(3 FOR 1) CUSTOM BARTYPE SUITE
BarType Suite – Overview
Are you sick of hard-to-read charts and complicated trading signals?
As an active trader, there is nothing more frustrating than when a messy chart leads you to make a mistake while trading. Using the wrong bars for the wrong strategy can be dangerous and lead to unhealthy trading results. While looking at noisy, cluttered charts makes it hard to know if you’re making the right trade or the wrong one and increase your stress levels when trading.
Using the wrong bars for back-testing can lead to believing you have a winning strategy when indeed your strategy is destined to lose money. Without clean charts and data you can trust, you won’t believe in your abilities to trade successfully. On top of all this, you’ve most likely purchased overpriced bar types in the past, only to be let down to limited usage and features.
Have you been struggling with…?
- Using the incorrect bar types for the markets you’re trading
- Trading the wrong fractal with your strategy
- Looking at noisy, messy charts instead of making things easier
- Assuming each market has the same volatility and price action
- Building strategies with the wrong bar types on the wrong markets
- Not knowing the correct settings to make price action smoother to trade
- Performing improper back-testing while using custom bar types
- Not using bars designed for strategy creation and back-testing
- Assuming you have a profitable strategy due to wrong data from incorrect bar-type settings
- Not being able to manipulate price data to suit custom preferences for reading charts
- Relying on inaccurate back-testing results from bar types not designed for testing
- Trading bars and fractals not designed for smoothing price and making charts easy to read
Is it really possible to have cleaner, neater charts?
Yes. With the right knowledge and trade signals, you can increase your effectiveness by with customizable visualization, which increases your chances for trade success.
The GZT Bar-type Suite provides 3 different advanced ways to smooth price data for visualization on your charts. By doing this, it allows you to read price action in a smooth and easy way so that trade signals are clearer, trading decisions become easier, and you can build and test strategies using back-testable custom bar types for more accurate testing results.
These custom bar types come with multiple settings for customization. Use them with universal strategies and tools for day trading or swing trading futures, forex and stocks on any timeframe and for any trader type. Leverage advanced algos to compute the most accurate strategies using cleaner charts and proper testing parameters.
Introducing the BarType Suite…
The GZT Bar-type suite solves this by providing (not 1, but 3) custom bar types designed to smooth price data and provide accurate back-testing capabilities. By using any of these tools, you will be able to customize your charts the way you see the market best and then build strategies with properly-tested settings and features.
Pull Back Feature
When using the GZT_Pullback bars you can set the custom pull back setting that defines a new bar. This is extremely powerful as these bars do not modify the price data while allowing you to control the size of the pullbacks. It also makes reading support and resistance much easier.
Phase 1: Minimum bar size
During this phase, the bar plots all exchanges until the minimum range in ticks is reached. If the setting “Bar Size (ticks)” is set to 8, it means that the range must be more than 8 ticks to go in phase 2. This phase filters the noise of the market.
Phase 2: Pullback
Once in phase 2, the bar continues its trend and can be largely more than the “Bar Size” setting. What matters during this phase is the pullback from the high for an uptrend bar (or the low for a downtrend bar) and the current price.
To close the bar, the pullback must be more or equals to the “Pullback Size” setting. In this example, if the setting “Pullback Size (ticks)” is set to 5, it means that it needs at least 5 ticks from the High (or Low depending on the trend) to close the bar.
Backtest Mode Feature
When using the GZT_RenkoBXT & GZT_RenkoBT you can choose between using the backtest mode or trading mode for proper back-testing and trading. It is critical to have this feature for producing accurate backtests when using custom bar types. See examples below:
GZT_RenkoBXT Backtest Mode Example:
(Same concept applies to GZT_RenkoBT)
With backtest mode OFF, the Open of a new bar is placed at the “Open Offset” setting in order to smooth the chart aspect and help users to identify the trend. However, this Open is totally arbitrary and doesn’t correspond to the real Open.
Because most of oscillators or indicators do not use Open data to make their calculations, traders can still rely on them. But there is one major issue when traders want to backtest their strategy: results are incorrect because sometimes it takes the trade at the open (if the trade is entered at market on bar close).
