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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

  #191 (permalink)
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Thank you..

that is/was the one on the screen right now. I'm going to search for threads that discuss to see how others are applying. Thank you again FT.

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  #192 (permalink)
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Better renko

Hi, can anyone tell me why the current price bar does not show, using Better Renko?

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  #193 (permalink)
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yes, the price itself does appear within the renko bar itself.


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Hi, can anyone tell me why the current price bar does not show, using Better Renko?

the exact current price is definitely shown and appeared on your right hand side.

you can see the price marker moving up and down in syn with the price itself.

did you see the price moving?

now, however the exact spot of the price does also appear inside the better renko bar itself.

but unless the price at that moment in time is higher or is lower than the last renko bar itself,
you would not see it. 'cause the price movement is within the high and/or low of the renko bar itself, K?

nevertheless, if and when the price itself moves higher than the bar or vice versa, then you would see the
price and the renko bar moves higher or the renko bar moves lower, depending on the price, K?

that is the way, i understood it.

if i am incorrect, someone more experienced pls corrects me too, OK?

pls look at the attachment--the last price is shown in red, WITHIN the last renko bar, OK?

hope it helps some.

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Last edited by nakachalet; June 18th, 2012 at 02:37 PM.
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  #194 (permalink)
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if you want to see current price use indicator pricelineWH
https://futures.io/ninjatrader/20957-horizontal-lines-indicator-like-priceline.html#post231310

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  #195 (permalink)
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Equidistant Bar Spacing

I have been using the Better Renko since aslan first introduced it and like it very much. However, one thing I miss is a definite and visual way of seeing how quickly a bar is formed. The idea is that if a bar takes a short time to form then there is a higher degree of probability that price will go in the direction of your trade. So, in other words, momentum in in your favor. Conversely, the longer it takes to complete a bar, the less likely that momentum is in your favor. Now to be more clear, I'm thinking like this to support a scalping type entry not a trend following entry...Well most of you know I will write an indicator at the drop of a hat to support/test an idea. The problem is I haven't been able to write one that creates the visual effect that is useful to me.

I discovered something about NT that I knew about but never explored it's use. That little tidbit is the use of the "Equidistant bar spacing" chart property. The default setting is true which is the normal way to view a chart. All the bars are nicely spaced and looks very uniform but hides the time element of a nonTimebased chart. So, on a lark, I changed the setting to false on a 4 tick better renko chart and also changed the Chart Style from candlestick to Box. I immediately noticed areas where the better renko boxes are really narrow and other areas where the boxes are really wide. Plus you see those in between as well. The thing I noticed is that the market is more likely to move with momentum when the bars are thin and less momentum with wide bars. To me, that seems to be what I was expected to happen but now with this setup I can see it very easily. I also adjust the time scale in the x-axis so it shows increments of 5 minutes. I have to check that each day because that seems to change sometimes.

I'm finding that CL seems to work better than TF or YM but they work as well.

Heres a picture of what I'm talking about with the trades I took today on CL...
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There were other opportunites on that chart but either missed or for some reason elected to sit out. But the picture illustrates what I'm talking about. Notice that there are NO INDICATORS on the chart. Oh yeah, there is 1 indicator but it's only useful to show the close of the bar and it's a SMA(Close,1). I use that indicator because there are times when using the Box chart style with the BetterRenko there are gaps in the chart. So, I use that SMA to print something in those gaps. Those gaps occur in faster moving periods where a candlestick shows correctly but the Box does not.

I'm also providing a template because I know someone will ask. Simply create a BetterRenko chart and apply the template. After applying the template you will probably need to squeeze the x-axis together to get a 5 minute interval like what i have.

I'm finding that I'm not trading as much as I was....I kind of like that.

Curious if anyone finds it useful.

Attached Files
Register to download File Type: xml BetterRenkoBoxTemplate.xml (11.3 KB, 109 views)
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  #196 (permalink)
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i thought i was a deviate 'cause i used non-equidistant.... LOL


MWinfrey View Post
I have been using the Better Renko since aslan first introduced it and like it very much. However, one thing I miss is a definite and visual way of seeing how quickly a bar is formed. The idea is that if a bar takes a short time to form then there is a higher degree of probability that price will go in the direction of your trade. So, in other words, momentum in in your favor. Conversely, the longer it takes to complete a bar, the less likely that momentum is in your favor. Now to be more clear, I'm thinking like this to support a scalping type entry not a trend following entry...Well most of you know I will write an indicator at the drop of a hat to support/test an idea. The problem is I haven't been able to write one that creates the visual effect that is useful to me.

