Renko Barnumber Previous Open Equals Current Bar Open

June 5th, 2020, 11:45 PM

Hi,

I'm trying to tell easylanguage, if the previous open of the bar equals the current bar's open (renko) then go long. I'm not sure how to express this. Can you help?

Here is my attempt. Did not work.

<code>
if o[barnumber[1]] = o[barnumber]

then

Buy ( "Open" ) 1 Share this bar On close ;
</code>

Thank you!
Ryan

June 14th, 2020, 10:32 PM

Hi Ryan,

I have spent A LOT of time coding strategies with Renko bars and let me save you a lot of trouble.

There is technically not an open to a Renko Bar. In hindsight there is, but it real time there is not.

When a Renko bar is "active" (ie... it has not closed and formed a solid brick) the open is still able to be one of 2 spots... Either higher or lower.

I know it is kind of hard to digest - but if you really look at it for a minute you will see what I am talking about.

The ONLY way to code anything accurately with a Renko chart is to make all your calculations based on the close. The close is the close and that will never change. Everything else is dynamic until the bar closes.

Also - Be warned when back-testing with Renko Bars unless you have wicks (Or some call them tails) displayed your results will be REALLY, REALLY, REALLY inaccurate! The easiest way to get around this is to make sure any stop you have is equal to 2 brick sizes or greater and you will avoid a lot of BS.

Hope this helps... I am just trying to save you the hundreds of hours that I spent learning this lesson

Donovan

June 21st, 2020, 05:02 PM

I've been chopping up the entries and exits to make executions better...worked well last go around, only a few trades though...

so if I test a strat where the brick size is 10 ticks and my buy is buy after one green bar, I'll go into the code and change the brick size to 1 tick, and buy after 9 green bars...

Thanks,
Ryan

Renko Barnumber Previous Open Equals Current Bar Open

Discussion in EasyLanguage Programming

Renko Barnumber Previous Open Equals Current Bar Open