by scjohn2013 » Mon Jun 08, 2015 7:13 pm
Interesting what TX Christopher had to say. My MT4 range bars are all 8 pips. I have had them at 10 pips when I first got the script, but I like the 8 pip better. It comes with a default of 25 pips, which can be changed. I have checked my pips and they are all the same size and they they look like regular candlesticks on the chart ie. many have wicks with smaller bodies, but they are all 8 pips long. It is interesting what Christopher said as I run the script on a 1 minute chart, but the bars are not constrained by time, though I can get a time for each new range bar. On a 5 minute MT4 chart you would get 1 candlestick of various lengths. On my M2 offline chart showing contant range bars I get various numbers of 8 pip candlesticks, depending on the momentum of the price changes of the currency pairs I am following. During the Asia session, 1 candlestick could cover several hours in time if the momentum is very low. The reason I like constant range bars is that it is easier to see trends, especially since I am an inter-day trader. I was able to pick up over 300 pips in good back and forth trades on two currency pairs today. It may be better to try to tweek the one click trading on MT4 to my liking if I can not find a constant range bar script for Market Scope.