Why is there a gap between range bars?

Questions about MultiCharts and user contributed studies.
Soma

Why is there a gap between range bars?

Postby Soma » 08 Feb 2011

How come the open/close of range bars is is off by about a 1/3 of a pip? A range bar should open at or juuust above/below the previous bar however, in MCDT, there is a noticeable gap.

Broker is MBT if that makes a difference.

Image

Soma

Re: Why is there a gap between range bars?

Postby Soma » 08 Feb 2011

Also, there is a quite a difference in the prices of the bars when compared to the same bars in NT. Why is this?

Tony

Re: Why is there a gap between range bars?

Postby Tony » 09 Feb 2011

I believe different platforms shows range bars in slightly different ways. Some start the subsequent bar at the same place the previous one ended (TS does this) whereas others (e.g. NT and it seems MC) start the new bar once the next tick beyond the extreme of the previous bar has started.

For example, a 5 tick range bar on TS might run from 1000 to 1005. The next bar would start at 1005.

On NT (or MC) the first bar would run from 1000 to 1005 and the next bar would only start once 1006 has been hit. In practice, a 5 range bar on TS is therefore actually most similar to a 4 range bar on NT or MC.

My MC and NT handle range charts the same way so maybe we are getting different results due to different data feeds - I have used them both with IB feed (although not at the same time).

Soma

Re: Why is there a gap between range bars?

Postby Soma » 09 Feb 2011

Tony, your description of Range bars in NT is how I expected it to work in MC, however, it doesn't start the next bar at the next tick.

MBT uses subpips (5th decimal), not sure if IB has a 5th decimal but I imagine the do.

In NT7 using MBT a five range tick bar is actually a 50 range tick bar and it goes from 1.1000,0 to 1.1005,0. The next bar will start at 1.1005,1 and end at 1.1010,1. So the bars are continuous, no gaps.

In MC a 5 point bar goes from 1.1000,0 to 1.1005,0. However, the next bar will start around 1.1005,4 and end at 1.1010,4. So there is a gap between the bars, as seen in the screenshot above.

I hope there's just some setting I have entered incorrectly because so far I really like MC and would prefer to use it over NT but the gaps make it hard for me to make the full transition.

Tony

Re: Why is there a gap between range bars?

Postby Tony » 09 Feb 2011

Soma -

I have only looked at range bars on the YM so far and they are working as I described but obviously the numbers involved are very different (no decimals) and maybe that explains the difference.

I too am very keen to transition to MC as I have used TS for years but have persistent data lag problems and I just cannot get on with NT Charts. MC potentially offers charts that feel very intuitive as a TS user (and I already prefer some of the features) but without the data lag.

My issue is resolving the occasional feed issue which seems to be something to do with a pacing violation - see other thread!

Hope you resolve this issue.

Tony

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Dave Masalov
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Re: Why is there a gap between range bars?

Postby Dave Masalov » 18 Feb 2011

Soma,

Please make sure that EUR/USD PriceScale in QuoteManager is set to 1/100000. If it is not, please change it, clear cache for this symbol (right click on the symbol --> Clear Cache) and replot a chart.


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