Range Bars

Range Bars 2016-11-29T10:50:19+00:00

Forget time, watch action

Range Bars are determined for alternate price charting. Unlike the usual time frame chart – where every candle represents a fixed time interval – the goal is to ignore time and to display price movement using candles with equal heights.

  • Including precise, tick-based testing (aka 99% testing model quality). See

    Rangebars FXT Builder for more details. Limits may apply.
  • Precise and Fast and Non-Repainting. Indicator is based on live price feed. Once the price tick arrives, it is recorded and used in all subsequent indicator sessions. Fine data is used only where reasonable, keeping performance at a high level and preserving the data used in previous calculations.
  • Wide Range of Parameter Values. Indicator uses multiple timeframes history, from a week level down to a tick level, ensuring high speed and accuracy for many different input settings.
  • Controlling Performance by a User. Limiting the initial chart length to a fixed number of bars enables user to control chart performance in a defined manner. Moreover, if necessary, indicator can reduce frequency of chart updates.
  • Graphical User Interface. Settings for deployed generators are accessible directly in the chart, both the feed chart and the generated chart. Accessing settings from the generated chart makes parameter handling comfortable.

Installation Guide and First Steps

Watch the video to learn how to install and use Range bars.


Get OmniaBar License Key Bundled @

ElectroFX

Unique Features

What are additional features of Ovo offline generators?

  • the generator is an indicator rather than a script or EA, which makes it more comfortable for deployment
  • input setting is adjustable from multiple places: from the input dialogue, or from the entry box of an indicator sub-window, or from the offline chart using additional indicators (Omnia Remote, Omnia Auto Range). Settings on the offline chart makes the range switching as flexible as switching between timeframes.
  • safe timeframe switching of the feed chart  (no need for sacrificing the feed chart for a single timeframe)
  • generator can detect and optionally break chart into trading sessions
  • generator uses all available timeframes for the initial model, and it is not bound to a single selected timeframe
  • when starting up, the indicator selects the chart starting anchor from the user-defined chart candles count
  • a single indicator can serve multiple identical offline charts (a single chart ID in multiple windows)
  • detects significant drop-outs in feed and rebuilds the offline chart after the feed updates
  • displays consistent candle tick volume calibrated to regular timeframes, so you may rely on the tick volume in your analysis and EAs
  • guards for a change of the feed server, so it updates the chart if you switch between accounts
  • works properly with symbols having MQL unfriendly names (like "EURUSD..", i.e. trailing double dot in the name)
  • reports unexpected time gaps in the MT4 history, reports inconsistencies between symbol timeframes
  • excludes phantom (no volume) ticks
  • fixes incorrect input for a non-trivial instrument tick size
  • can decrease chart refresh rate on demand
  • indicator development is still open, you may expect fast fixes for new Metatrader builds

79 Comments

  1. SK September 8, 2015 at 8:03 am - Reply

    Hi Theo,
    I prefer to configure my charts only one time. I would like to close metatrader 4 platform after trading for a few hours. Every time I open metatrader 4, do I have to reload the range bar indicator again to start collecting data from beginning all over or will it update from earlier data and resume from the previous range bar.

    • administrator September 8, 2015 at 9:32 am - Reply

      Neither of the two. The indicator recalculates all over, but uses previously recorded tick data, so the candlesticks shape is identical like it was in the live session. Only the candlestick chart lenght may be trimmed on the left to fit the initial input settings.

  2. Michel September 20, 2015 at 5:36 am - Reply

    Is it a scripts need to be manually loaded every time MT4 is started, or an indicator who can be left on the charts & will start automatically with MT4 ?

    • admin September 20, 2015 at 9:25 am - Reply

      Hello Michel, it is an indicator, so it sticks to the chart until removed.

  3. Michel September 20, 2015 at 5:38 am - Reply

    Sorry, I was taking about the rang bar one !

  4. Marc November 13, 2015 at 6:20 am - Reply

    What am I doing wrong?–When I clicked the download box to get the Original Range Bars, I got a pop-up box that says, “Adobe Reader could not open ‘RangeBar.ex4’ because it is either not a supported file type or because the file has been damaged…” I am very much looking forward to your product. Please pardon my general basic computer illiteracy.

