Most charting is time-based with clear Open, High, Low and Close specified by the raw data from the market. However, there are options within Track 'n Trade to have a few different types of bars as outlined in the following sections.
This price bar analysis method is used by traders to better identify trending markets and patterns. This technique will alter the Open/High/Low/Close of price bars viewed on the chart. The close will be determined by an average of the OHLC values as opposed to the actual market closing price for each bar. The open is determined by averaging the open and close of the previous price bar.
Heikin-Ashi may be activated from the Charting Preferences tab.
Calculation
Close = (Open+High+Low+Close)/4
Open = [Open (previous bar) + Close (previous bar)]/2
High = Max (High,Open,Close)
Low = Min (Low,Open, Close)
Range price bar charting creates prices bars based on market movement and not time. Unlike other charting time frames, range price bars will all have the same high-low height, and new price bars will only be created from the market exceeding the high-low range size created. If the market does not change in price, or changes in value less than the range of your choosing, no new price bars will appear.
Range Price Bar charting may be activated from your chart time frame tabs located in the lower-left corner of the charting window. You may customize the range value used by right-clicking on any time frame tab below the chart.