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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

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  #1 (permalink)
 rpm123 
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I've researched and have seen a lot of disagreement and conflicting info. Has a winner emerged?

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 cory 
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yes betterrenko with betterbrick style but then again its just one man opinion asking for a winner is like asking who is the best looking in miss universe contest.

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 rpm123 
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cory View Post
yes betterrenko with betterbrick style but then again its just one man opinion asking for a winner is like asking who is the best looking in miss universe contest.

shoot, you threw in another variable, betterbrick.

@roonius, i know you created at least two of these, can you pls be sure to weigh in. I know you don't support median anymore, are you still happy with sbs and compared them to the others?

thanks cory, roonius,
rpm123

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 Fat Tails 
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cory View Post
yes betterrenko with betterbrick style but then again its just one man opinion asking for a winner is like asking who is the best looking in miss universe contest.

Maybe you cannot agree, who is the prettiest girl in the contest, but there are a few that are already overweight and have wrinkles So let us look at the different renko bar types that have been created. I think that all bar types with an *) are obsolete.

- Ed's Renko *)
- MedianRenko *)
- B6Renko *)
- WickedRenko *)
- SBSRenko
- NinjaTrader Renko (introduced with NT7)
- LogikRenko
- BetterRenko

I think that @ aslan has created B6 Renko, Wicked Renko and Better Renko. Better Renko is the latest creation and replaces the earlier models. @ roonius was involved with MedianRenko and SBSRenko, and only recommends SBSRenko as per now. That limits the choice to four of those Renko bar types, namely:

- Default NT Renko
- SBS Renko
- LogikRenko
- BetterRenko

I have never tested LogikRenko - which is a commercial bar type. However, I have installed the three other ones. I have not had any problems with the default Renko and the BetterRenko bar types. 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).

That is my current state of knowledge. If anyone knows better, please post!

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 cory 
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Fat Tails View Post
...

I think that @ aslan has created Eds Renko, B6 Renko, Wicked Renko and Better Renko. ...

That is my current state of knowledge. If anyone knows better, please post!

just this, Ed created Eds Renko.

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 Fat Tails 
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cory View Post
just this, Ed created Eds Renko.

Have modified my post. Thanks for the correction.

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 Jeff Castille 
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I have become a very big Better Renko fan! Very easy to see price action.

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 rpm123 
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Fat Tails View Post
Maybe you cannot agree, who is the prettiest girl in the contest, but there are a few that are already overweight and have wrinkles So let us look at the different renko bar types that have been created. I think that all bar types with an *) are obsolete.

- Ed's Renko *)
- MedianRenko *)
- B6Renko *)
- WickedRenko *)
- SBSRenko
- NinjaTrader Renko (introduced with NT7)
- LogikRenko
- BetterRenko

I think that @ aslan has created B6 Renko, Wicked Renko and Better Renko. Better Renko is the latest creation and replaces the earlier models. @ roonius was involved with MedianRenko and SBSRenko, and only recommends SBSRenko as per now. That limits the choice to four of those Renko bar types, namely:

- Default NT Renko
- SBS Renko
- LogikRenko
- BetterRenko

I have never tested LogikRenko - which is a commercial bar type. However, I have installed the three other ones. I have not had any problems with the default Renko and the BetterRenko bar types. 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).

That is my current state of knowledge. If anyone knows better, please post!

I think Fat Tails narrows it down pretty well to BetterRenko. Thank you. I have been using these mostly and had only tried the other ones for a short time (excepting the commercial bars, never tried them). I have not played with the Better Brick option of Better renko, which I'll try. Plus in my research I found a indie that predicts the close (like the one for the range bar) which I will load and try. As well as my research pointed to @MWinfrey's method of adjusting the grid to the bar size. All good stuff. Thanks again to the futures.io (formerly BMT) gang. Please, anyone to weigh in more would be great.

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 cory 
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rpm123 View Post
... Please, anyone to weigh in more would be great.

just this, he wrote a project betterko close indi for the next up bar and down bar but they are hard to see so I bold them a bit.

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 rpm123 
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cory View Post
just this, he wrote a project betterko close indi for the next up bar and down bar but they are hard to see so I bold them a bit.

@cory thanks. i have better renko but not seeing the better brick option, plus when i load the .cs above i'm getting an error, line 20, column 18. I searched for a new better renko and better brick zip just to make sure i had the most recent and had trouble finding either. your continued help is much appreciated.

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 cory 
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rpm123 View Post
@cory thanks. i have better renko but not seeing the better brick option, plus when i load the .cs above i'm getting an error, line 20, column 18. I searched for a new better renko and better brick zip just to make sure i had the most recent and had trouble finding either. your continued help is much appreciated.

betterbrick

renkobrick close zip here

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rpm123 View Post
I've ressearched and have seen alot of disagreement and conflicting info. Has a winner emerged?

Having read all the posts and threads on the subject, Better Renko is the only one to use.

Mike

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 rpm123 
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cory View Post
betterbrick

renkobrick close zip here

@ cory thanks, i had found those but they did not work for me. I deleted even betterrenko and started over. loaded better renko. fine. loaded better brick, said it was already there, went back and deleted it, loaded fresh, yes restarted, better brick not there, renko brick close won't load, same error, probably because not finding better brick. i can see them all in their proper directories, just cannot pull up in chart window bar type. I do believe I had better brick at one time several months ago, it's not wanting to show its face, no matter how many times I try this time around.

thanks for your patience. not wanting to be a pest on ninja issues, if you or anyone has an idea let me know, or I'll enter the ninja support forum of no return. thanks again

it's in data series, chart style, chart style. hiding in plain sight all along. close zip works too.

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 steve2222 
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Fat Tails View Post
Maybe you cannot agree, who is the prettiest girl in the contest, but there are a few that are already overweight and have wrinkles So let us look at the different renko bar types that have been created. I think that all bar types with an *) are obsolete.

- Ed's Renko *)
- MedianRenko *)
- B6Renko *)
- WickedRenko *)
- SBSRenko
- NinjaTrader Renko (introduced with NT7)
- LogikRenko
- BetterRenko

I think that @ aslan has created B6 Renko, Wicked Renko and Better Renko. Better Renko is the latest creation and replaces the earlier models. @ roonius was involved with MedianRenko and SBSRenko, and only recommends SBSRenko as per now. That limits the choice to four of those Renko bar types, namely:

- Default NT Renko
- SBS Renko
- LogikRenko
- BetterRenko

I have never tested LogikRenko - which is a commercial bar type. However, I have installed the three other ones. I have not had any problems with the default Renko and the BetterRenko bar types. 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).

That is my current state of knowledge. If anyone knows better, please post!

And then there is @ RJay with his RenkoHybrid

Personally I use SbSRenko. But still evaluating RenkoHybrid

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 RabC 
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I've evaluted RJay's RenkoHybrid over the last 2 weeks and personally have found it wins hands down v's all other Renko-types.

