 KARDAMON (FC)
page 3/6
already been possible to impose patterns, indicators, etc. In the future this chart called Range-chart. 6. IMPORTANT! One-minute chart (see paragraph 1) should not be closed! This window can be hidden, push back, etc. 7. IMPORTANT! A further analysis, the imposition of standard templates, indicators, etc. - is on the new chart (see 5) GBPUSD, M23, where you have Range-chart. How it looks - see Annex № 1 at the end of the document.
Additionally To monitor the formation of bars can apply additional indicator Range-Display - it shows the number of points remaining before the final close of the bars, as well as the possible values of High and Low of the current candle. To operate the system Woodie's CCI at Range-chart proposed additional indicator with numeric panel with special tools predict RangeBars. (See http://www.kardamonfc.com or http://kardamonfc.blogspot.com ). Similarly - it is put on range-chart. Delivery - for a separate price.
Working with several financial instruments If you want to analyze a number of financial instruments - that the above installation procedure needs to be done with each. That is, for each tool you want to open your minute chart, impose a converter Range-Bars, customize your settings, open your Range-chart, and impose on Range-chart your favorite patterns and indicators. An example of the desktop with the work given in Annex № 2 at the end of the document. Recommendation: Set up different sounds for different instruments for easy navigation.
Work on one financial instrument with a different Range-size. In the case when you need to build several Range-charts on one instrument, to be imposed on the original one-minute chart converter Range-Bars. In addition, each instance is configured on necessary Range-size, and opens a few of the resulting Range-charts. For example, you need Range-charts GBPUSD23R and GBPUSD16R Apply RangeBars twice on "generating" one-minute chart GBPUSD1M, then configure each to the desired Range-size, and open offline charts GBPUSD23M and GBPUSD16M.
Troubleshooting Current price line of Range-chart can be delayed slightly from the one-minute chart or at all different for a couple of points. That's OK, if you look at the data of other indicators, placed on the Range-chart (for example, the Woodie’s CCI Panel) - current values of Bid will be like one-minute chart.
© 2010 KARDAMON (FC) http://www.kardamonfc.com
Range Bars for MT4 v1.3 © 2010 KARDAMON (FC)
page 4/6
If you have imposed on one-minute schedule of two or more copies of the converter - it is possible that the resulting schedule will stand. What happens if copies of the converter are the same range size parameter, for example, after reinitialization, or a new overlay. It is necessary to put the different sizes of Range.
Limitations When you exit MT4, and switch on after a long break, or after long disconnect the possible inefficiency of the range-chart, or the loss of a few bars of history. Then you need to reconfigure the Range-Bars “indicator” on one-minute chart. Use Property tab of the indicator to make any changes - safer just to change the number of bars (100-120150-200). At present, this deficiency seems to be defeated, but the inclusion may be somewhat unpleasant sound effect - several consecutive "ringtones". When the fatal error message is issued in the window alerts, but the indicator continues to be imposed on the schedule. There is no possibility of testing experts / advisors in history - a non-standard timeframe is not selected in the tester. Testing is only possible if the amount of Ranged coincides with the standard timeframe - 5, 15, 30.
Version History 15.02.10 - v.1.1. Introduced additional parameters - the time frame beginning schedule. 25.02.10 - v.1.11 Corrections. Timetable regarding the gap with the rapid change of course (prices). 05.03.2010 - v.1.2 Another attempt to fix the problem the wrong form of candles with prolonged rupture of communication or simple. The parameter "time of the report of the beginning" is replaced by the minimum number of bars in history. 13.04.2010 - v1.3 I hope that the problem of forming candles when disconnected or easily solved definitively. Parameter name changed to Sound EnableSound Added an option EnableGaps - to create an alternative form of charts, where "Sunday" gaps remain discontinuities.
© 2010 KARDAMON (FC) http://www.kardamonfc.com
Range Bars for MT4 v1.3 © 2010 KARDAMON (FC)
Appendix 1 Appearance
1. Source one-minute chart. 2. Range-chart in pure form. 3. Range-chart with placed templates and additional indicators.
© 2010 KARDAMON (FC) http://www.kardamonfc.com
page 5/6
Range Bars for MT4 v1.3 © 2010 KARDAMON (FC)
page 6/6
Appendix № 2 Terminal view with multiple financial instruments - Range-23 and Range-15 on GBPUSD, Ranged-18 on USDCAD, and ordinary H4 on GBPUSD.