    • Milan December 1, 2015 at 4:18 am - Reply

      Hello Mark, you may try to rightclick the link and use the “Save link as” option to prevent a browser extension opening the download.

  5. Jas Sandhu November 30, 2015 at 10:45 pm - Reply

    Hi Theo

    I am running EURUSD; Standard 5M chart; Excellent internet connection; Number of offline candles = 600; I am having issues where ONLY the OVO Range Bar Chart becomes laggy and then just freezes. Would this problem resolve the moment I move from an OVO demo to an OVO paid/licensed account?

    Thanks
    JS

    • Milan December 1, 2015 at 4:23 am - Reply

      Hello Jas, there is no difference between trial and licensed use of the indicator, you will encounter the same behaviour. However this behaviour is not typical and you may use the contact form for describing your problem with additional helpful data or screenshots and environment description (versions of Windows, MT4 etc.)

  6. Andy December 14, 2015 at 10:52 am - Reply

    Hello , this is Andy

    I am interested in Range Bar code

    Does it compile to MT4?

    • Milan December 14, 2015 at 2:06 pm - Reply

      Hello Andy, the product is a compiled indicator for MT4. In case you meant the source code, it is not supplied with the product. In case you meant code for the license, you may proceed to the https://ovo.cz/order-key/ page.

  7. Andy December 15, 2015 at 3:17 pm - Reply

    This is Andy again
    Thank you for your reply.

    I have download the trial version.
    Thanks God , it does run smoothly.

    Does it mean the range bar.ex4 will run smooth in the life time version ?

    • Milan December 15, 2015 at 5:51 pm - Reply

      Hello Andy, there is only a single version for both trial and licensed period. The license purchase unlocks time restriction.

  8. Andy December 15, 2015 at 4:32 pm - Reply

    This is Andy again

    I have just have a look to the comment posted by other people

    I have got some questions:
    1) what is the difference between ” Range Bar ” and Range no Gap Bar” ?
    2) what is the best configuration of my PC/ version of MT4 can help your software give the best performance?
    3) MT4 will automatically update itself. Can you software compile to the most updated version of MT4 ? or I need to do something ahead?

    Million Thanks

    • Milan December 15, 2015 at 6:00 pm - Reply

      1. The former respects the original range bars definition, the latter drops down the 1-tick gap rule.
      2. The load caused by the generator alone is constant, but other indicators attached to offline chart might perform better when you keep the offline chart short.
      3. You cannot recompile the indicator yourself, but downloading the latest version solves such problems.

      • Andy December 15, 2015 at 6:58 pm - Reply

        regarding to your reply no.3

        “”downloading the latest version solves such problem””

        Do you mean downloading the latest version of your software ?

        If yes ,
        do I need to pay again to downloading it ? (given that I have paid for the life license of Range bar already )

        or latest version of MT4 ?

  9. Andy December 15, 2015 at 5:01 pm - Reply

    Given :

    MY PC windows is WINDOW 7
    MT4 version is Build 940

  10. Bharath February 6, 2016 at 1:26 pm - Reply

    Hi,

    I would like to buy Range bar generator for forex trading. Could you please advice the price. I see that $45 for 3 months for three user profiles. Is that correct? Does 3 user profile mean 3 computers?

    Please advice, if there are any offers. Does buying more than 1 license cost less?

    Please advice.

  11. Kazuki May 25, 2016 at 4:39 pm - Reply

    I successfully downloaded the range bar but where can I input the code?

    • Milan May 25, 2016 at 4:46 pm - Reply

      Hello Kazuki,
      please enter it into the indicator input entry:

  12. John McDonald May 30, 2016 at 12:41 am - Reply

    I am a range bar trader who has primarily traded Futures using the NT Platform and have been looking into Forex with the MT4 Platform. This is a wonderful indicator! Thank you! I love it but I do have 1 suggestion you might want to consider:

    (1) To the right of the current bar have 2 horizontal lines 1 above and 1 below showing where the current bar will open and close. In addition, I have the price to the right of the horizontal lines.