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 rpm123 
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RabC View Post
I've evaluted RJay's RenkoHybrid over the last 2 weeks and personally have found it wins hands down v's all other Renko-types.

Hi RabC, RJay was kind enought to trial me for two weeks too, but I spent all my time looking at the channel trend bars. They moved fast, trended nicley, but were manufactured bars, in that although price action was represented, the opening of a bar was not necesarily where it really opened. They were kind of an indicator and a bar built into one. Is the RenkoHybrid a manufactured bar as well and maybe you could post a picture of a better renko and a hybrid chart for the same periods. thanks

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 Jeff Castille 
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rpm123 View Post
Hi RabC, RJay was kind enought to trial me for two weeks too, but I spent all my time looking at the channel trend bars. They moved fast, trended nicley, but were manufactured bars, in that although price action was represented, the opening of a bar was not necesarily where it really opened. They were kind of an indicator and a bar built into one. Is the RenkoHybrid a manufactured bar as well and maybe you could post a picture of a better renko and a hybrid chart for the same periods. thanks

RJay has comparisons on his site.

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 aligator 
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One more thing about MedianRenko, it works fine and looks good (compared to RJay's RenkoMedian and RenkoHybrid). The only limitation is that it is limited to even Renko sizes (2, 4, 6, etc.)

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 RabC 
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Here you go....I've attached a few from this morning. I've taken off the indicators etc just to show the price bars. Have found RJays renko to be particularly useful in the wild moves over the last 2 weeks.

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Name:	MedianRenko Tick.jpg
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 aligator 
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RabC View Post
Here you go....I've attached a few from this morning. I've taken off the indicators etc just to show the price bars. Have found RJays renko to be particularly useful in the wild moves over the last 2 weeks.

RabC,

What are Woodie Bars in your third screenshot? They seem similar to Median Renko. Are they somewhere on the forum? Also, the Median Renko according to its author does not work for odd Renko sizes (3,5,7,9,etc.) as you show 9 Median Renko.

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 brevco 
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I have used all the different Renko bars available (or at least all the ones I've found). Of all of them,
I liked Better Renko but during these fast markets, I was getting a lot of gaps.

I have settled on RJay's Hybrid Renko bars. I compared Woodies bars to Better Renko and they
gave the exact same signals wth the CCI, but RJay's Hybrid Renko bars are by far the best and
consistent.

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 brevco 
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aligator View Post
RabC,

What are Woodie Bars in your third screenshot? They seem similar to Median Renko. Are they somewhere on the forum? Also, the Median Renko according to its author does not work for odd Renko sizes (3,5,7,9,etc.) as you show 9 Median Renko.


Woodie Bars are a version of Renko Bars. You cannot purchase them but you can lease them for $199 per month. Also, according to Woodie, you must use even numbers with Woodie Bars.

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 RJay 
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brevco View Post
Woodie Bars are a version of Renko Bars. You cannot purchase them but you can lease them for $199 per month. Also, according to Woodie, you must use even numbers with Woodie Bars.

RenkoHybrid Bars should be used with even numbers as well.

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 Big Mike 
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brevco View Post
Woodie Bars are a version of Renko Bars. You cannot purchase them but you can lease them for $199 per month. Also, according to Woodie, you must use even numbers with Woodie Bars.

This news is really upsetting to me. I say this because woodie contacted me specifically with regards to using these bars for his website, and I made it clear they were Elite Only. So unless he obtained permission from @aslan as the author of Better Renko, then this is very, very upsetting news.

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 aligator 
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Big Mike View Post
This news is really upsetting to me. I say this because woodie contacted me specifically with regards to using these bars for his website, and I made it clear they were Elite Only. So unless he obtained permission from @aslan as the author of Better Renko, then this is very, very upsetting news.

Mike

Mike,

I believe Better Renko works with both odd or even numbers. Median Renko works only on even numbers. It seems like more than one vendor have hijacked Median Renko from the Elite Section and marketing it as their own. Some banning may be in order.

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 cory 
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Big Mike View Post
This news is really upsetting to me. I say this because woodie contacted me specifically with regards to using these bars for his website, and I made it clear they were Elite Only. So unless he obtained permission from @aslan as the author of Better Renko, then this is very, very upsetting news.

Mike

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 FrankFX 
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brevco View Post
Woodie Bars are a version of Renko Bars. You cannot purchase them but you can lease them for $199 per month. Also, according to Woodie, you must use even numbers with Woodie Bars.


Maybe it is a little off topic here, but for those who are interested in the "new" woodiebars:

I have compared the original $199pM "Woodiebars" Chatroom Chart with free MedianRenko Bars.


And what i have found out is really disappointing to me.

As you see in the attachment my template matches woodies pretty close. All you need is out in public for free.

Median Renko here at futures.io (formerly BMT)


ReversalBar_v2 here at futures.io (formerly BMT)

WoodieCCI comes with Ninja

Jeff`sCCI, I think from ThatManfromTexas - for coloring the CCI and the Background

Those useless by him so called "CCI Bands" are nothing else then ATR Volatility Bands you can purchase for $9,95 here at www.micro-trends.co.uk. and use them with the standard settings and tweak them a little.
Not on my chart on the right is the pricepanel but also available for free.

I am sorry to say and hoping i am wrong but to me, as a long time woodies chatroom follower, it seems the 33y professionell trader has turned in to a snakeoilsalesman (or he always was).


Frank

P.S. you know his trading mantras are: traders helping traders or a candle looses nothing by lighting another candle (you only have to pay $199p.M.)





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 cory 
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FrankFX View Post


Those useless by him so called "CCI Bands" are nothing else then ATR Volatility Bands you can purchase for $9,95 here at www.micro-trends.co.uk.

we have band based on ATR here too.

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 aligator 
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FrankFX View Post

Maybe it is a little off topic here, but for those who are interested in the "new" woodiebars:

I have compared the original $199pM "Woodiebars" Chatroom Chart with free MedianRenko Bars.


And what i have found out is really disappointing to me.

As you see in the attachment my template matches woodies pretty close. All you need is out in public for free.

Median Renko here at futures.io (formerly BMT)


ReversalBar_v2 here at futures.io (formerly BMT)

WoodieCCI comes with Ninja

Jeff`sCCI, I think from ThatManfromTexas - for coloring the CCI and the Background

Those useless by him so called "CCI Bands" are nothing else then ATR Volatility Bands you can purchase for $9,95 here at www.micro-trends.co.uk. and use them with the standard settings and tweak them a little.
Not on my chart on the right is the pricepanel but also available for free.

I am sorry to say and hoping i am wrong but to me, as a long time woodies chatroom follower, it seems the 33y professionell trader has turned in to a snakeoilsalesman (or he always was).


Frank

P.S. you know his trading mantras are: traders helping traders or a candle looses nothing by lighting another candle (you only have to pay $199p.M.)





Ditto! Also, I might add that those purple horizontal lines are the same as RenkoBrickClose indicator from futures.io (formerly BMT).

