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Best Renko Bar? - better vs median vs sbs vs wicked
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Best Renko Bar? - better vs median vs sbs vs wicked

  #101 (permalink)
tw
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mea109 View Post
Just edit in notepad bars .cs files located in /Documents/NinjaTrader7/bin/Custom/Type

Thanks mate.

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  #102 (permalink)
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Hi RJay

I managed to make it work ...with luck.

First I add to install 3 more types to make BetterRenko appear (new 3 bartypes would not be up yet)

Then I add to close/relaunch NT a few (quite a few) times to make the other appear on the list at their own turn at different intervals ?!

Funny stuff....

Just like you can select 3 minutes period by typing 3M on the chart. Is there a way to assign a shortcut to custom bar types ? Like by typing 6MR it would switch chart to 6 MedianRenko.

Thank you

edit: please disregard screenshot

Attached Thumbnails
Best Renko Bar? - better vs median vs sbs vs wicked-sans-titre.png  

Last edited by mea109; September 28th, 2011 at 04:28 PM.
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  #103 (permalink)
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kronie View Post
so wat really is Wicked Renko?

how does that compare with Range_No_Gap, or Better_Renko?



anyone answer these questions?

hoping for some direction here, perhaps even a download link or two


thanks in advance

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  #104 (permalink)
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Fat Tails View Post
. @roonius was involved with MedianRenko and SBSRenko, and only recommends SBSRenko as per now.

... But I had problems with SBSRenko, as it is not compatible with all NinjaScript methods.

For example all my multi-timeframe indicators, which need to take into account the NinjaTrader sessions to close the higher timeframe bars, do not run on SBS Renko, but they do run on the NinjaTrader default Renko and on Better Renko bars (and on all other NinjaTrader default types).

I'm quite a fan of MedianRenko. Since SbSRenko is supposedly derived from MedianRenko, are you aware of the same MTF troubles for the ancestor one ?

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  #105 (permalink)
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why creating new bar at the middle of previous bar, pls?


TheWizard View Post
That's true with the MedianRenko bars. The creator never worked out the bug that caused them to be unequal. Not that they don't give good signals, IMO, it's just "cosmetic". The reason I liked them (and especially the RenkoHybrid) is because they smooth out all the "noise" on the price panel and the sub-indicator panels. They just make it easier for me to read and understand.

Rjays RenkoHybrid bars ARE all the same size (body-wise, not counting tails). The thing about RenkoHybrid is: say you have your chart set to 4 tick RenkoHybrid. The bar will have to travel 8 ticks before it exhausts it's "range" so that a new bar is created. The new bar will be created at the "median" or middle of the prior bar & then continue its journey up & down for 8 ticks total traveling distance, before another new 4 tick bar is begun. The bodies of the bars, however, willall be a uniform 4 ticks in size. Hope that explains, somewhat. I've attached a screenshot of Rjays RenkoHybrid.

Keep in mind: ALL the bar types tell the same story. It just depends on which "language" (bar type) you're most comfortable reading. I began with minute bars and struggled trying to read them. I don't like the idea of "compressing" data (price-action) into a human-created concept (time) and then trying to "decipher" it's secret message, so to speak. The plainer, the better. And Renko type bars (all of them) smooth out the "noise", as I said earlier. Pull up a 5 minute chart & put all you indicators that you use on it, then pull up a 2nd chart of MedianRenko, BetterRenko, SBSRenko, etc. & see what I mean.

The new bar will be created at the "median" or middle of the prior bar & then continue its journey up & down for 8 ticks total traveling distance, before another new 4 tick bar is begun.

the very fact that the new bar is created at the middle of the previous bar.... and not at a new bar wherever at the top or bottom of the previous bar for the particular price continuation.... indicates certain theoretical constrains or bias already, does it not?.... just a question from a non-programmer.

Rjays RenkoHybrid bars ARE all the same size (body-wise, not counting tails).

in addition, tail is part of a price range, if discounted in any shape or form would surely statistically skew and affect the subsequent price structure whenever adaptation takes place, does it or doesn't it so, pls?


Last edited by nakachalet; September 28th, 2011 at 01:39 PM. Reason: discounting tail of a price structure, statistically significant or not?
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  #106 (permalink)
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I think you missed my point.
The issue is ONE of the NEW bar types conflicts with one of the bar types you ALREADY have installed.
You will need to look at ALL of the custom bar types to find the conflict. (i.e. PointO, Momentum, etc)




mea109 View Post
Thanks for your help.

I just checked and each are different already :
- NoGapRange = Custom2
- MedianRenko = Custom0
- Better = Custom4

Can it come from somewhere else ?!


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  #107 (permalink)
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I use Microsoft Visual Studio but you can use notepad.
(just be sure to have 'word wrap' disabled)


TradeWind View Post
Hi David,
How do we access the NT bar types script to rectify this issue may I ask?
Thank you.
TW


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  #108 (permalink)
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DavidHP View Post
I think you missed my point.
The issue is ONE of the NEW bar types conflicts with one of the bar types you ALREADY have installed.
You will need to look at ALL of the custom bar types to find the conflict. (i.e. PointO, Momentum, etc)

When I exchanged views with you, I had only those 3 custom bar types installed (I installed PointO, Momemtum, etc later in the day)

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  #109 (permalink)
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Better Renko vs RenkoHybrid vs LogikRenko

After much reading here and other related threads, it appears the concensus is that the following 3 Renko types are favored:

*** Better Renko ( with or without Better Brick style)

*** RenkoHybrid

*** LogikRenko

Has anyone specifically compared/contrasted these three types?

Any comments or opinions are greatly appreciated.

Thanks!

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  #110 (permalink)
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