I discovered something about NT that I knew about but never explored it's use. That little tidbit is the use of the "Equidistant bar spacing" chart property. The default setting is true which is the normal way to view a chart. All the bars are nicely spaced and looks very uniform but hides the time element of a nonTimebased chart. So, on a lark, I changed the setting to false on a 4 tick better renko chart and also changed the Chart Style from candlestick to Box. I immediately noticed areas where the better renko boxes are really narrow and other areas where the boxes are really wide. Plus you see those in between as well. The thing I noticed is that the market is more likely to move with momentum when the bars are thin and less momentum with wide bars. To me, that seems to be what I was expected to happen but now with this setup I can see it very easily. I also adjust the time scale in the x-axis so it shows increments of 5 minutes. I have to check that each day because that seems to change sometimes.

I'm finding that CL seems to work better than TF or YM but they work as well.

Heres a picture of what I'm talking about with the trades I took today on CL...
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


There were other opportunites on that chart but either missed or for some reason elected to sit out. But the picture illustrates what I'm talking about. Notice that there are NO INDICATORS on the chart. Oh yeah, there is 1 indicator but it's only useful to show the close of the bar and it's a SMA(Close,1). I use that indicator because there are times when using the Box chart style with the BetterRenko there are gaps in the chart. So, I use that SMA to print something in those gaps. Those gaps occur in faster moving periods where a candlestick shows correctly but the Box does not.

I'm also providing a template because I know someone will ask. Simply create a BetterRenko chart and apply the template. After applying the template you will probably need to squeeze the x-axis together to get a 5 minute interval like what i have.

I'm finding that I'm not trading as much as I was....I kind of like that.

Curious if anyone finds it useful.

thought i was the lone deviate for using the non-equi... to gauge volatility.... LOL

now at the very least there are two....

however, how and where did you go to adjust the time line to 5 min, pls? as mentioned below per quote:

thx much.

I also adjust the time scale in the x-axis so it shows increments of 5 minutes.

and any chance of converting .xml to ZIP FORMAT, pls?


Last edited by nakachalet; June 20th, 2012 at 01:13 PM.
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  #197 (permalink)
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nakachalet View Post
thought i was the lone deviate for using the non-equi... to gauge volatility.... LOL

now at the very least there are two....

however, how and where did you go to adjust the time line to 5 min, pls? as mentioned below per quote:

thx much.

I also adjust the time scale in the x-axis so it shows increments of 5 minutes.

and any chance of converting .xml to ZIP FORMAT, pls?

click and hold the left mouse button in the margin of the x-axis and then either slide the mouse left or right.

not sure why you want .xml in zip format. NT will not import template files. you have to put them in the "...\Documents\NinjaTrader 7\templates\Chart" folder

How about that, now we are 2.

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  #198 (permalink)
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really do no understand much about xml nor zip....LOL


MWinfrey View Post
click and hold the left mouse button in the margin of the x-axis and then either slide the mouse left or right.

not sure why you want .xml in zip format. NT will not import template files. you have to put them in the "...\Documents\NinjaTrader 7\templates\Chart" folder

How about that, now we are 2.

yup, using non-equi would appear to be too distracting leading many to assume that the price bars are too disorganized and randomly meaningless....

unless a trader could see the disorganized bars as a whole in his/her own perception, then those disorganized bars remain as most surmised as meaningless.

there have been a dozen of those xml in a separate file but since i do not know enough to import and apply them, they remain there for numerous months since.... LOL

will try to follow your suggestion and see, if i could import them successfully this time. thx much again, mwindrey. much appreciated.

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  #199 (permalink)
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Has anybody used Bluewave precision Bartypes? The Precision renko looks promising....at least in retrospect....it is similar to RJay's hybridrenko but with additional setting of reversal bar percentage ....ie ...trend revereses only after 200-300% of price reversal.......would like to have feedback with these bartypes.
One query about these is that if a reversal bar forms after 200-300% price reversal, then it would have already formed 2-3 normal size renko bars when reverse signal appears....would like to know if this is actually true.

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  #200 (permalink)
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BWT Precision Renko bars


I too was wondering if anyone had any experience with this type of Renko bars and if it's possible to trade using them

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