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Open Feature request MC-1496

Don't Break on Session Option for Regular Points Bars (Range Bars)

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Description

Currently it is possible with Renko bars to choose whether or not to break on session, an option that is quite useful with larger bar sizes, HOWEVER it is not possible to do so with Range bars (Regular Bars set to a fixed number of points range). Larger bar sizes (where there are only a few per day or less) are heavily distorted by break on session close. Even larger size bars are impossible to produce, and all of that is unnecessary.

Steps to reproduce this issue

Create a chart with the bar type regular: points. Select a large box size such as 50 pips (or 500 points for 5 digit broker) on a symbol such as EURUSD. Notice that every few bars are not the size requested due to session breaks.

Comments (3)
#0
user-offline.png  Guest (Guest)
Oct 14, 2013 - 15:30

Without the ability to choose not to break on session, Range Charts(Point based Charts) are not accurate as bars are being created before being completed by Market movement. Session break creates new bars when the market has not even moved the correct number of points to complete the current bar (with the proper point size) and then create a new bar. This creates irregularities in the data, signal generation, backtesting, and live trading. It would be a great addition to have the option to not break on session; this way new bars would not form every 23:58 and instead wait for actual market movement to complete the point bars(Range Charts). Issue MC-1496

#0
user-offline.png  Guest (Guest)
Sep 12, 2014 - 09:23

Not only do I consider this a vital change, I can't even imagine what the reasoning is for the current implementation. As is, larger ranges aren't range bars at all. They are something else. Whatever bars you use, if they aren't consistent in how they're drawn, I question their utility. I'd rather use pure time based bars than they hybrids (for larger ranges). This is a crucial fix for a incomprehensible oversight!!!

#0
user-offline.png  Justin (toedtman)
Sep 28, 2014 - 08:40

I too utilize range bars and cannot for the life of me decide why MC decided to force a bar print at the session close. This seems arbitrary and retards the natural flow and spirit of these bars. On higher settings, they begin to offer the same amount of chop that time-based charts offer, which is what I try to avoid.
From a code perspective, this seems like a very quick win and hope MC takes action on this request soon.

History
Issue basics
  • Type of issue
    Feature request
  • Category
    Usability
  • Targeted for
    MultiCharts 11.0 (RELEASED)
  • Status
    Released
User pain
  • Type of bug
    Not triaged
  • Likelihood
    Not triaged
  • Effect
    Not triaged
Affected by this issue (2)
People involved
Times and dates
  • Posted at
  • Last updated
Issue details
  • Resolution
    Not determined
  • Severity
    Normal
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