© 2010 KARDAMON (FC) http://www.kardamonfc.com
page 1/6
RangeBars for MT4 (v1.3) Warning: It is machine-translated text from Russian to English Warning: Using this tool requires that the user has basic knowledge of the trading platform MetaTrader4 and the markets in general. Ranged-bars (RangeBars) are not built on time and on the course price. Suppose we set a parameter Ranged 20 - this means that each new candle will be formed (closed) during the passage of the prices up or down by 20 points. Hence some conclusions about the graph: 1. The timeline will be irregular; 2. Candles will ALWAYS be the same size Range = (High - Low); 3. Never will the candles with two shadows simultaneously, ie Close will always equal or High or Low. 4. It is possible to predict the approximate level of closure of the candles.
Required explanation of Range Bars nature. Ranged-bars (in some sources - tick bars, tick candles) - a fairly new tool to analyze markets. For this reason, they are present only in some commercial terminals, for example, NinjaTrader. As for the sources of quotations, there are non-existent. For this reason Ranged-bars have to simulate on the side of the terminal. The most accurate simulation is based on only a tick quotes. However, few can deliver quite a long archive of quotations, and a simulation based only realtime requires a long unproductive work of the terminal only for "operating time" of history. In this regard, the necessary history Ranged-bars have to simulate a conventional timebars, archive which can be downloaded from the source of quotations without unnecessary time-consuming. For better modeling is necessary to take history as the least possible time interval. For the trading terminal MT4 is reasonable to use minute interval.
© 2010 KARDAMON (FC) http://www.kardamonfc.com
Range Bars for MT4 v1.3 © 2010 KARDAMON (FC)
page 2/6
Note: The some sources Ranged-bars are sometimes called tick candles (tick bars, tick candles). The fact that the futures market and runoff tics are also called minimal change in price in the Forex market is a "pip" »(pip). Keep this in mind when you encounter a sentence like "recommended stop-loss set at a distance of 1-2 tick.
Properties This Range-Bars converter constructed on the basis of historical data on the standard timeframe (preferably choose minute as the most "small"), and then, in the process - on real-time tick data. To correctl display the past data need a story quotes a sufficient depth. The program of Ranged-bars in terms of terminal MetaTrader is a common indicator, but its use is fundamentally different from conventional indicators. The graph, which is imposed "indicator" is not displayed any conventional lines. We work with another window, another chart.
Installation 1. Find a directory (folder) where you have installed MetaTrader. Surely it would be something like C:\Program Files\MetaTrader4 2. Put the file Range-Bars.ex4 in indicator folder of MetaTrader experts\indicators
Tuning 1. Open 1-min chart. Templates, appearance of this chart are not important. 2. Put on “indicator” Range-Bars (from “user’s section”). 3. Set parameters in Properties: • Check the option in the General tab - allow the import DLL Tab Input parameters: • Range - the range size. Pay attention to the presicion ot quotes. Keep in mind, if the range size equal as the standard timeframe (M5, M15, M30) - a historical data of this timeframe will be erased. It is desirable to avoid conflict and do not have a terminal open window of this timeframes. • MinimunBars - sets the minimum number of bars in history you want to display. If you haven’t more bars then converter will limit that. • EnableGaps - enables (true) or not (false) to show gaps in quotes, which usually occured after the weekend. Its like as Alter Ranges. • EnableSound = true will play a specified audio file when bar closed. • SoundFile - specifies the name of the sound file. The file must be located in a subfolder of the terminal sound. 4. In the upper left corner will be given a few lines about loading indicator. 5. Go to the top menu File -> Open Offline. Next, choose your currency with an imaginary "timeframe" equal to the size of Range. For example, if the currency GBPUSD, Range = 23, then look to GBPUSD, M23. The result will be a new chart with the title (offline) at the top. Further work is being done with this window/chart. Has © 2010 KARDAMON (FC) http://www.kardamonfc.com
Range Bars for MT4 v1.3 © 2010 KARDAMON (FC)
page 3/6
already been possible to impose patterns, indicators, etc. In the future this chart called Range-chart. 6. IMPORTANT! One-minute chart (see paragraph 1) should not be closed! This window can be hidden, push back, etc. 7. IMPORTANT! A further analysis, the imposition of standard templates, indicators, etc. - is on the new chart (see 5) GBPUSD, M23, where you have Range-chart. How it looks - see Annex № 1 at the end of the document.
