September 19, 2014
The Range Bars are price-driven bars, with each bar having a required minimum high-low range. Source data are consolidated into one bar until the range requirement is reached, then a new bar is started.
AmiBroker fully supports range-bar type of charting and the bar size is based on the TickSize of given symbol. This allows to define symbol-specific tick sizes individually, them display a chart which for example shows 10R bars (meaning bars using a range of 10-ticks for each symbol respectively).
To display range charts, first you need to specify the TickSize in the Symbol–>Information window.
This can be done manually as shown above, however in case of larger group of symbols it is also possible to use ASCII Importer for this purpose (more details about ASCII imports can be found here: http://www.amibroker.com/guide/d_ascii.html).
Once TickSize has been defined, then in order to display chosen range chart, the easiest way is to use Interval box in the toolbar and just type-in the desired bar size. For example, to select the range bar of 10-ticks, one can type-in 10R in the toolbar:
Custom range intervals can also be defined in Tools–>Preferences, Intraday tab:
Then the pre-defined interval can be selected from View->Intraday menu.
It is worth noting that for best results, your database should use Tick as Base Time Interval, as then each trade is represented by an individual record in the database and can be consistently compressed to range bars. Using higher-interval data (such as 1-minute) may produce bars that are not perfect, especially if 1-minute bar high-low difference is comparable with selected range.