    This is of tremendous help to me as a price action trader. Below is a pic of what I had programmed for my NT Range Bars:

    Pic: http://prntscr.com/b9zolm

    • Milan May 30, 2016 at 5:10 am - Reply

      Hello john, The OmniaRemote has this feature included.

  13. John McDonald May 30, 2016 at 7:47 am - Reply

    ty Milan I will check it out! Appreciate it.

  14. John McDonald May 30, 2016 at 7:53 am - Reply

    So awesome!! That is exactly what I needed – ty

  15. C July 3, 2016 at 8:47 pm - Reply

    Hi

    Can I trade from the Range Bar Chart? And can I attach an EA to it and have it function correctly. What does OFFLINE chart mean?

    • Milan July 3, 2016 at 9:21 pm - Reply

      Yes, you may trade and run the EA. The wording “offline chart” stands for a chart, which is not directly maintained by the MT4 feed. You might understand it as “custom”.

  16. Walter Dent July 3, 2016 at 9:40 pm - Reply

    Is the auto range software still available? I don’t see the download for it. That would be a very helpful tool.

    • Walter Dent July 3, 2016 at 11:04 pm - Reply

      ooops…found it

      • Walter Dent July 4, 2016 at 12:42 am - Reply

        Ok, its loaded….but the original feeder chart has big and little bars and fills up new ones while scrolling. And the offline bar has equal sized bars but no new ones are drawing. The USD/JPY has moved about 30 pips and no new bar……hmm.
        I’ve watched the video twice but evidently I’m missing something.

  17. Hos August 11, 2016 at 11:43 am - Reply

    Hi I have just purchased you Range Bar indicator, I am using it on Dax index however in the morning when the market opens with a gap up or gap down the gap is shown as a series of green or red range bars is there anyway we can sort this out so that the offline chart shows the real gap and starts the bars from there?

    • Milan August 11, 2016 at 12:01 pm - Reply

      Hello Hos, change the Session parameter either in inputs or by the OmniaRemote GUI.

      • Hos August 11, 2016 at 2:16 pm - Reply

        Thank you sorted out

  18. Cal August 19, 2016 at 10:38 pm - Reply

    Hi just downloaded your range bar ea and would love to finally purchase it but using trial in the mean time, it says valid till September 2nd, two questions is this midnight of September 2nd 00:00 or sometime during the day or midnight of September 3rd, 2nd question is with the purchase I can use it for life on any computer right?

    • Milan August 21, 2016 at 9:17 am - Reply

      The trial time is calculated precisely since the moment of the first indicator use.
      The license is lifetime, you may migrate it from a computer to a computer and use it on three computers concurrently.

  19. Atta August 23, 2016 at 9:12 am - Reply

    Hello,
    Does anyone have the same issue on Range bar chart?
    A part from all benefit of range bar chart, I came a cross with any object when you draw them on the chart, they wont be stay stable and by opening a new candle all the object and trend lines mess up and you have to redraw them again which is really annoying.

    Is there any solution for it?
    Thnaks

    • Milan August 23, 2016 at 9:22 am - Reply

      Do not place control points of objects in the area of the blank part of the chart (the future). The scale on the left-hand side is defined by the range bars, while on the right-hand side by the chart timeframe. The time scales are incompatible between those parts.

  20. Atta August 23, 2016 at 11:02 am - Reply

    Thanks a lot, problem solved.

  21. viveganand August 27, 2016 at 9:17 pm - Reply

    Hi Milan,
    I am viveg,i want to purchase the life time key for rangenogap bars.
    To make it work do i have to purchase omnio remote key as well ?

    • Milan August 28, 2016 at 8:21 pm - Reply

      Definitively not, it is a free tool, and it optional for running the range bars.

  22. Viveg August 28, 2016 at 10:52 pm - Reply

    Ok thanks. Range bar cost mentioned 45 us dollar. Do I have to pay anything extra to set up range bar key? . Will the key work for life time?

    • Milan September 2, 2016 at 6:47 pm - Reply

      No additional costs, and lifetime.