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 nakachalet 
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FrankFX View Post

Maybe it is a little off topic here, but for those who are interested in the "new" woodiebars:

I have compared the original $199pM "Woodiebars" Chatroom Chart with free MedianRenko Bars.


And what i have found out is really disappointing to me.

As you see in the attachment my template matches woodies pretty close. All you need is out in public for free.

Median Renko here at futures.io (formerly BMT)


ReversalBar_v2 here at futures.io (formerly BMT)

WoodieCCI comes with Ninja

Jeff`sCCI, I think from ThatManfromTexas - for coloring the CCI and the Background

Those useless by him so called "CCI Bands" are nothing else then ATR Volatility Bands you can purchase for $9,95 here at www.micro-trends.co.uk. and use them with the standard settings and tweak them a little.
Not on my chart on the right is the pricepanel but also available for free.

I am sorry to say and hoping i am wrong but to me, as a long time woodies chatroom follower, it seems the 33y professionell trader has turned in to a snakeoilsalesman (or he always was).


Frank

P.S. you know his trading mantras are: traders helping traders or a candle looses nothing by lighting another candle (you only have to pay $199p.M.)





hi again frank_?

good to see you here also.... LOL

you are the man....

much appreciate your exemplary detective work....

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 MWinfrey 
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Nothing new in these revelations about Woodie. I owe him a lot from the beginning of my trading life but he's a character for sure.

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 nakachalet 
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MWinfrey View Post
Nothing new in these revelations about Woodie. I owe him a lot from the beginning of my trading life but he's a character for sure.

hi mwindrey

i also use cci extensively, much of which learned from woodie's free chat room which is now no longer in existence. (so you also know tonyuk, susan, nick and nicker et al....?)

the free chat room has been transformed into a fee paid room requiring about 200 usd per month to join to watch his woodiesbar in action.

and now that the fraud about woodiesbar has been discovered and exposed conclusively.... and most extensively by a frank_?.... it is a darn shame.... to have such a good intended beginning--traders helping traders.... and to culminate in such an ashamed concluding chapter....

all the good traders behind the scene and the moderators must be mightily disappointed in the shocking discovery.

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 MWinfrey 
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nakachalet View Post
hi mwindrey

i also use cci extensively, much of which learned from woodie's free chat room which is now no longer in existence. (so you also know tonyuk, susan, nick and nicker et al....?)

the free chat room has been transformed into a fee paid room requiring about 200 usd per month to join to watch his woodiesbar in action.

and now that the fraud about woodiesbar has been discovered and exposed conclusively.... and most extensively by a frank_?.... it is a darn shame.... to have such a good intended beginning--traders helping traders.... and to culminate in such an ashamed concluding chapter....

all the good traders behind the scene and the moderators must be mightily disappointed in the shocking discovery.

yes i know them...this bar is NOT the first shocking discovery. that group goes through the same shocking discovery over and over again. the community redefines itself after each occurrence and keeps on going just like the eveready bunny (if you remember the battery commercial) or like the old Timex commercial, takes a licking and keeps on ticking.

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 brevco 
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Well, this isn’t going to be “news” to anyone who has been studying/trading for any length of time, but by tweaking the parameters of most any indicator you will get the same signals/results.

Many vendors take commonly used indicators, change colors and parameters or change a line to a histogram or a histogram to a line and call it proprietary. This isn’t the case with ALL indicators, but in most cases it is.

What makes it “proprietary” is how they use it, and we pay for their knowledge and time for sharing it with us.

It’s not my intention to criticize or condone these actions of any vendor, but it is just a fact and it happens all the time.


I am not currently a member/participant in Woodies room, so the only time I've seen how he uses his new setup(s) is in a free webinar he did a couple of months ago.

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 nakachalet 
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brevco View Post
Well, this isn’t going to be “news” to anyone who has been studying/trading for any length of time, but by tweaking the parameters of most any indicator you will get the same signals/results.

Many vendors take commonly used indicators, change colors and parameters or change a line to a histogram or a histogram to a line and call it proprietary. This isn’t the case with ALL indicators, but in most cases it is.

What makes it “proprietary” is how they use it, and we pay for their knowledge and time for sharing it with us.

It’s not my intention to criticize or condone these actions of any vendor, but it is just a fact and it happens all the time.


I am not currently a member/participant in Woodies room, so the only time I've seen how he uses his new setup(s) is in a free webinar he did a couple of months ago.

i won't want to contest your premises but i do think they are incorrectly assumed and stated to the point of being overly general to include permissible fraudulent practices such as the case being cited by frank, who must have spent many hours before being able to take apart and put back together to show what frauds being perpetrated by w in his $200 (?) a month chatroom....

PLUS about $300 (?) a month for leasing that fraudulent setup to trade....

which runs up the whole total to about $500 per month on false pretense....

most persons around him perhaps are not aware of frank's expose on his fraud, i would guess many would just cite personal reasons and leave.... just like several moderators before them, who just departed with uncertain terms....

now, brevco, would you still consider such deceitful practices...

to defraud close friends, personal assistants--almost all do not have credentials nor certifications to act as trading signal generators, biz associates such as pfg brokerage house et al and in particular his very own fee paying members who trust him and follow him...., even though after a month or two in the fee paid room, most members are still not yet able to duplicate what the moderators were claiming to attain--breakeven plus 1, target 1, target 2.... ;

as acceptable and tolerable and excusable in trading industry....?

well, really, personally, it does not make one iota difference to me at all, but i just still have some traders-friends there who are devoided of any of w's frauds.... perhaps, this is a good opportunity for them to become independent traders like many others before them....

brevco, what do you think?.... did he fully disclose....? (and again this is none of my biz neither! sorry, w)

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  #38 (permalink)
 brevco 
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I have been around the trading arena for somewhere in the neighborhood of 15 years. It took me about 5 years before I started seeing the similarities with different indicators (okay, okay, I am "slow" to catch on sometimes). I have also purchased several and made comparisons, and it wasn't until after I did this a few times that I realized what was happening.

No, I don't think deceitful practices are acceptable at all, but I decided to be cautious about buying indicators after that, and since I have no control to change what is being done, I let it go. My goal is to make money trading and if I find deceitful activity with a vendor, I can chose to avoid that vendor and perhaps share my findings with other unsuspecting traders and let them make their own decision. I can't control what they do or the decisions they make (and don't want to).

I am pretty good at research, and I accidentally ran across Woodies Bars on the internet. I downloaded them, set them up on my chart, and compared them to what I was using at the time (Better Renko). I was shocked to find the same signals. I have/had a friend who is a moderator for Woodies chat room. I told him about this and he was interested to see what I found so I sent him the screenshot and asked for his feedback. I have not heard back and this has been several weeks ago. Since I have not received a response from my "friend" I have no doubt Woodie knows about this by now. This moderator is loyal to Woodie, I'm sure.

