Chart Resolution: Difference between revisions
From MultiCharts
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== Understanding Range-Based Charts == | == Understanding Range-Based Charts == | ||
Each bar in a range-based chart is based on a tick group that consists of successive ticks over a defined price range. | Each bar in a range-based chart is based on a tick group that consists of successive ticks over a defined price range. | ||
The bar's Open component is always one tick above or below the Close component of the previous bar, and the bar’s Close component is always at the High or the Low of the bar. All the bars are of the same height, equal to the range. The next bar is started once the tick with a price outside of the original bar's range has been received. If the price movement is greater than the combined range of two consecutive bars, additional "virtual" bars are inserted between the bars to fill the gap. | The bar's Open component is always one tick above or below the Close component of the previous bar, and the bar’s Close component is always at the High or the Low of the bar. All the bars are of the same height, equal to the range. The next bar is started once the tick with a price outside of the original bar's range has been received. If the price movement is greater than the combined range of two consecutive bars, additional "virtual" bars are inserted between the bars to fill the gap. | ||
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A range-based chart can only be created from tick data. | A range-based chart can only be created from tick data. | ||
<br><div style="background-color: #E3FBE5;">Note: The maximum period of the price data that can be used to create a single bar in a range-based chart is one trading day, including all of the trading sessions on that day.</div> | <br><div style="background-color: #E3FBE5;">'''Note:''' The maximum period of the price data that can be used to create a single bar in a range-based chart is one trading day, including all of the trading sessions on that day.</div> | ||
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