According to the published article (the first 1 of 6), “This modified chart will use the correct opening price for the next bar and will also show wicks.”. He further explains that an upward moving brick can only have a wick at the lower side and conversely for a downward moving brick which would provide a more accurate representation of the price move within the bar. He further explains the problem concerning gaps being filled with virtual bricks and that caution need be exercised.
Part of this article and the complete code (no download so copy/paste must be used) can be found on his website, and the URL is:
https://stocata.org/ninjatrader/typeofcharts.html
In Part 2 of the series he will explain how to use it for trading trends.
After downloading the code it must be copied to folder:
\My Documents\Ninja Trader 7\bin\Custom\Type
and because it is provided as a .cs file it must be compiled (by compiling any other indicator). Once compiled Ninja Trader must be closed and reopened before the new chart type, named “SveRenko”, can be used.
Notes:
1. Correction, there is a Custom 1 Chart Type in use. See comments on right by @aligator (Thank you).
2. This chart type was installed only on Ninja Trader 7.0.1000.22 and limited testing performed.
3. No support for or advice on how best to use this chart type can be provided nor can the full text of the article be provided.
Category NinjaTrader 7 Indicators
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