What exactly are the Mega Bars? Mega Bars are a type of price bar that is similar to a Renko bar. For the Oil Trading Room, we are using a bar brick range of 5 ticks. So the bars are all 5 ticks tall and if you have a reversal, they are 10 ticks tall. This makes computing things really easy because if you have 5 consecutive bars of the same color, it is 25 ticks. Mega Bars are entirely unique however and are unlike any other bar. The room is based on these bars because they are exceptional price bars for intraday trading.
The only place these bars are available is in the Oil Trading Room. They are not for sale or lease. This is also why our trading rules are publicly posted. The rules are not of value unless you have the bars. The difference that makes Mega Bars superior is best said visually. Here are the Mega Bars:
Here is what the equivalent Renko bar looks like:
As you can see, the Mega Bar is extremely smooth and has fewer bars by a large margin. In particular it has very little false signaling. (Especially) when you combine this with the room rules and techniques, you will find it pretty easy to get caught in moves and to manage risk without using a ton of mental processing power. This helps to make trading relaxed and intuitive.
When the market is not moving, it will clamp down and make very few bars. Because of this Mega bars are disadvantaged in a market that is going nowhere. Fortunately, this does not happen in Crude Oil usually for any length of time. I may occasionally bring up other charts for discussion when I am in the room and this is occurring but as long as volatility is normal for Crude Oil, these bars work great!
Join the room and be one of the very few to have this clarity and trading advantage.
Our Room is limited in participation so waiting is not advised. If the room is full, there will be a waiting list.