Most technical indicators and charting systems were
developed decades ago — perhaps as much as 100 years ago,
or more! This isn’t the case with Range Bar Charts. They
were developed by Brazilian trader Vicente Nicolellis in the
mid-1990s, and they are designed to make use of volatility.
They do this by eliminating time as a factor.
Say what? How can you have a chart that doesn’t even
consider time? How can this be an improvement; to consider
less data, especially a datum as important as time itself?
Well, during periods of low-volatility, insignificant trades
can add noise. If one one-minute block of time has just 10
trades, while another one-minute block has 200 trades, why
should those one-minute blocks be considered equally? By
considering them equal, you’re actually giving added
importance to the 10 trades over the 200. Range Bar Charts
remedy this discrepancy.
In this episode, you’ll learn:
-How Range Bar Charts are calculated, and how they can be
read.
-How to set up your Range Bar Charts with appropriate
ranges, using another statistic: Average True Range (ATR).
-Why Range Bar Charts are arguably more effective than
standard charts (we’ve already given you a hint in this
email).
-How you can use Range Bar Charts as a simple measure of a
security’s volatility.
Happy Trading!
Manny Backus
CEO, Wealthpire Inc.
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