I contacted PFG concerning another matter and happened to mention that I found Woodie's bars on the Internet and they were no different than what I was already using. I was told at that time I was not supposed to have them for free and was supposed to lease them for $199 per month (the $199 was just for Woodie bars and did not include the cost of the chat room for $99 per month ---- almost $300 per month total). So, yes, PFG has been aware of this for at least a month. The link where I found the Woodie bars has since been disabled.

There is more money to be made in selling webinars/seminars and indicators than actual trading. I used to plan/arrange corporate meetings. If a typical 2-day seminar costs about $1,000, with 25 attendees, that is $25,000. Let's say the average cost per attendee runs about $100 per person (if they include one or two meals), after covering costs, (meeting room, equipment rental, etc.), the vendor will make at LEAST $22,500, sometimes more. This does not include what they might make selling their indicators, books, DVD's, etc.. If they do two seminars a month, that's $45,000!! How many seminars would a vendor have to do to make a decent living? If they are a good instructor and offer ongoing support after the seminar, to me, it is worth the cost, and $1,000 is cheap compared to a lot of trading seminars.

I have heard it said many times that if someone cannot trade, they will teach. I personally know someone who was/is a local business radio personality who promoted trading seminars and taught at some of them. He charged $500 per person. When I asked him how long he had been trading, he admitted to me that he could NOT trade, but he could "teach" it. Do you think I shelled out my hard earned $500? All I can say is, at least he was honest!





nakachalet View Post
i won't want to contest your premises but i do think they are incorrectly assumed and stated to the point of being overly general to include permissible fraudulent practices such as the case being cited by frank, who must have spent many hours before being able to take apart and put back together to show what frauds being perpetrated by w in his $200 (?) a month chatroom....

PLUS about $300 (?) a month for leasing that fraudulent setup to trade....

which runs up the whole total to about $500 per month on false pretense....

most persons around him perhaps are not aware of frank's expose on his fraud, i would guess many would just cite personal reasons and leave.... just like several moderators before them, who just departed with uncertain terms....

now, brevco, would you still consider such deceitful practices...

to defraud close friends, personal assistants--almost all do not have credentials nor certifications to act as trading signal generators, biz associates such as pfg brokerage house et al and in particular his very own fee paying members who trust him and follow him...., even though after a month or two in the fee paid room, most members are still not yet able to duplicate what the moderators were claiming to attain--breakeven plus 1, target 1, target 2.... ;

as acceptable and tolerable and excusable in trading industry....?

well, really, personally, it does not make one iota difference to me at all, but i just still have some traders-friends there who are devoided of any of w's frauds.... perhaps, this is a good opportunity for them to become independent traders like many others before them....

brevco, what do you think?.... did he fully disclose....? (and again this is none of my biz neither! sorry, w)


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 nakachalet 
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brevco View Post
I have been around the trading arena for somewhere in the neighborhood of 15 years. It took me about 5 years before I started seeing the similarities with different indicators (okay, okay, I am "slow" to catch on sometimes). I have also purchased several and made comparisons, and it wasn't until after I did this a few times that I realized what was happening.

No, I don't think deceitful practices are acceptable at all, but I decided to be cautious about buying indicators after that, and since I have no control to change what is being done, I let it go. My goal is to make money trading and if I find deceitful activity with a vendor, I can chose to avoid that vendor and perhaps share my findings with other unsuspecting traders and let them make their own decision. I can't control what they do or the decisions they make (and don't want to).

I am pretty good at research, and I accidentally ran across Woodies Bars on the internet. I downloaded them, set them up on my chart, and compared them to what I was using at the time (Better Renko). I was shocked to find the same signals. I have/had a friend who is a moderator for Woodies chat room. I told him about this and he was interested to see what I found so I sent him the screenshot and asked for his feedback. I have not heard back and this has been several weeks ago. Since I have not received a response from my "friend" I have no doubt Woodie knows about this by now. This moderator is loyal to Woodie, I'm sure.

I contacted PFG concerning another matter and happened to mention that I found Woodie's bars on the Internet and they were no different than what I was already using. I was told at that time I was not supposed to have them for free and was supposed to lease them for $199 per month (the $199 was just for Woodie bars and did not include the cost of the chat room for $99 per month ---- almost $300 per month total). So, yes, PFG has been aware of this for at least a month. The link where I found the Woodie bars has since been disabled.

There is more money to be made in selling webinars/seminars and indicators than actual trading. I used to plan/arrange corporate meetings. If a typical 2-day seminar costs about $1,000, with 25 attendees, that is $25,000. Let's say the average cost per attendee runs about $100 per person (if they include one or two meals), after covering costs, (meeting room, equipment rental, etc.), the vendor will make at LEAST $22,500, sometimes more. This does not include what they might make selling their indicators, books, DVD's, etc.. If they do two seminars a month, that's $45,000!! How many seminars would a vendor have to do to make a decent living? If they are a good instructor and offer ongoing support after the seminar, to me, it is worth the cost, and $1,000 is cheap compared to a lot of trading seminars.

I have heard it said many times that if someone cannot trade, they will teach. I personally know someone who was/is a local business radio personality who promoted trading seminars and taught at some of them. He charged $500 per person. When I asked him how long he had been trading, he admitted to me that he could NOT trade, but he could "teach" it. Do you think I shelled out my hard earned $500? All I can say is, at least he was honest!

thx much for responding which is much appreciated.

a chatroom member just sent the following attachment which is self-revelation.

is it fraud or vendor ordinary?

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 aligator 
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brevco View Post

I am pretty good at research, and I accidentally ran across Woodies Bars on the internet. I downloaded them, set them up on my chart, and compared them to what I was using at the time (Better Renko). I was shocked to find the same signals. I have/had a friend who is a moderator for Woodies chat room. I told him about this and he was interested to see what I found so I sent him the screenshot and asked for his feedback. I have not heard back and this has been several weeks ago. Since I have not received a response from my "friend" I have no doubt Woodie knows about this by now. This moderator is loyal to Woodie, I'm sure.

Brevco,

I know who is your friend, and this friend has reasons to be loyal to w. Now that the scam has been discovered and is public, thanks to Frank, why don't you share the fraudulent and exposed "Median Renko Bares" file for public to see.

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 Jeff Castille 
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If post #29 is correct......the Woodies Bars are Median Renko bars.....NOT Better Renko.

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 aligator 
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Jeff Castille View Post
If post #29 is correct......the Woodies Bars are Median Renko bars.....NOT Better Renko.

Correct Jeff, thanks.

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 FrankFX 
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Hello

the bars he use are MedianRenko,
i tried BetterRenko, they come close but they didn´t match exactly.
If i understand the post of Big Mike here in this thread correct, then he asked him for Better Renko. If you go through the recorded webinar at the ICE he told he had developed those bars and they are derived form Point and Figure charts. So it took a while until i found out that this wasn`t true.
Now, i am banned from his free chat room for telling the truth about woodiesbars.

