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Range bar script for MT4


scratch

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I am sure that I saw a range bar system being shared within the week. I thought that it was like the Rockwall/Rockwell system

 

Found it:

 

http://indo-investasi.com/showthread.php/8419-Autotrading-Strategic-and-Indicator-System-generate-4000-Profit-per-Month?p=97483&highlight=Rockwall#post97483

Edited by Freddie
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I am sure that I saw a range bar system being shared within the week. I thought that it was like the Rockwall/Rockwell system

 

Found it:

 

http://indo-investasi.com/showthread.php/8419-Autotrading-Strategic-and-Indicator-System-generate-4000-Profit-per-Month?p=97483&highlight=Rockwall#post97483

 

Hi Freddy

Yes it seems they say use range bars but that doesn't help me for what I need. I'm looking for the actual range bar script to run on mt4. thanks for trying. Range bars filter out time element, so you're trading pure price action.

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Hi I'm looking for this indicator or one that can create range bars with adjustable settings so you can input 5 for 5 ticks then bar created etc. Apparently scripts are less resource hungry than indicators.

 

http://www.the-forex-strategy.com/index.php/mt4-rangebars-plugin

 

A script is designed to run once and not to produce a continous data stream

I'm using the RenkoLiveChart_v3.2 EA that can be found by a google search

It works fine so far but doesn't behave excactly in the way that every x pips form a new bar

e.g when we had a 5 pips downmove candle it would need 10 pips to create an opposite upmove candle

As long as the move is in the same direction it's ok...only when price reverses you see that double size behaviour

Don't know whether it really matters to see the whole picture

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@Scratch,

 

Like Iwjw mentioned, a script only works once where as you need a continued update for the renko to work in real time. I'm attaching one of the best commercial renko scripts/EA.

 

Save it to your EA folder, open a 1 min chart, apply it. Settings are the renko block size, output timeframe and bars back to count. Then, go to File, Open Offline and select the Output time frame (default is 2). Open this, and keep the 1 min chart open. It will now update live. Best thing about using the script in EA way is that you don't lose the information when you log in and out.

 

http://sharebee.com/a4b43d35

 

Hope this helps

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  • 3 weeks later...
  • 3 months later...
  • 1 month later...

Hi,

 

here you go rangebar script, which can be run as an indicator.., not as a script, but the process is as usual.., you run it on a 1 min chart of the currency pair u want and specify if it is a five or four digit broker.., then choose the amount of pips you want to be formed in the range...,

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  • 2 weeks later...

Hey guys,

musketeer meant probably Markus Heitkoetter, on the link bellow are hiw webinars - he is one of he better educators out there so worth to look at it:

http://www.fxstreet.com/search/contributors/authors/author.aspx?id=60d2e484-d986-449f-9ef5-38cf488afe4f

Basically he uses MACD and Bollinger Bands...but take a look....

I am sure on the forum is posted his home study course...

 

There is no perfect setting any charts, you have to go trial and error way....

 

my 2 cents

 

c.

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if anybody have 2.01 version of the indicator paapi posted, would be greatly appreciated, cause you can plot it on every timeframe, not just 1M chart!!!

Take a look at the video:

 

Amazing...

 

Here demo from the author, it requires demo licence key which i dont have, so havent had a chcance to try it...but maybe some talented IT person would educate it

 

http://www.mediafire.com/file/nbfexg51siacb21/RangeBars_v2_MT4_DEMO.exe

 

c.

Edited by carlhans
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