RBC Range Bar Chart
Indicator RBC – Range Bar Chart (Graph Range bars) is a classic indicator for plotting Range bars. In the present display range of prices at which the construction will be: price top vapor / smallest (High / Low), this is the classic one for analysis. Also here there are the opening price (Open), High (High), lowest (Low), Closing (Close). The first option is analyzed values of two prices, in other embodiments, only one is used. Schedule Range bars in its classic version should be based on tick data, but because the server has no such data, construction is possible only on the basis of standard timeframes data bars. Keep in mind that the larger the timeframe, the construction will be rougher. The selection indicator implemented on standard timeframes.
At the first start to press the letter “R” on the keyboard or wait for the specified “period of renovation plotting” (Update period chart), it will start the construction. If the indicator displays a message about the data copy error (Copy error), then the specified action needs to be repeated later, as will copy the data from the server, which may take some time.
It is worth paying attention to:
- If we choose a very large amount of time for analysis (earliest start date), then the construction can take a long time since the start indicator when there is a large number of copying data from the server;
- When tested in the Strategy Tester (Strategy Tester), the date of beginning of the analysis must be chosen before the date of commencement of testing for about a week or a month (depending on the selected step).
- Magic number – Magic number – a unique number indicator need to run multiple indicators at the same time (each, he should have his own);
- Period of the analyzed data – the data being analyzed period – the construction of the indicator can be implemented from the information of bars at different timeframes (more timeframe, the construction is made rougher);
- Update period chart – Period updates plotting – that on each tick not recalculate plotting, you can set a specific time updates;
- Start date analysis – Date of beginning of the analysis – the indicator analyzes and building only from that date;
- Type price for building – View rates for plotting – as mentioned previously in the description, it can be produced based on data from different kinds of prices (High / Low, Open, High, Low, Close);
- Step – Step – the most important parameter plotting Range bars determines the size of the motion required to build a Range bar.
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