0

I'm having problems to understand how to read the range bars from TradingView (not sure if something particular of this platform), image for reference:

enter image description here

I can see every bar is $50 between high-low, why is that? if I'm selecting 100R I was exepecting a difference of $100.
Also I can see there are some gaps between bars, why is happening that? what does it mean?
Lastly, I cannot understand how is calculated the "open" of every bar, I was expecting the open to be always near the to the prev close.

// Chart is for BTCUSD, Range100 in TradingView

0

The Open represents the first trade of the new day.

If the Open is the low price for the day, it will be located on the bottom left of the daily bar (see the 5th red bar which occurred the day after the security peaked).

If after the Open the security drops below that and then rises above the Open, the Open will be attached to the daily bar but not at the top or at the bottom.

If the Open is the high price for the day, it will be located on the top left of the daily bar (see the 1st green bar two days after the security peaked).

I can't help you with the question about the $50 bar lengths because I have no idea what security this is. See if you can find some historical data (O, H, L, C) from your broker or from a web site. That might shed some light on this.

  • I think that is not possible, the chart is for Bitcoin, is 24/7 there are no gaps between days. And my questions about the $50 was why the range was $50 if I'm selecting 100R in TradingView (that's why I'm not sure if this is a particular thing of tradingview) – Enrique Dec 23 '19 at 20:09

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.