  23. Omar September 2, 2016 at 5:52 pm - Reply

    Hi, will this work on I pad?

    • Milan September 2, 2016 at 6:48 pm - Reply

      It is for Windows MT4, not sure if the Windows version can run on iPad. More likely not.

  24. Olivier September 30, 2016 at 12:40 pm - Reply

    very good work. but I think it lacks Heiken ashi to be perfect

    • Milan October 3, 2016 at 2:09 pm - Reply

      Sure, it lacks a lot of optional features, but I prefer keeping things simple for the user as much as possible.

  25. Mikael Mortensen November 1, 2016 at 7:53 pm - Reply

    When I use the Range Bar Indicator on an off line chart, my MT4 gets slower and slower.

    Is there a way to avoid this?

    Regards,

    Mikael

  26. Randy Johnson December 16, 2016 at 9:34 am - Reply

    I’ve been using your RangeBar_e since Feb 2014. Today it stopped working. The “evaluation as expired” messaged showed up and said version 210.009 is available. What has changed? Did my version expire? Do I need to pay for another license? I love the chart RR charts but now my charts are stalled and trading is suspended. Where do I go from here?

    • Milan December 16, 2016 at 7:57 pm - Reply

      Hello Randy, nice to hear that the historical version is still able to run with the latest builds.
      The reason why the license seems expired is probably because your computer OS got upgraded several times, eating the license with upgrades. However the license is lifetime, and it is valid the latest version. Fix the license yourself at License Check & Key Reset page.

  27. Randy Johnson December 16, 2016 at 10:09 am - Reply

    I downloaded the No Gap Range Bar to see what is was like. Your site said a 15 day try it out before you buy was available. When I apply the Range Bar I get the message “Expired. Next free period starts in 88 days”. So, how does this work?

    Thanks,
    Randy

    • Milan December 16, 2016 at 7:58 pm - Reply

      The no-gap version shares the trial and license with the regular version.

  28. Rod December 27, 2016 at 1:20 pm - Reply

    Hello,

    Does the software populate “phantom” bars when there is a gap in price? Say one bar closes and there is a 10 pip gap up. I am asking for back testing purposes, as I would like to get the most accurate back test possible.

    Thanks,

    Rod

    • Milan December 27, 2016 at 2:43 pm - Reply

      Hello Rod,
      yes, the chart contains the phantoms where expected, you may detect them by zero volume.
      For back-testing with the phantoms, you would need to use the Rangebar FXT Builder. The Strategy Tester does not allow the zero volume bars on its own, however the FXT Builder can insert them.

      • Rod December 27, 2016 at 10:25 pm - Reply

        Milan,

        I am close to being done developing my trading system and I hope to start selling monthly and yearly software licenses for my forex robot. If it goes well, I plan on referring all of my customers to you. Would it be possible to work out a bulk discount for the people that purchase a robot from me? This is assuming that everything goes well.

        Thanks,

        Rod

  29. Rod December 27, 2016 at 10:20 pm - Reply

    Milan,

    Thank you for your quick response. Is there a way to eliminate the phantom bars in order to see just the true price data? That would be very beneficial for me.

    Thanks,

    Rod

  30. flavio January 4, 2017 at 11:26 pm - Reply

    I Milan
    Im tradind currently with your tools – range bars and renko-
    I ve seen on the net some comments about adaptative range bars or dynamic range bars -range is not fixed, it s varying with volatility, from a minimum to a maximum – it seems to be very interesting- do you have something like that?

  31. Phil February 18, 2017 at 2:52 pm - Reply

    Milan,

    Can you direct me to that YouTube video that shows how to back test on MT4 with range bars?
    Thanks.

    Phil

    • Milan February 20, 2017 at 1:46 pm - Reply

      Unfortunately I do not have any video, except the basic one at the FXT Builder page

  32. Gili April 23, 2017 at 1:40 am - Reply

    Hi Milan,

    Really greatfull and enjoying the Rangebar product and Omnia for longtime, any chance I can have a chat with you on skype for few minutes ?
    Have couple of questiones for you and a buisness opportunity ?