With backtest mode ON, the Open of the new bar is placed at the close of the previous bar. That way, during a backtest, if conditions are met to enter at market price, we can take the trade at the next open bar which is the same as the close of the ending bar and conform to real-time conditions.
Backtest Mode OFF Backtest Mode ON
Below is an example of a backtest with GZT_RenkoBXT (Strategy : SampleMACrossOver). As we can see, the result is pretty good in Backtest Mode Off, but unfortunately not real. With Backtest Mode On, we can see the accurate result.
ABOVE: Backtest Mode OFF
ABOVE: Backtest Mode ON (reality)
Open Offset Feature
The open offset feature is part of the GZT_RenkoBXT. It provides the ability to smooth price bars by controlling the bar size and reversal size. Below are some examples of the same bar size (8 ticks) and same reversal (16 ticks) but with different Open Offset values:
Time Filter Feature
The time filter is found in the GZT_RenkoBT. When volatility increases, especially during market open/close or during news events, non-time based bar types, like Renko or Range bars, are building phantom bars, with no volume and a 0 second time span. These bars actually do not exist, but are printed on the chart to fill the gaps and complete the construction of these specific bars. The GZT_RenkoBT filters these phantom bars and produces real price only.
Time Filter during News:
The Time filter acts as a stamp during high volatility period to avoid phantom bars and gaps. Below is an example of Time filtered bar during a news release, which corresponds to 6 bars on an 8 Range timeframe. In order to analyze bar volume while demonstrating this concept, we’ve used the GZT_PrintProfiler in the images below:
Dynamic Slot Feature
If you own multiple bar types, you know that sometimes you can’t install 2 bar types from 2 different vendors because they use the same slot.
NinjaTrader* put to our disposal 15 custom slots, but most of the time, 3rd party vendors use the same slots and there is no way for the end user to know which slot is used by the bar-type or change it because of IP protection.
This is why we’ve developed a unique feature called the Dynamic Slot. This feature allows the bar-type to be installed in a specific slot. And, if this slot is already used by another bar type, a search to an available slot is processed. If an available slot is found, then the bar-type will use it.
*Note: NinjaTrader® is a registered trademark of NinjaTrader Group, LLC. No NinjaTrader company has any affiliation with the owner, developer, or provider of the products or services described herein, or any interest, ownership or otherwise, in any such product or service, or endorses, recommends or approves any such product or service.
As an added bonus, we have designed the GZT_BarCloseMarker to assist in using all of bars in the GZT_BartypeSuite. This additional indicator will help identify current price as well as where each custom bar will close. This is equally important when planning entries and exits for application in your trading.
It is compatible with the following bar types:
- Range and GZT_FullRange bar types: based on the range parameters, it will display the possible up close and the possible down close.
- GZT_RenkoBT bar-type: with this two phases bar-type, it is possible to know the possible up and down close only during the second phase.
- GZT_RenkoBXT bar-type: based on the body size and reversal size parameters, it will display the possible up close and the possible down close.
- GZT_PullBack bar-type: with this two phases bar-type, it is possible to know the possible up and down close only during the second phase.
Commonly Asked Questions…
Q: Do you have any training videos on the product and how to use it?
A: Yes, on our website and our YouTube channel. We also provide a detailed user manual, usage and settings video, as well as a pass to our live trading room.
Q: Where can I get information on how to use this indicator either with your strategies or my own?
A: You can contact us directly for any additional questions that are not answered in our training videos and instructional guides. We are here to make integrating these bar types into your normal trading routine as quick and easy as possible.
Q: What trading platform is this software compatible with?
A: Our software is currently available for use with NinjaTrader 7. We are working on a conversion for NinjaTrader 8 and will offer a free upgrade for all current owners of our software when it is completed.
Buy the BarType Suite Software
Now Only $595 USD
Sound like the solution to the trading riddle you’ve been looking for?
Then your next best step is to check out our Online Training Program to see if our online training and software might be a good fit for your trading style. If you’re serious about having the tools and the knowledge that gives you an advantage over all your competition — We should talk!