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BrickBars

This is a bar type for NinjaTrader, based on the superb BetterRenko by Aslan. (I only changed the size of the reversal brick, the name and set the PeriodType to Custom9)
It simply paints evenly sized bricks/bars if the price fills the specified range of ticks up or down from the last close.
Instead of only creating ladders (like a regular Renko does) one also gets sideways movement if the market is flat or oscillating. I creates a bit more noise but also helps to identify possible turning points when the market hesitates.
Because these bars are drawn from real ticks, there are some times shorter bars or even small gaps. In my experience it does not influence the correct alignment of the bars.
The BricksBars should be as reliable in backtesting as are the original BetterRenko.

Check, whether you have any other PeriodType registered as Custom9 before importing the script. (If so, you can easily change the number in Notepad.)
If you have any suggestions how to improve the code, feel free to contact me.

For a comparison of similar bar types look here.

Category The Elite Circle

Details: BrickBars
Category: The Elite Circle

June 15th, 2013
Size: 2.30 KB

Comments/ratings

rsmtrade June 22nd, 2013 11:09 AM

Excellent work. It's what I've been wishing for! Combination of range bar and Renko. I like the noise. Like to see the wicks. But like the defined bar open and closes. Thanks again from one who has no programming ability but wishes he did!

coolfutures September 12th, 2013 09:06 AM

Excellent work . Thank you Soren

theidman December 14th, 2014 10:40 PM

No Comment

BoltTrader September 21st, 2016 02:16 AM

Thank you and am looking forward to trying it!

Herbert January 13th, 2017 12:22 PM

Thank you