Time Or Range Bars for NinjaTrader® 8
Bars that end on time or range, whichever comes first.
TimeOrRange bars end their interval at a predetermined elapsed time span or price action range. These bars work well for driving price based indicators. Traditional range bars are valuable for capturing explosive moves but when the market settles down into a tight range nothing is happening. In some cases this is what’s wanted but in others it’s not. TimeOrRange introduces a maximum time span that a bar is permitted to develop.
Users can configure TimeOrRange bars to expire at a maximum number of seconds or maximum number of ticks. Which ever threshold is met first closes the bar and starts a new one.
Full source code included.
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