+1 888 340 6572 GET STARTED
MultiCharts Project Management
Go to the previous open issue
Go to the previous issue (open or closed)
Please log in to bookmark issues
Open Feature request MC-730

New Chart Style - Minutes bars with Range bars

Go to the next issue (open or closed)
Go to the next open issue

I am going to explain an issue I have experienced several times (not an error just a limitation of the charting). I have an automated study running using 15 min. bars (15 min bars gives the best results). The only problem I have is when the market moves real fast against me, generally due to an announcement of some sort, and then the study/strategy has to wait for the bar to close in order for the position to change. I would be really great if we could have time bars combined with range bars. An example of how it would behave and work is: I have it setup using 15 min. bars. Every 15 min it will create a new bar no matter what just like normal 15 min bars. Now in the settings of the chart style I would have set the range value to $10.00. This way if the bar has exceeded the range of $10.00 it will create a new bar even though the 15 min. has not completed yet.

Steps to reproduce this issue

The idea here is to be able to capture gains and/or prevent losses by not having to wait for the bar to close based off of time only bars for a study. Now the basic time based bar portion of the chart would be the probably be used 99% of the time but when a large movement comes at least we can change our position more quickly in the study.

Comments (4)
user-offline.png  JoshM (Jura)
Dec 03, 2011 - 06:37

That's an interesting idea Bwtrader. Thank for adding it here; just voted for it and hope it will be implemented.

user-offline.png  Michael (Id2)
Jan 27, 2012 - 19:24

I just tried range bars, and the version I have (MultiCharts DT 7.4 Beta 2 (build 77)) doesn't think there is historical data beyond a day or two back. Is that a problem others are noticing?
I've got MB forex data today 1/27/2012 and it only plots 1 point range bars to 1/26/2012. Same on Zenfire NQ data, and on forex ascii data I imported from 2009 to Nov 2011 (it says "no data" in range bar mode).
I set my "days back" setting large enough. Mintue bars however work fine so why don't range bars work?

user-offline.png  Michael (Id2)
Jun 01, 2012 - 20:15

I have often thought about hybrid bars and concur with your assessment.  Unfortunately, I don't understand your sentence -- "Now in the settings of the chart style I would have set the range value to $10.00"  Exactly, how is a range bar set to a $10 value?

user-offline.png  ecarlino (ecarlino)
Jan 21, 2016 - 14:37

I just saw this (after i just submitted my own feature request).
Basically, i would like to see a new bar type where 3 parameters are entered:
time (seconds/minutes/hours/days)
range size
whenever any of the 3 thresholds are met, a new bar is triggered and all 3 counters are reset.
i completely agree with you regarding "outsized bars" (in your example, time bars with a huge range) but this can also happen with volume bars (e.g. outside of regular hours) where there is low volume but big moves.  similarly, a range bar can miss situations where a lot of volume is going through in a narrow range.
having all 3 parameters (time, volume, range) provides the ultimate in flexability.
if the MC programmers wanted they could allow any of the 3 to be 'ignored' or the user could simply enter a value that was very large and thus never 'hit'.

Issue basics
  • Type of issue
    Feature request
  • Category
    Not determined
  • Targeted for
    Not determined
  • Status
    Under Review
User pain
  • Type of bug
    Not triaged
  • Likelihood
    Not triaged
  • Effect
    Not triaged
Affected by this issue (3)
People involved
Times and dates
  • Posted at
  • Last updated
Issue details
  • Resolution
    Not determined
  • Severity
Attachments (0)
There is nothing attached to this issue
Commits (0)
There are no code checkins for this issue
Duplicate issues (0)
This issue does not have any duplicates