Additionally To monitor the formation of bars can apply additional indicator Range-Display - it shows the number of points remaining before the final close of the bars, as well as the possible values of High and Low of the current candle. To operate the system Woodie's CCI at Range-chart proposed additional indicator with numeric panel with special tools predict RangeBars. (See http://www.kardamonfc.com or http://kardamonfc.blogspot.com ). Similarly - it is put on range-chart. Delivery - for a separate price.
Working with several financial instruments If you want to analyze a number of financial instruments - that the above installation procedure needs to be done with each. That is, for each tool you want to open your minute chart, impose a converter Range-Bars, customize your settings, open your Range-chart, and impose on Range-chart your favorite patterns and indicators. An example of the desktop with the work given in Annex № 2 at the end of the document. Recommendation: Set up different sounds for different instruments for easy navigation.
Work on one financial instrument with a different Range-size. In the case when you need to build several Range-charts on one instrument, to be imposed on the original one-minute chart converter Range-Bars. In addition, each instance is configured on necessary Range-size, and opens a few of the resulting Range-charts. For example, you need Range-charts GBPUSD23R and GBPUSD16R Apply RangeBars twice on "generating" one-minute chart GBPUSD1M, then configure each to the desired Range-size, and open offline charts GBPUSD23M and GBPUSD16M.
Troubleshooting Current price line of Range-chart can be delayed slightly from the one-minute chart or at all different for a couple of points. That's OK, if you look at the data of other indicators, placed on the Range-chart (for example, the Woodie’s CCI Panel) - current values of Bid will be like one-minute chart.
© 2010 KARDAMON (FC) http://www.kardamonfc.com
Range Bars for MT4 v1.3 © 2010 KARDAMON (FC)
page 4/6
If you have imposed on one-minute schedule of two or more copies of the converter - it is possible that the resulting schedule will stand. What happens if copies of the converter are the same range size parameter, for example, after reinitialization, or a new overlay. It is necessary to put the different sizes of Range.
Limitations When you exit MT4, and switch on after a long break, or after long disconnect the possible inefficiency of the range-chart, or the loss of a few bars of history. Then you need to reconfigure the Range-Bars “indicator” on one-minute chart. Use Property tab of the indicator to make any changes - safer just to change the number of bars (100-120150-200). At present, this deficiency seems to be defeated, but the inclusion may be somewhat unpleasant sound effect - several consecutive "ringtones". When the fatal error message is issued in the window alerts, but the indicator continues to be imposed on the schedule. There is no possibility of testing experts / advisors in history - a non-standard timeframe is not selected in the tester. Testing is only possible if the amount of Ranged coincides with the standard timeframe - 5, 15, 30.
Version History 15.02.10 - v.1.1. Introduced additional parameters - the time frame beginning schedule. 25.02.10 - v.1.11 Corrections. Timetable regarding the gap with the rapid change of course (prices). 05.03.2010 - v.1.2 Another attempt to fix the problem the wrong form of candles with prolonged rupture of communication or simple. The parameter "time of the report of the beginning" is replaced by the minimum number of bars in history. 13.04.2010 - v1.3 I hope that the problem of forming candles when disconnected or easily solved definitively. Parameter name changed to Sound EnableSound Added an option EnableGaps - to create an alternative form of charts, where "Sunday" gaps remain discontinuities.
© 2010 KARDAMON (FC) http://www.kardamonfc.com
Range Bars for MT4 v1.3 © 2010 KARDAMON (FC)
Appendix 1 Appearance
1. Source one-minute chart. 2. Range-chart in pure form. 3. Range-chart with placed templates and additional indicators.
© 2010 KARDAMON (FC) http://www.kardamonfc.com
page 5/6
Range Bars for MT4 v1.3 © 2010 KARDAMON (FC)
page 6/6
Appendix № 2 Terminal view with multiple financial instruments - Range-23 and Range-15 on GBPUSD, Ranged-18 on USDCAD, and ordinary H4 on GBPUSD.
© 2010 KARDAMON (FC) http://www.kardamonfc.com
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