A Range Bar chart is based on price movements and is time independent. A range bar is complete when it reaches a set range. When prices are stable, no new bars are formed.
BUY AND SELL SIGNALS
This example shows a range bar chart of 3.5. Every new bar is formed when a range of 3.5 points is exceeded. Because the chart is completely time independent it tends to be show a much more price based rather then time based structure.