Nifty Key levels for day traders

[Pralhad]

Very choppy day today...both sides SL got hit... LOD broke, HOD broke, total chaos...

good day to avoid trading...!

I read on Woodies CCI Club forum that, we can possibly avoid the choppy market by using Rang Bar. But I have no idea how to change the afl and which value will work for Nifty Future for 5 min chart.

Can you throw some light on Range Bar?

 

[linkon7]

I read on Woodies CCI Club forum that, we can possibly avoid the choppy market by using Rang Bar. But I have no idea how to change the afl and which value will work for Nifty Future for 5 min chart.

Can you throw some light on Range Bar?

Range bar eliminates time from the chart and only concentrates on price. Say we select a range bar of 3 points, unless this range is not broken we will not see the next bar...

Top price chart is 3R range bar while, bottom one is 2 min TF...

 

[Pralhad]

Can you tell me how to configure Range Bar in Amibroker? and please Share your expriance and view on its usablility in NF.

Thnaks in Advance.

Regards,

-Pralhad

 

[linkon7]

Can you tell me how to configure Range Bar in Amibroker? and please Share your expriance and view on its usablility in NF.

Thnaks in Advance.

Regards,

-Pralhad

In the tools > preference > intraday tab, there is a option for selecting custom N-tick / range bars.

For NF, i use, 3, 5, 10 and 15 range bars.

It changes the chart all together and the same indicator gives a different view. Problem with amibroker is that, range bars are not accurate it seems. something do with the way it is programmed.

But, i use it intraday to get a better feel of the signal...

my preferred TF is 1, 2, 3, 5, 15 and 60 min.
Range bars i prefer 5R for signals and 3 R for exiting 50%, 10 R for ride...

 

[AW10]

Range bar eliminates time from the chart and only concentrates on price. Say we select a range bar of 3 points, unless this range is not broken we will not see the next bar...

Top price chart is 3R range bar while, bottom one is 2 min TF...

To me this seems similar to what Point-and-Figure Chartist call as Box size.
No new picture is drawn on the chart till the move is not greater then box size. Helps in removing lot of noise from the chart and fits pretty well for swing trading/longer timeframe trading.

Happy Trading

 

[jassinko]

Hi Linkon

can u pls see chart for Unitech and advice whether to hold or exit from the stock.

i didnt understand why it was the highest looser for today.........

 

[linkon7]

Hi Linkon

can u pls see chart for Unitech and advice whether to hold or exit from the stock.

i didnt understand why it was the highest looser for today.........

When a stock is the highest looser of the day, thumb rule is always exit the stock. It fell the hardest, means its adjusting the price to some news thats not public yet...

As per chart, it's a excellent short... please do exit

 

[linkon7]

4835 is the trend decider for the day....

 

[linkon7]

Long above 4841 only...

Avoid being the dagger catcher...

 

[jassinko]

When a stock is the highest looser of the day, thumb rule is always exit the stock. It fell the hardest, means its adjusting the price to some news thats not public yet...

As per chart, it's a excellent short... please do exit

Thanks Linkon.........i will exit it today only

thanks once again