Frank

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 aligator 
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Here is a link where Woodie gives a seminar on Woodies Bars.

https://icewebinar.webex.com/ec0605ld/eventcenter/recording/recordAction.do;jsessionid=KJpcTLnX7kCyqpHTDLgSTHtTvTLlpkn3GfdfrvM8C4DC4hZmgw3D!-1525491393?theAction=poprecord&actname=%2Feventcenter%2Fframe%2Fg.do&actappname=ec0605ld&renewticket=0&renewticket=0&apiname=lsr.php&entappname=url0107ld&needFilter=false&&isurlact=true&rID=3946567&entactname=%2FnbrRecordingURL.do&rKey=c5b29d4a8a7475d3&recordID=3946567&siteurl=icewebinar&rnd=0429801718&SP=EC&AT=pb&format=short

He mentions that the bars were created by @roonius and that he had MicroTrends to make it Woodies Bars. He says he has more than 2 years of forward testing these bars before he actually introduced them in his room 3 months ago (from the date of seminar). He said that he was tired of giving his stuff away free and people stealing it and sell it on internet and now he charges for them. (note: CCI was created by Lambert and Median Renko bars by Roonius).

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 sharmas 
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Hi FrankFX

Is there any possibility of getting the chart template for this.Your set up looks fantastic

Thanking you.

SS

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 brevco 
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Aligator,

I had to think long and hard about how to best respond to your post without sounding like I am criticizing or condoning what has happened.

I think the answer to your suggestion is obvious....that would most certainly be asking for trouble and bring problems for Big Mike and the person who posted it. I value this community and appreciate what Big Mike has done, and contnues to do, for all of us. To do something like that would be disrepectful, and inconsiderate of Big Mike's hard work here.

FrankFx has already posted a screenshot of the Median Renko and ATR Channel showing the similarities, so that should be more than enough information for anyone to mimic the setup if they choose to do so.

It might take a little work to find those indicators, but anything worth having is "worth working for."

I used to follow Woodies room on a regular basis and I enjoyed learning from him. For years, Woodie gave away all his work for free and many of us took advantage of that education. For whatever reason, he decided to start charging and that is his right to do so. (For those of us who live in the US, doesn't this sound very similar to some of our "entitlement" programs? Everyone is happy as long as they get things for "free" and the minute it is taken away......)


Someone mentioned that Woodie said roonius originated the bars he is using. If that is true, and if Woodie communicated with roonius, then the proprietary issue should be between roonius and Woodie.

We have no control over what someone else does, only what we do. Last time I checked, this is still a free country and we still have choices.

For me, I choose to get back to the business of trading.


As for my friend, I am happy for him. He is a good person and I have known him many years. He has chosen to support Woodie to show his appreciation for everything Woodie has done for him and I respect his choice.

Last but not least, thank you, Big Mike, for creataing this forum for all serious traders to continue learning and sharing with each other.





aligator View Post
Brevco,

I know who is your friend, and this friend has reasons to be loyal to w. Now that the scam has been discovered and is public, thanks to Frank, why don't you share the fraudulent and exposed "Median Renko Bares" file for public to see.


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 woodie 
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Yes i talked to roonius and told him as well as Big Mike that i would give him reconigtion. which i did for my only public presentation. it was ok'd by him...yes cci was develop by Don Lambert and i never said it was not In fact Don spoke at many of my seminars and gave me all his work he done on CCI...however the way the CCI was traded was totally different then the lambert way..i also added the turbo 6 cci which many people renamed different names including some on this board. there are posts here that are copies of my work and renamed but i never said a word even tho some are copyrighted infringments. i think mike has done a great job here and no reason for petty things. i have always given credit to others work as much as i want credit for my work...there are some who are jealous at what we do and no matter what i do they will try to knock us down...including one who spread all over the internet that we did this etc and all because i threw him out of the room, it turned out he bilked many traders for more than 21 million dollars and is in fed prison for the next 26 years. for 11 years my room was free for all until we found 3 people selling my cci system by changing the name of the patterns...hell my free cci document which is free on my web site was sold on ebay for $25 dollars...i could on and on..best of trading to you all

woodie

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 nakachalet 
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woodie View Post
Yes i talked to roonius and told him as well as Big Mike that i would give him reconigtion. which i did for my only public presentation. it was ok'd by him...yes cci was develop by Don Lambert and i never said it was not In fact Don spoke at many of my seminars and gave me all his work he done on CCI...however the way the CCI was traded was totally different then the lambert way..i also added the turbo 6 cci which many people renamed different names including some on this board. there are posts here that are copies of my work and renamed but i never said a word even tho some are copyrighted infringments. i think mike has done a great job here and no reason for petty things. i have always given credit to others work as much as i want credit for my work...there are some who are jealous at what we do and no matter what i do they will try to knock us down...including one who spread all over the internet that we did this etc and all because i threw him out of the room, it turned out he bilked many traders for more than 21 million dollars and is in fed prison for the next 26 years. for 11 years my room was free for all until we found 3 people selling my cci system by changing the name of the patterns...hell my free cci document which is free on my web site was sold on ebay for $25 dollars...i could on and on..best of trading to you all

woodie

woodie,

did you know that i was your most stout defender on board here?

if you have any doubt, check numerous posts in your defense against those who for many many public and professional reasons wanted to list woodies cci chat room in the blacklist. in the finality of thing, i lost out and you are blacklisted last month.

for numerous reasons, i defended your philosophy of traders helping traders; defended your way of imparting wcci to newbies--the terminology that you and other moderators like to describe someone who is new to your chatroom without really knowing the person's trading repertoire; defended many moderators whom i became personal friends with during my newbie days in your room; among several others....

as i stated numerous times before that i absolutely have no biz nor personal interest whatever in your organization. isn't that correct, woodie?

(1) now, woodie, whom i admire in so many different ways; why on earth would you want to change what has been very successful for you for 11 years....? why, woodie?

once upon a time, not too long ago, there were about 100 wannabe traders in your free chatroom, and even before that, your free chatroom was filled to capacity with around 500 to 700 wannabes while t.... was still moderating early in the morning;

then, you could have asked for a general donation of 100 each, many would be glad to contribute to support you personally or otherwise, which would have easily been sufficient for anyone to live a comfortable life style with about 50k a month, woodie....

(2) i also personally knew several of your both present and former mods, and several others who refused to moderate any longer. i am quite certain that you personally realized that those are successful traders on their own merits. should i or should i not tell you in public among members of et, the reasons those successful traders' refusal to continue to mod....? but i rather hear your side of the story, if you please, woodie. you are under no indictment, ok. just a friendly dialogue to clear things up among long time traders, friends and foes alike, ok?

(3) for now, woodie, why would you want to change from a very popular learning to trade center, wcci, to $100 (?) a month chat room? as you knew very well, there is not even one state qualified nor certified financial advisor/broker calling live signals for the live trading room, regardless of what one may want to call that room? just how long do you figure you could get away with such arrangement among traders bursting with energy and inquisitiveness....?

