Trading with Range bars/candles

Tarquin · 2017-08-04T09:04:32+00:00

I would like to explore trading with Range candles, as there are a number of benefits they can offer for reducing noise, better entry and exit points etc. However, the PRT range candle option does not seem to work properly and does not enable the use of indicators when selected as a chart option. Unless I am missing something. Is this just me not using the correct combination of options, or have others here come across the same problem? Does PRT have any plans to fix this functionality? If not, what is the point of having it as a chart option? Or do I need to look elsewhere at other trading platforms to use Range bars/candles?

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08/04/2017 at 10:04 AM #42472 quote

Tarquin
Participant

Junior

I would like to explore trading with Range candles, as there are a number of benefits they can offer for reducing noise, better entry and exit points etc. However, the PRT range candle option does not seem to work properly and does not enable the use of indicators when selected as a chart option. Unless I am missing something.

Is this just me not using the correct combination of options, or have others here come across the same problem? Does PRT have any plans to fix this functionality? If not, what is the point of having it as a chart option?

Or do I need to look elsewhere at other trading platforms to use Range bars/candles?

08/04/2017 at 10:22 AM #42473 quote
robertogozzi
Moderator

Legend
You can use the keyword RANGE to know the range of any candle:
```
x = range    //current candle
x = range[0] //current candle (alternate syntax)
x = range[n] //Nth candle you want to refer to (1 to.....)
```
Or you may retrieve the highest and lowest prices of a certain period to check if you are in a range (suggestion from Nicolas a year ago):
```
hh = highest[30](high)              //retrieve highest price within the last 30 bars
ll = lowest[30](low)                //retrieve lowest  price within the last 30 bars
IF (hh - ll) > (30 * pipsize) THEN  //it's a range if, say, price is within 30 pips
   .
   .
ENDIF
```
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