    • Milan April 25, 2017 at 8:45 am - Reply

      Hello Gili, unfortunately I have not been using Skype. I apologize very much, I prefer the email conversation, because of very limited time in the recent period.

  33. Gili April 25, 2017 at 10:58 pm - Reply

    Hi Milan, so sending you a mail to the support/contact us.
    I would glad if you can mail me back to confirm you got it please, it’s really important for me.

    Also sent you a PM in FF forums, it’s maybe not so clear, so I will rewrite one to the contact form.
    Thanks,
    Gili

  34. Max May 30, 2017 at 10:47 pm - Reply

    Hi,
    Any plans to release in MT5 soon ?
    Would love to have your range bars in MT5!
    Thanks with much anticipation.

    • Milan May 31, 2017 at 1:05 pm - Reply

      There is intention, but despite it there is still no way how to implement offline charts in MT5. Hopefully they come with some solution in the near future.

  35. Max May 31, 2017 at 6:28 pm - Reply

    Thank you for your quick response.
    Let’s hope they accomodate soon as the transition to MT5 has begun.
    In your opinion, how much more trading time do we have with the MT4 platform?
    Thanks for all. Best regards.

    • Milan June 3, 2017 at 6:42 am - Reply

      Hello Max, I guess two more years are quite sure.

  36. Duangthida Duangsodsri June 30, 2017 at 3:05 am - Reply

    Hello , I am Duangthida
    I would like to know the different between RENKO chart and RANGE bar chart trading setup.
    THX.

  37. Peter July 26, 2017 at 9:52 am - Reply

    Hello,

    I need new bar event even if there is gap. eg. I have a 10point high range bar and at new tick the price is higher than 10 point and the indicator draw 2 bar at the same time. I need event about all drew bars. Is it possible?

    Many Thanks!

    • Milan July 26, 2017 at 10:05 am - Reply

      Hello Peter, I am not sure what events you think of. There is no implicit event defined for the new bar in the MT4, however every coder may create his proprietary event on any condition.

  38. David August 28, 2017 at 7:52 am - Reply

    Hello,

    I need to generate offline Range Bars for different pairs for the last 6 months to test an EA. Which among the scripts can help me achieve the above?

    Many Thanks

    • Milan August 28, 2017 at 9:38 am - Reply

      None of the above. For testing the EA performance you would need the Rangebars FXT Builder.

  39. David August 28, 2017 at 9:51 am - Reply

    Hi Milan,

    Thanks for the reply. One more quiz. Which indicator will generate the same Range Bars as that test data generated by the Rangebars FXT Builder now on live.

    Thanks and Regards

    • Milan September 3, 2017 at 6:06 am - Reply

      The same range bars on the test chart – exactly as you can see on your live chart – can be achieved by the BackTestHelper. However they won’t be tick based.

  40. Zeke September 8, 2017 at 5:00 am - Reply

    Would it be possible to have an alert that notifies when a new range bar is created?

  41. […] indikátorok közül a Renko chart generáló oldalát ide, míg a Range chart generáló oldalát ide kattintva tudod […]

  42. Adrian October 24, 2017 at 11:12 am - Reply

    Hi Milan,

    My Range Bar Generator is giving the nessage “Valid till November 7”. Why this is happening? TIA for your answer

  43. Adrian October 24, 2017 at 11:14 am - Reply

    BTW, I have recently changed windows 7 for windows 10

  44. Chris October 31, 2017 at 9:21 am - Reply

    Hi,
    Please can you advise how to edit the chart update frequency?

    • Milan October 31, 2017 at 9:28 am - Reply

      You may use the delay_omnia parameter as described here

  45. Adrian October 31, 2017 at 12:48 pm - Reply

    My Range Bar Generator is giving the nessage “Valid till November 7”. Why this is happening? TIA for your answer. BTW, I have recently changed windows 7 for windows 10

  46. Chris November 2, 2017 at 9:33 pm - Reply

    Hi, Is there any way to auto reload the chart when changing the range scale via the Omnia Remote?
    Some 3rd party indicators don’t respond to the change and become misaligned until they, or the chart is reloaded.
    Thanks

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