(4) changing from a free learning to trade center to a fee paid center is not as expeditious as changing your stand and trading philosophy from--who needs the damned price action chart....? wcci is all every trader needs....! remember, just not too long ago, you condemned your mods and followers who would dare to mention or suggest using price chart....!

but just recently, you practically condemned yourself by proudly showing off price chart prominently on your trading panel....! and on top of everything else, you and a few others decided to charge $200 (?) a piece from your faithful followers to lease YOUR CHART.... so they can see the chart on their own screens....

(5) woodie, as a trader yourself, could you tell us in your own words and in your own way, what's gone so very wrong in such a short period of time, please....?

(6) i purposely ask you this question so to give you another chance to come clean among professional traders as to what actually happened?

but it is up to you whether or not to respond.... to help many of us to better understand you as a trader, ok, woodie?

however, if you decide to brush everything aside and to try to explain everything away, as if nothing has happened; as you obviously were trying to do in your response above; then perhaps, it is best not to bother to respond at all, OK? it is your last chance to come clean, woodie.

most importantly, you are under no duress nor pressure of any sort or kind to respond or not to respond at all, OK, woodie?

with all due respect. and i also want you to know i find it very difficult to ask you so many questions like the above. so sorry woodie.

still a newbie--in underground andaman cave

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 aligator 
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brevco View Post

I had to think long and hard about how to best respond to your post without sounding like I am criticizing or condoning what has happened.

It might take a little work to find those indicators, but anything worth having is "worth working for."

Brevco,

Your note is a little different from the intent of the statement above. Regardless, like many others I spent some time following Woodie trading WCCI and respecting his insistence that "we don't need no stinky candle bars" since CCI is a momentum and leading indicator. In fact, some who talked about candles or support and resistant levels were kicked out because they were "confusing others." We all know there is only one single indicator out there that can tell you the real story, and that is the price action.

Nevertheless, all those who left WCCI room either lost their account or died. Otherwise, why would you want to leave when you a are making money. I left because after 32 years trading I could not believe that price did not matter, but I was willing to give his "revolutionary" method a try on the side. I never heard one person saying that he made money trading wcci in the room. Now, suddenly, the "revolutionary" indicator is abandoned for another revolutionary "flatfoots" and Median Renko bars based on price action. Wish he had not rename these bars after himself and he could still charge for the template (like C. Kase naming Range bars after her own as Kase Bars)

Median Renko indy by Roonius is public and available on futures.io (formerly BMT), so there is no need to pirate it from TN, NT, MT, or even search for it.

For all I care is I learned one thing from Woodie that was worth being in his room, "You need to get rid of things that make you loose." So, thanks Woodie!

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 Jeff Castille 
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I think this is very interesting........you have two vendors (Roger Felton and Ken Wood)........they both discover futures.io (formerly BMT).......they both discover new price bars that futures.io (formerly BMT) members have invented. One takes the new price bars....puts his name on them and tries to sell them ( Woodie/Median Renko/Woodie Bars) and the other (Roger Felton/better line break/better renko) in a gesture of appreciation to the forum gives away several proprietary indicators to the elite members of the forum and conducts free webinars.

Striking contrast......

Go figure.........

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 FrankFX 
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Here in the attachments you can see what indicator woodie uses and how he named them.
If you take a look at the chart on the right it is easy to spot from where they are derived from.

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 cory 
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for most newbie wcci forum is a wealth of information and people feel a sense of gratitude for all of free stuff. Even when these newbies turn into seasonal traders they still refuse to consider there is another shade of truth, make me think of Thomas "Tom" Feargal Hagen.

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 Jeff Castille 
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FrankFX View Post
Here in the attachments you can see what indicator woodie uses and how he named them.
If you take a look at the chart on the right it is easy to spot from where they are derived from.


Frank.....where did you get the MicroTrend Bands?

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 FrankFX 
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@Jeff

I cannot share the code because i don't have it.

These bands are the ones that woodie uses that's for sure and i purchased them for $9,95 in June here:

NinjaTrader Indicator - ATR Volatility Bands

Owing to the influence of inflation they are now about $49,99

Woodie calls them CCI-Bands, but i have heard they were derived from Keltner Channel, but i am not a programmer/coder. But i think CCI-Bands sounds better for his business-model.

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 Jeff Castille 
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They actually look very similiar to Roger Feltons Bands......in the elite downloads.

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 aligator 
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cory View Post
for most newbie wcci forum is a wealth of information and people feel a sense of gratitude for all of free stuff. Even when these newbies turn into seasonal traders they still refuse to consider there is another shade of truth, make me think of Thomas "Tom" Feargal Hagen.

Cory,

"The truth screams. If one can not hear it, one must be either deaf, ignorant, or has a motive."

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 FrankFX 
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@Jeff

I found something in MicroTrend Forum that looks like a code at least to me
For me i can only look into a code and change colors. Maybe it is a snippet with that you can build the one you are looking for?

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 Jeff Castille 
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FrankFX View Post
@ Jeff

I found something in MicroTrend Forum that looks like a code at least to me
For me i can only look into a code and change colors. Maybe it is a snippet with that you can build the one you are looking for?

Hey Frank,

My programming skills are the same as yours......lol....

Could you post this in the "Create My Indicator Free" thread? Perhaps one of our futures.io (formerly BMT) programmers will create the indicator for us.

Thanks, Jeff

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 nakachalet 
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FrankFX View Post
@ Jeff

I cannot share the code because i don't have it.

These bands are the ones that woodie uses that's for sure and i purchased them for $9,95 in June here:

NinjaTrader Indicator - ATR Volatility Bands

Owing to the influence of inflation they are now about $49,99

Woodie calls them CCI-Bands, but i have heard they were derived from Keltner Channel, but i am not a programmer/coder. But i think CCI-Bands sounds better for his business-model.

frank

you are so relentlessly persuasive.

pls do remember to give yourself a nice break, ok?

we are all very grateful and becoming even more reliant on you now and surely do not wish to see you physically nor emotionally weaken by this episode, K? my very best, frank.

however, personally i fail to see much significant application in the NinjaTrader Indicator - ATR Volatility Bands for $50, in comparison to other free trading bands available also at bg....

very sorry, that is my personal opinion which might mean practically zip for others. L O L

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 Big Mike 
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nakachalet View Post
frank

you are so relentlessly persuasive.

pls do remember to give yourself a nice break, ok?

we are all very grateful and becoming even more reliant on you now and surely do not wish to see you physically nor emotionally weaken by this episode, K? my very best, frank.

This type of post is not welcome here, don't do it again. If you have a problem with a user, use the ignore user feature. If you feel a post violates our guidelines, use the report post feature.

Mike

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 nakachalet 
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Big Mike View Post
This type of post is not welcome here, don't do it again. If you have a problem with a user, use the ignore user feature. If you feel a post violates our guidelines, use the report post feature.

