Hi there!

Metastock is not capable to draw Range Bar charts.

But I was wondering if it's possible to make an indicator based on the ideia.

The ideia is that the indicator (line) will change if price moves X points/percents above or below the previous value of the indicator.

A solution that I've found was Jose's Stepped Price/Indicator output v2.0:

{ ©Copyright 2005 Jose Silva
For personal use only
http://www.metastocktools.com }

{ Data array or indicator to quantize }
x:=C;
{ User inputs }
step:=Input("Step size",0,10000,0.5);
type:=Input("Step type: [1]$points, [2]%percentage",1,2,1);
{ Step size }
step:=Max(If(type=1,step,
LastValue(x*(step/100))),.00001);
{ Stepped data array }
stepX:=Int(x/step+.5)*step;
{ Plot on price chart or own window }
stepX
{end}

But it didnt work as i thought.

After sometime thinking, i finally got something near of what i want. I don't see problems with the code but it didnt work as i thought too. Can anyone, please, point and solve the problem? In advance, I'm really not sure about the use of PREV function... Here's the code...

=B.F. - Range Bar Indicator=

{begin}

rsize:=Input("Range Size (points)",0,1000000,0);
fstv:=Input("First indicator value",0,1000000,0);

ValueWhen(1,

{CONDITION} (H - If(PREV=0,fstv,PREV) > rsize) OR (If(PREV=0,fstv,PREV) - L > rsize) ,

{PLOTED VALUE}
If((H-If(PREV=0,fstv,PREV) > rsize), If(PREV=0,fstv,PREV) + rsize ,If((If(PREV=0,fstv,PREV)-L > rsize), If(PREV=0,fstv,PREV) - rsize, If(PREV=0,fstv,PREV))));

{end}

The idea is: If PREV=0 than it calls "first value" parameter, although it calls previous value of indicator. If H-(PREV or 'FirstValue') > 'defined range', it gives you (PREV or 'FirstValue') + 'defined range' and If (PREV or 'FirstValue')-L > 'defined range', it gives you (PREV or 'FirstValue') - 'defined range'...

Any help is welcome...

Thanks in advance...