Why we Should Be Trading with Range Bars ?

As traders, we should always test different ways of trading to try and find  something that will give us a better edge in our trades. We should not be afraid to explore new approaches that have not been readily used in the trading arena. Range bars are a new method of charting that qualifies. Basically, a range bar is a bar that has the same price increment and each bar closes either at the high or the low, regardless of where it opened. So, if you want a range of 5 points on the Gold , set your range to 5. Every time the Gold moves 5 points up or down it will print a bar. Time has no effect. This gives us an edge in markets that are moving sideways or are very flat. Take a look at the following charts.

"What is Price Action?" is a frequently asked question between traders.  Traders who ask, feel it is a well kept secret when all they receive for an answer is: 'Swing highs, swing lows, test of top/bottom, etc., are all price action.'   The answer still leaves them in the dark. Understanding price action enables a trader to minimize questionable entries and improve exits.  Price action is the footprint of the money.