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Open Feature request MC-2812

Charting: Please support regular range bars

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Description

The closest thing MC has right now is Renko and Flex Renko bars. Regular range bars are somewhat different.
All major platforms support range bars.

Comments (2)
#1
user-offline.png  MultiCharts Support (MultiCharts)
Oct 17, 2022 - 14:57
Hello Mark,

In MultiCharts there is Point (aka Range) Resolution. Each bar in a range-based chart is based on a tick group that consists of successive ticks over a defined price range. The bar's Open component is always one tick above or below the Close component of the previous bar, and the bar’s Close component is always at the High or the Low of the bar. All the bars are of the same height, equal to the range. The next bar is started once the tick with a price outside of the original bar's range has been received. If the price movement is greater than the combined range of two consecutive bars, additional "virtual" bars are inserted between the bars to fill the gap. For more info please refer to this page: https://www.multicharts.com/trading-software/index.php?title=Point_(aka_Range)_bar
We also have a Point Original Chart type. One of the differences between Point Original and regular Point bars consists in the condition that has to be met for bar closing:
modulus |Open*PriceScale - Close*PriceScale| >= chart resolution.
Another difference is that a tick is not split between several bars, but is completely included in one bar, even if the price difference exceeds the chart resolution. To set it please go to Format->Instrument->Settings tab->choose Point Original from the Chart Type dropbox.
If these options do not meet your needs, please specify your request in more detail. Also please illustrate your request with the examples from other sources if possible.
#2
user-offline.png  Mark Simms (Mark Simms)
icon_reply.pngOct 27, 16:40, in reply to comment #1
Now I understand.....my fault for not getting this right.
Please close-out the request.

'''MultiCharts Support wrote:'''
>Hello Mark,
>
> In MultiCharts there is Point (aka Range) Resolution. Each bar in a
> range-based chart is based on a tick group that consists of successive
> ticks over a defined price range. The bar's Open component is always one
> tick above or below the Close component of the previous bar, and the
> bar’s Close component is always at the High or the Low of the bar. All
> the bars are of the same height, equal to the range. The next bar is
> started once the tick with a price outside of the original bar's range has
> been received. If the price movement is greater than the combined range of
> two consecutive bars, additional "virtual" bars are inserted between the
> bars to fill the gap. For more info please refer to this page:
> https://www.multicharts.com/trading-software/index.php?title=Point_(aka_Range)_bar
> We also have a Point Original Chart type. One of the differences between
> Point Original and regular Point bars consists in the condition that has to
> be met for bar closing:
> modulus |Open*PriceScale - Close*PriceScale| >= chart resolution.
> Another difference is that a tick is not split between several bars, but is
> completely included in one bar, even if the price difference exceeds the
> chart resolution. To set it please go to Format->Instrument->Settings
> tab->choose Point Original from the Chart Type dropbox.
> If these options do not meet your needs, please specify your request in
> more detail. Also please illustrate your request with the examples from
> other sources if possible.
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