Thursday, January 29, 2009

Set up of a Range Chart

Hi Guys,
I had a question from one of my readers as to what a range chart was and how to set it up in MD. Really simply, a new bar begins to form when the prior bar moves x range. I use a 1.5 point range bar, so a bar is formed after 1.5 points of range is attained.

It is just another way of looking at the market that I find useful. I use the footprints on a 30 minute chart, a 1.5 Range chart and a 5 tick Reversal Chart.

Hope it helps,


1 comment:

  1. Thank you! That is simple, indeed. I am not using the beta, so maybe that is why my chart settings box doesn't look like yours. I'll try it out when I get home.