Range bar counter

[marcow]

cmaxb is referring to the RangeCounter with CoutnDown = false. Most replies I read assume CountDown = true which is not the case !

which is the 'Countdown' setting when it is set to True. However, if it is set to not count down, I believe the range counter should tell you the difference between the high-and-the-low, for that bar, the "range".

cmaxb, if the RangeCounter indicator is set with CountDown = false it will display the distance between last tick and Low[0], or the distance between last tick and High[0]
whichever is largest.

What you want to do is create an indicator which does the following : ( High[0]-Low[0] ) / TickSize

Marco

[stocktraderbmp]

cmaxb is referring to the RangeCounter with CoutnDown = false. Most replies I read assume CountDown = true which is not the case !



cmaxb, if the RangeCounter indicator is set with CountDown = false it will:
- if current bar is a downbar it will diplay the range between High and last tick.
- if current bar is an upbar/nullbar it will diplay the range between Low and last tick.

What you want to do is create an indicator which does the following : ( High[0]-Low[0] ) / TickSize

Marco

I'm guessing that would be the 'Range' indicator then.

You know - the one that comes after PriorDayOHLC but before RangeCOUNTER in the indicator list !!

[marcow]

I'm guessing that would be the 'Range' indicator then.

You know - the one that comes after PriorDayOHLC but before RangeCOUNTER in the indicator list !!

NO, not the range indicator. The range indicator displays Price and not Ticks.
you know the difference between those two ?

[stocktraderbmp]

NO, not the range indicator. The range indicator displays Price and not Ticks.
you know the difference between those two ?

Marcow - I have no quarrel with you - I think your reply is pedantic - the code for the range indicator is :

Value.Set(High[0] - Low[0]);

So fine - it gives you a value that directly relates to the instruments price - if you are unable to determine how many ticks that is of the instrument you trade - imo you shouldn't be trading !!

My point was that Mr CmaxB has all he needs to get the answer he wants with out necessarily coding his own indicator. As he seems to be unable to grasp the concept of a range bar and the range counter - he is unlikely to be coding his own indicators, irrespective of how simple that may be in this example.

If you feel that I was rude to you I apologise.

[marcow]

not pedantic at all. That's what this discussion is all about. I cannot come up with an answer more transparant than this.

I'm answering cmaxb's initial question why the counter is going down when it is set to count up. Cmaxb is assuming the counter indicates the range of the current bar - which is high[0] - low[0], but instead the RangeCounter is displaying the distance in ticks between Close[0] and Low[0] , or Close[0] and High[0] , whichever is the largest.

My point was that Mr CmaxB has all he needs to get the answer he wants with out necessarily coding his own indicator. As he seems to be unable to grasp the concept of a range bar and the range counter - he is unlikely to be coding his own indicators, irrespective of how simple that may be in this example.

You also came to this conclusion on post#11. At least give cmaxb time to read the new posts and take it in. I can imagine he is feeling somewhat attacked by your answers and doesn't want to post again to ask another "stupid" question.

If you feel that I was rude to you I apologise.

No need to apologise, but in my opinion your answers to CmaxB where just a bit "rough around the edges"

ps. updated post#16 to match the explanation above in this post.

Marco

[sledge]

I'm lost, so does this thread, "Range bar counter" have nothing to do with Range Bars?

not pedantic at all. That's what this discussion is all about. I cannot come up with an answer more transparant than this.

I'm answering cmaxb's initial question why the counter is going down when it is set to count up. Cmaxb is assuming the counter indicates the range of the current bar - which is high[0] - low[0], but instead the RangeCounter is displaying the distance in ticks between Close[0] and Low[0] , or Close[0] and High[0] , whichever is the largest.



You also came to this conclusion on post#11. At least give cmaxb time to read the new posts and take it in. I can imagine he is feeling somewhat attacked by your answers and doesn't want to post again to ask another "stupid" question.


No need to apologise, but in my opinion your answers to CmaxB where just a bit "rough around the edges"

ps. updated post#16 to match the explanation above in this post.

Marco

[marcow]

no, this thread is about the RangeCounter indicator, with Count down set to false.

Cmaxb's initial question was about -for him- unexpected behaviour of the RangeCounter indicator. The whole range bar thing was introduced by repliers implying it was sort of a dumb question and that he had to study the principles of Range Bars.

[cmaxb]

Can somebody tell me, how the range counter could show 4, in this chart ?

http://i.imgur.com/w9zrT.png

[NinjaTrader_Matthew]

So we can better analyze your chart, can you please put the "range" indicator on your chart and put this on CalculateOnBarClose = false.

This should show us exactly what the range of the current bar is vs what the range counter is reporting.

[marcow]

Why is that second last bar so small, that is nowhere 10 ticks long, was this the last bar of a session ? And is the last bar the first bar of a new session ? I can imagine that there was a price spike at session open, which caused the last bar to complete, but the indicator needs a new incoming tick to update ?

[NinjaTrader_Matthew]

The one bar is this size due to it being the end of session

[cmaxb]

Why is that second last bar so small, that is nowhere 10 ticks long, was this the last bar of a session ? And is the last bar the first bar of a new session ? I can imagine that there was a price spike at session open, which caused the last bar to complete, but the indicator needs a new incoming tick to update ?

1) yes
2) yes
3) this bar started at the new session, and was one tick away (down) from starting the next bar, the range was actually ten at that point.