Momentum bars or Price Range Bars

[Akros]

Momentum Bars
by Howard Arrington
Two articles in the Stocks, Futures & Options magazine introduced a new charting concept. The first article was 'Paradigm Shift Lights the Way to Momentum Bars' by Desmond MacRae, SFO Feb 2003. The follow-up article was 'Momentum Bars: The Sequel ...' by Desmond MacRae, SFO Apr 2003. These articles describe a charting concept developed by Danton Long called Momentum Bars.
Momentum Bars are basically constant range bars. The bars look like standard chart bars with an open, high, low, close and volume. The high-low range of each bar is constant. A new bar does not start until a price tick is received that would exceed the fixed range of the current bar. Momentum Bar charts have the following characteristics:

• Each bar is the same height because the range is constant.
• The close of a bar is always at the high or low of the bar.
• The open of a bar is always one tick below or above the close of the preceding bar.
• The time period covered by each bar varies.
• All gaps are filled with inserted 'phantom' bars.

The 'phantom' bars that are inserted to fill a gap create an interesting effect on standard studies. It is true that orders cannot be filled on these 'phantom' bars. But they may generate trade signals more rapidly. You will have to experiment with Momentum Bars to get a feel for study behavior with this new charting concept.

[subq]

I second this request, range bars and volume bars would be nice. Most of the up to date charting programs have them now.

[DavidJNowak]

Why use other charting programs? NinjaCharts is part of NinjaTrader. If range bars were built into NinjaCharts, one can define a trading system that executes automatically from within NT based on range bars.

[NinjaTrader_Ray]

We have included Volume bars for NT6.

[laocoon]

Hello Ray

Can you give us an update on when Constant Range Bars will be available in NT6?

Thanks

[NinjaTrader_Dierk]

Fall timeframe

[laocoon]

Thanks for your reply Dierk.
If I wanted to have Constant Range Bars earlier than this fall, is there a way to develop them with Ninja Script relatively easily or would that be a major task?

Thanks again.

[NinjaTrader_Dierk]

>> or would that be a major task
correct (if possible at all)