Timing of range bar C calculation

Questions about MultiCharts and user contributed studies.
wall richard
Posts: 60
Joined: 28 Dec 2007
Has thanked: 9 times
Been thanked: 1 time

Timing of range bar C calculation

Postby wall richard » 25 May 2012

When using range bars when is the prior Close calculated? Is it prior to the next open? Or, after the next open? Anyway to make C calculate before the next open trade?

If an order is generated to trade on the open tick in range bars and the order depends on the last close is there any way to make the last C calculate before the trade is executed on the open tick?

Stork

User avatar
Henry MultiСharts
Posts: 8443
Joined: 25 Aug 2011
Has thanked: 1207 times
Been thanked: 2703 times

Re: Timing of range bar C calculation

Postby Henry MultiСharts » 30 May 2012

Hello Richard,

On the closing tick of the bar you can generate a next bar order that will be placed on the opening tick of the next bar and will use current close price. Example:

Code: Select all

if barstatus=2 then buy next bar at close+X stop;

wall richard
Posts: 60
Joined: 28 Dec 2007
Has thanked: 9 times
Been thanked: 1 time

Re: Timing of range bar C calculation

Postby wall richard » 30 May 2012

Thanks Henry,

Yes, I have come to the conclusion that a current bar order cannot be executed on the same bar. Unless, the order is a limit or stop order.

Is there any way to make your stop X above just one tick away. Or, is a second tick instrument required? I don't like the cluttering of a second tick instrument. Even if it's hidden.

Rick

User avatar
Henry MultiСharts
Posts: 8443
Joined: 25 Aug 2011
Has thanked: 1207 times
Been thanked: 2703 times

Re: Timing of range bar C calculation

Postby Henry MultiСharts » 31 May 2012

wall richard wrote:Thanks Henry,
Is there any way to make your stop X above just one tick away.
Rick

That is possible. X will be = MinMove/PriceScale

Code: Select all

buy next bar at close + MinMove/PriceScale stop;


Return to “MultiCharts”