Range bar charting is extremely simple, every time price moves x amount of pips a bar is formed. X amount of pips can be whatever you’d like. If you are scalping a small range would work like 10 or so pips, for longer term trading I would use 20+pips. Range bars completely eliminate any time based ranging and work very well in times of high volatility.
My strategy using range bars is very basic and I only use it for scalping because I can’t watch long term ranges constantly. You really have to be around trading like this because a bar can form at any time, unlike time based bars which close at a set time.
If price is trending up, making higher highs and higher lows then we look to trade long. If price is trending up wait for one or more bearish bars to form and then enter at the close of the first bullish candle.
If price is trending down then we wait for 1 or more bullish bars to close then enter on the first bearish bar closing.
Very, very simple. You can make some good pips trading like this when the market is moving good. If the market is slow don’t bother scalping because it’s a waste of time.
Also if a trade goes against you the is a high probability it will continue in that direction. So close and enter the other way, sometimes you get whipsawed out but others it works.
This system takes some practice so demo it for a while before you hit the real money. I hope this range bar strategy helps you out. Happy Trading.