Mike

mike

i am truly surprise at your quick action contrary to your good natured person.

without having to contradict you nor pointing out other obvious.... particularly written exchanges between frank and myself appearing on public record here--which obviously slipped by your scrutiny for some unknown reasons.

why not we allow frankfx himself to decide whether or not this poster is doing anything derogatory to his good name and excellent efforts to date.... is that alright with you, mike?

i am certain within the next several hours, he will read my post and tell everyone here what his read is concerning my last post about his work appearing above which you indicted, i believe, erroneously and unwittingly....

and there won't be any need to apologize either, for during my three scores and practically ten years.... i have been unintentionally accused of much worse by numerous others power brokers....

cheers, mike, and keep up the good and exemplary work, so very valuable for wannabe and experienced traders alike....

and mike, for your benefit, i shall refrain from posting any further, until frank returns his verdict.... K? bye, everyone.

one last most important perplexity--what makes you come to the conclusion that i have any issue with frankfx whom i personally and publicly admire immensely for his insight and tireless effort for everyone else benefits....?

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 Big Mike 
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Your post struck me as rude because I thought it was sarcastic and mocking. If you were not intending sarcasm, then my apologies.

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 nakachalet 
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FrankFX View Post
Here in the attachments you can see what indicator woodie uses and how he named them.
If you take a look at the chart on the right it is easy to spot from where they are derived from.

hi frank

just want you to know, your discovery post on woodiesbar fraud has been deleted from traders laboratory database....

am truly amazed what good would such deletion do? were they trying to cover up for woodie's fraud?

it would never work at this time and age.... pretty soon someone will post your discovery on youtube on woodies' fraudulent claims and practices....

stay happy and healthy, K? later

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 Fat Tails 
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FrankFX View Post
@ Jeff

I cannot share the code because i don't have it.

These bands are the ones that woodie uses that's for sure and i purchased them for $9,95 in June here:

NinjaTrader Indicator - ATR Volatility Bands

Owing to the influence of inflation they are now about $49,99

Woodie calls them CCI-Bands, but i have heard they were derived from Keltner Channel, but i am not a programmer/coder. But i think CCI-Bands sounds better for his business-model.

These bands are just a joke. Adds the ATR and subtracts the ATR from price. There is little added value in this indicator and it is too expensive. Just has some unnecessary bells and whistles.

If you use a traditional Keltner Channel with period N, it adds and subtracts a multiple of the average range(N) to the SMA (N). This indicator adds and subtracts a multiple of the average true range to the SMA(1).

(1) You can use the Universal Keltner Channel with parameter settings (SMA, EMA, 1, 1, 4, TrueRange, True). It is close to identical, just the smoothing uses a period 3, where as the smoothing period of the ATR volatility bands it set to 5.

(2) You can code it in 5 minutes as a variation of a Keltner Channel. An example is attached below. Of course I do not know the exact settings and moving averages they used. The smooth appearance of the bands requires Renko bars.

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 trs3042 
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Fat Tails View Post
These bands are just a joke. Adds the ATR and subtracts the ATR from price. There is little added value in this indicator and it is too expensive. Just has some unnecessary bells and whistles.

If you use a traditional Keltner Channel with period N, it adds and subtracts a multiple of the average range(N) to the SMA (N). This indicator adds and subtracts a multiple of the average true range to the SMA(1).

(1) You can use the Universal Keltner Channel with parameter settings (SMA, EMA, 1, 1, 4, TrueRange, True). It is close to identical, just the smoothing uses a period 3, where as the smoothing period of the ATR volatility bands it set to 5.

(2) You can code it in 5 minutes as a variation of a Keltner Channel. Code attached below.

Hello @Fat Tails,

Have you coded this and posted it somewhere??? I don't see the attached code.......or am I missing something???

TIA,

Rick

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 Fat Tails 
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trs3042 View Post
Hello @ Fat Tails,

Have you coded this and posted it somewhere??? I don't see the attached code.......or am I missing something???

TIA,

Rick

I was just modifying the code while you posted.

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Fat Tails View Post
I was just modifying the code while you posted.

Thanks!!! Your AWESOME!!!

Rick

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nakachalet View Post
mike

i am truly surprise at your quick action contrary to your good natured person.

without having to contradict you nor pointing out other obvious.... particularly written exchanges between frank and myself appearing on public record here--which obviously slipped by your scrutiny for some unknown reasons.

why not we allow frankfx himself to decide whether or not this poster is doing anything derogatory to his good name and excellent efforts to date.... is that alright with you, mike?

i am certain within the next several hours, he will read my post and tell everyone here what his read is concerning my last post about his work appearing above which you indicted, i believe, erroneously and unwittingly....

and there won't be any need to apologize either, for during my three scores and practically ten years.... i have been unintentionally accused of much worse by numerous others power brokers....

cheers, mike, and keep up the good and exemplary work, so very valuable for wannabe and experienced traders alike....

and mike, for your benefit, i shall refrain from posting any further, until frank returns his verdict.... K? bye, everyone.

one last most important perplexity--what makes you come to the conclusion that i have any issue with frankfx whom i personally and publicly admire immensely for his insight and tireless effort for everyone else benefits....?

@ BigMike

there's nothing wrong in post of nakachalet adressed to me, i know him well. No sarcasm in there for sure.


nakachalet View Post
hi frank

just want you to know, your discovery post on woodiesbar fraud has been deleted from traders laboratory database....

am truly amazed what good would such deletion do? were they trying to cover up for woodie's fraud?

it would never work at this time and age.... pretty soon someone will post your discovery on youtube on woodies' fraudulent claims and practices....

stay happy and healthy, K? later

Nakachalet, i don't know what is going on in other forums on this topic except elitetrader. I have never made a post at the mentioned forum and i don't have an account there. And for me there is no need to it. futures.io (formerly BMT) is all i need. "You need to get rid of those things that make you loose." To stay away from woodiescciclub and join here was one of my best decision to improve my trading.

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 Big Mike 
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My mistake, and my apologies.

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 FrankFX 
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Hello FatTails

thanks for your work on this. Your bands don't match the CCI Bands developed by woodie exactly. The one who will use them in his room will be banned.

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 Fat Tails 
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FrankFX View Post
Hello FatTails

thanks for your work on this. Your bands don't match the CCI Bands developed by woodie exactly. The one who will use them in his room will be banned.

I do not have Woodie's indicator, so I cannot make comparisons here. I am only trying to make an educated guess of what I am seeing on your charts.

Here is are two other versions, which may already come closer to the bands than the first one.

Let us have some fun with the bands.

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 FrankFX 
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@ FatTails

i can't help you out with trying and coding because i have absolutely no programming skills.
Wasn't that a code, or not a comlete one, i posted yesterday?

I have put those bands around your yesterday oil chart.

Frank

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 Fat Tails 
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FrankFX View Post
@ FatTails

i can't help you out with trying and coding because i have absolutely no programming skills.
Wasn't that a code, or not a comlete one, i posted yesterday?

I have put those bands around your yesterday oil chart.

Frank

@ FrankFX:

I did not even notice that you had posted the code. That makes it easy to produce something similar.

Have attached an indicator, which is a bit simpler, but will come close.

