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

March 29th, 2012, 03:15 PM

2010

Why is median renko not discussed any more, I noticed that the wicks are much shorter on median renko than the wicked renko and sbs renko bars.

median renkos looks nice, only make 3 big mistakes:
- use a virtual, never traded open price with zero volume
- use a NO-GAP loop for create vitual never traded candles with zero volume
- use different volume logics for history and live mode

=> unuseable for realistic backtests and for any volume and/or tradebased analyse
=> for visual live charts without its look good, only many other indicators give wrong/crazy results

March 29th, 2012, 03:28 PM

TimeTrade

median renkos looks nice, only make 3 big mistakes:
- use a virtual, never traded open price with zero volume
- use a NO-GAP loop for create vitual never traded candles with zero volume
- use different volume logics for history and live mode

=> unuseable for realistic backtests and for any volume and/or tradebased analyse
=> for visual live charts without its look good, only many other indicators give wrong/crazy results

Yes, even the author quickly said not to use MedianRenko anymore, and tried to delete all the copies on the forum and replace them with his next version called SbsRenko (as memory serves).

Then @aslan introduced Wicked Renko, which was then later replaced with the superior Better Renko. I think everyone should just use Better Renko or traditional renko, and forget about all these other types because they think they have special powers since they are harder to find or less talked about...

Mike

March 29th, 2012, 03:42 PM

Big Mike

Yes, even the author quickly said not to use MedianRenko anymore, and tried to delete all the copies on the forum and replace them with his next version called SbsRenko (as memory serves).

Then @ aslan introduced Wicked Renko, which was then later replaced with the superior Better Renko. I think everyone should just use Better Renko or traditional renko, and forget about all these other types because they think they have special powers since they are harder to find or less talked about...

Mike

Seems like someone should put together a new Renko WIKI!

March 29th, 2012, 04:01 PM

Big Mike

Yes, even the author quickly said not to use MedianRenko anymore, and tried to delete all the copies on the forum and replace them with his next version called SbsRenko (as memory serves).

Then @aslan introduced Wicked Renko, which was then later replaced with the superior Better Renko. I think everyone should just use Better Renko or traditional renko, and forget about all these other types because they think they have special powers since they are harder to find or less talked about...

Mike

Sorry, the SBS renko code use equal zero volumes and a no gap loop for create virtual never traded bars...

Code

    if (bars.Instrument.MasterInstrument.Compare(close, mymax + rangeValue) >= 0)
    {
        UpdateBar(bars, open, mymax + rangeValue, low, mymax + rangeValue, time, 0);
        bool isLastNewBar = close < mymax + 2 * rangeValue;
        double newBarOpen = mymax + rangeValue;
        double newClose = Math.Min(bar.Close + rangeValue, close);
        do
        {
            AddBar(bars, newBarOpen, newClose, newBarOpen, newClose, time, isLastNewBar ? volume : 0);
            newBarOpen = newClose;
            newClose = Math.Min(newClose + rangeValue, close);
            isLastNewBar = close == newClose;
        }
        while (bars.Instrument.MasterInstrument.Compare(close, newClose) > 0);
    }
    else
        if (bars.Instrument.MasterInstrument.Compare(mymin - rangeValue, close) >= 0)
        {
            UpdateBar(bars, open, high, mymin - rangeValue, mymin - rangeValue, time, 0);
            double newClose = Math.Max(bar.Close - rangeValue, close);
            double newBarOpen = mymin - rangeValue;
            bool isLastNewBar = close > mymin - 2 * rangeValue;
            do
            {
                AddBar(bars, newBarOpen, newBarOpen, newClose, newClose, time, isLastNewBar ? volume : 0);
                newBarOpen = newClose;
                newClose = Math.Max(newClose - rangeValue, close);
                isLastNewBar = close == newClose;
            }
            while (bars.Instrument.MasterInstrument.Compare(newClose, close) > 0);
        }

March 29th, 2012, 05:06 PM

TimeTrade

Sorry, the SBS renko code use equal zero volumes and a no gap loop for create virtual never traded bars...

Which is why I said to use Better Renko.

Mike

March 29th, 2012, 05:07 PM

NJAMC

Seems like someone should put together a new Renko WIKI!

Please do!

Mike

March 29th, 2012, 05:11 PM

Big Mike

Please do!

Mike

We need to find a Victim, I mean volunteer. I am out straight right now, but this issue keeps coming up in many different ways.

I can help someone structure it as the WIKIs are not straight forward without going through your tutorials. If someone is interested, let me know. Good history to capture for future reference.

March 30th, 2012, 09:22 AM

Where can I download the Better Renko indicator? Thank you everyone for your input.

March 30th, 2012, 09:29 AM

2010

Where can I download the Better Renko indicator? Thank you everyone for your input.

elite access:

Better Renko V2 download

@gmorgan111 ( may need to restart NT7

April 2nd, 2012, 02:55 PM

There seems to be a perception that zero volume bars or gap filling is a bad thing. Personally, I think they are just fine as they contribute to the visual aspect of the Renko chart. If you were to put other indicators on a Renko chart, filling the gap can be good or bad depending what kind of behavior you want. Filling the gap can be good because it allows an indicator to normalize faster (i.e. an avg) or by the same token bad because it lets it normalize faster (i.e. want to maintain distance for longer period of time). Depends what you are trying to get out of it.

Of course you need to deal with that from a backtesting perspective, and unfortunately it appears Ninja no longer deals with zero volume bars.

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

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