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ATR Daily Range Bars
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Hello,
Thank you for contacting us.
Unfortunately, this is not possible in NinjaTrader's current version. I will forward the suggestion to our development staff for further consideration however.
If anything else comes up which I could assist you with please let me know.KyleNinjaTrader Customer Service
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Originally posted by dmking View PostIs there a way to setup a daily chart where ( Data Series-->Period-->Type): TYP = ATR?
TIA
Either your chart is a daily chart, or it is an equal range (or equal true range) chart. If it is a daily chart, a new bar is complete, when the daily session has closed. If your chart is an equal range chart, a new bar is complete, when the range target is met. If it is an equal true range chart, the new bar is complete, when the true range target is met. This would be a very unusual bar type that I have never seen anywhere.
A combination of daily chart and equal range or equal true range chart is not possible, as the two methods for bar completion are contradictory.
Now your request was to develop a bar type based on the average true range. This would involve recalculating the average true range with each tick of the developing bar in order to know the current target. The average true range of the current bar is systematically skewed to the downside, therefore it should not be used.
Your request does not make sense, and I do not understand how such a suggestion can be forwarded to development. Or is there anything that I did not understand? I am eager to learn.
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Originally posted by Harry View PostThis request does not make sense to me.
Either your chart is a daily chart, or it is an equal range (or equal true range) chart. If it is a daily chart, a new bar is complete, when the daily session has closed. If your chart is an equal range chart, a new bar is complete, when the range target is met. If it is an equal true range chart, the new bar is complete, when the true range target is met. This would be a very unusual bar type that I have never seen anywhere.
A combination of daily chart and equal range or equal true range chart is not possible, as the two methods for bar completion are contradictory.
Now your request was to develop a bar type based on the average true range. This would involve recalculating the average true range with each tick of the developing bar in order to know the current target. The average true range of the current bar is systematically skewed to the downside, therefore it should not be used.
Your request does not make sense, and I do not understand how such a suggestion can be forwarded to development. Or is there anything that I did not understand? I am eager to learn.
How about: I'd like RangeBars with ( Data Series-->Period-->Type)Whete ATR is Type Option?
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One last point. You missed the point that Fat Tails was making in his post at BigMikes by saying "The average true range of the current bar is systematically skewed to the downside, therefore it should not be used."
His point was that it's better to use ALL of the data describing price (O,H,L,C) because computers handle the calculations now and only using the close is an artifact from the time when calculations were done by hand.
What he said was,
"There are many indicators that should never be used in COBC = false, because the unstable period should not be considered. Unlike the traditional SuperTrend indicator, SuperTrendM11 and SuperTrendU11 use the average true range and the moving average / median one bar ago. This explains the label "11". This is a preliminary requirement, if you want to use them in COBC = false. Otherwise the average true range would always be skewed to the downside prior to bar completion." The key word is otherwise.
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Originally posted by dmking View PostIt makes sense to me because I can do it on ThinkorSwim. I probably phrased it incorrectly, but the question certainly did not warrant 3 paragraphs.
How about: I'd like RangeBars with ( Data Series-->Period-->Type)Whete ATR is Type Option?
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Harry,
Forget what I said about "a Daily Chart"... The TOS Range Bars provide ( Data Series-->Period-->Type): TYPE = ATR as an option in addition to Ticks (from 5 ticks to 1000 ticks).
I'll see if I can post the Chart Settings Dialoge Window and a chart using ATR from TOS after the close.
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Unicorns?
Originally posted by koganam View PostI have seen it on TOS. And I agree with you. It makes no sense.
This thread is about ATR Daily Range Bars, or ATR Range Bars. So far it is only hot air, as nobody as taken a picture of that animal or explained how it works.
Are we talking about a unicorn or a white elephant?
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Originally posted by Harry View PostI am really curious, I would like to see how a chart looks like to understand it! Could you point me to a place where I can find it?
This thread is about ATR Daily Range Bars, or ATR Range Bars. So far it is only hot air, as nobody as taken a picture of that animal or explained how it works.
Are we talking about a unicorn or a white elephant?
But if you prefer, I will just post a picture.
Moderator: Just the same, if this is an inappropriate post, kindly delete it.Last edited by koganam; 03-06-2015, 09:44 AM.
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Originally posted by koganam View PostI can post a picture, but if you do not have a TOS account, just open one. That gives you immediate access to their Paper Money platform, even if the account is not funded. I presume that you already have a NinjaTrader account, so I am not directing you to another broker: merely showing you how you can get to play with it first hand.
But if you prefer, I will just post a picture.
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Originally posted by Harry View PostPlease post a picture (so I do not have to open an account because my curiosity).
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