It uses a weighted moving average (WMA) for smoothing. Both input and ATR are smoothed.

Finally it is more a matter of taste, which one you prefer to use.

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 FrankFX 
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@FatTail,

Great, just incredible.
On one chart are your bands on the other woodies. Can you name it?
I can't see any differences.

THANK YOU

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 trs3042 
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FrankFX View Post
@FatTail,

Great, just incredible.
On one chart are your bands on the other woodies. Can you name it?
I can't see any differences.

THANK YOU

Hello @FrankFX,

Thank you for sharing this concept. Could you please post a template of your chart??? I like the way you have it setup.

TIA,

Rick

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 woodie 
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great to see so many here interested in my CCI ..using the CCI correctly will help your trading for sure

woodie

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 FrankFX 
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Hello @ FrankFX,

Thank you for sharing this concept. Could you please post a template of your chart??? I like the way you have it setup.

TIA,

Rick

Hi,

attached is the template file. Is it just that what you are looking for or do you need the whole bunch of indicators?

Let me know if it works out for you

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 trs3042 
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FrankFX View Post
Hi,

attached is the template file. Is it just that what you are looking for or do you need the whole bunch of indicators?

Let me know if it works out for you

Thanks Frank. PERFECT!!!

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 MWinfrey 
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I've been a fan of the cci for a very long time whether it's Woodies version or just the plain ole vanilla version that comes with NT. I'm using the one that comes with NT and have been for quite a while. Really don't need a lot of bells and whistles imo.

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 Fat Tails 
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MWinfrey View Post
I've been a fan of the cci for a very long time whether it's Woodies version or just the plain ole vanilla version that comes with NT. I'm using the one that comes with NT and have been for quite a while. Really don't need a lot of bells and whistles imo.

This thread is deviating, it was originally on Renko Bar Types.

But I always enjoy deviations, so let me add one more: There are two intesting indicator based exclusively on the CCI.
One is the trader's dynamic index, the other one is the CFG Momentum Ocsillator (as Andrew Cardwell calls it) or Composite Index (as Constance Brown calls it). The formula for the Composite Index has been published in a book, the formula for the CFG Momentum Oscillator is under Copyright protection. They are the same.

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 MWinfrey 
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yep...you be right fattails...so easily distracted we are...

I noticed something about the BetterRenko the other day and brought it to the attention of aslan but he is no longer supporting it on NT. The BR uses the modulus function to round the close of the bar to the same divisor as the number of ticks. So, in other words, I use a 10 tick BR brick and the BR makes the close in multiples of 10 ticks. I think this occurs on the first bar of each session and as long as you get 10 ticks movement your bricks will close on multiples of 10 ticks. I hope I've described this well enough. Also, the last bar of the session is truncated so the first bar of the session is a complete bar. Both of these attributes attempt to ensure your price patterns for each day remain consistent from day to day. That way, when you look at your live chart today and see a pattern, it will be there in the same place exactly the same way when loading historic data. As a backtester, this is very nice to be able to reproduce a days results each and every time I bring up a chart.

However, I noticed differences at times that puzzled me. The brick on historic data does not at times break at the multiples of 10. I've never seen this happen on the current day but scrolling back I see this occur. I've never encountered this when using a session template of Default 24/7. I trade CL and use Nymex Metals / Energy ETH session template. I spent a bit of time trying to figure this out but did not come up with a fix. So, thought I'd mention it in case it's of interest to anyone else. BTW, I'm not talking about the occasional missing of the multiple but an every bar occurence that finally fixes itself.

Take a look at the attached chart and you'll see what I mean. Those horizontal gridlines are spaced 10 ticks apart and the bricks should open and close on those gridlines the vast majority of the time. But as you see, they don't.

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 Big Mike 
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 nakachalet 
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woodie View Post
great to see so many here interested in my CCI ..using the CCI correctly will help your trading for sure

woodie

woodie:

inasmuch as you like to continuously claim ownership from others' hard work and sweat....;

the cci is not yours by any long shot....

neither is a's intellectual property--ranko, m-ranko et cetera.... yours....

on post #48, there are a few questions for you to come clean, care to address those questions first?

imho, it is a disgrace and dishonor to yourself, if you continue to use the term--woodiebar or the like....

be good and me wish you well.... woodie

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 nakachalet 
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withdrawing my personal comments. wish i know where the delete button is.... sorry everyone.

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 aligator 
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MedianRenko_NT7 does not seem to run on NT 7.0.1000.7 (no bars plotted). Anyone else has same experience? I was ok with previous versions of NT7.

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 TheWizard 
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aligator View Post
MedianRenko_NT7 does not seem to run on NT 7.0.1000.7 (no bars plotted). Anyone else has same experience? I was ok with previous versions of NT7.

Aligator,

After NT 7 came out, I noticed that, as well. I contacted Rjay and he was kind enough to convert the old MedianRenko from NT6.5 to NT7 for me. I have attached it for you and anyone else who has an interest in it.

You need to MANUALLY move the MedianRenko_NT7.cs file into your TYPE folder (Documents>NinjaTrader7>Bin>Custom>Type), then shutdown NinjaTrader and Restart NinjaTrader.

After that, it will appear in your DataSeries list of bar types, along with Tick, Minute, Range, etc.

Enjoy!

P.S. I forgot to mention, after Rjay introduced RenkoHybrid, this year, I switched from MedianRenko in favor of his new bar type, which is far superior to the old MedianRenko.

After all, it's what you learn AFTER you know it all, that counts!
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 trs3042 
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aligator View Post
MedianRenko_NT7 does not seem to run on NT 7.0.1000.7 (no bars plotted). Anyone else has same experience? I was ok with previous versions of NT7.

FYI

I'm using MedianRenko on NT 7.0.1000.7 and it works fine.

Rick

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 TradeWind 
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TheWizard View Post
Aligator,

After NT 7 came out, I noticed that, as well. I contacted Rjay and he was kind enough to convert the old MedianRenko from NT6.5 to NT7 for me. I have attached it for you and anyone else who has an interest in it.

You need to MANUALLY move the MedianRenko_NT7.cs file into your TYPE folder (Documents>NinjaTrader7>Bin>Custom>Type), then shutdown NinjaTrader and Restart NinjaTrader.

After that, it will appear in your DataSeries list of bar types, along with Tick, Minute, Range, etc.

Enjoy!

P.S. I forgot to mention, after Rjay introduced RenkoHybrid, this year, I switched from MedianRenko in favor of his new bar type, which is far superior to the old MedianRenko.



Hey Wiz,
I'm new in this forum and futures.io (formerly BMT). Have just finished reading this thread, thank you for your relentless sharing and contribution.
I could not figure out how the renko bars are built, as it is the same number of ticks on each bar, but not all bars are of same range or height. Can you please advice?
Thank you.
TW

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 yusaf 
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Hi guys,

where can I find the download link for the latest Better renko indi.

Thanks in advance

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 yusaf 
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TradeWind View Post
Hey Wiz,
I'm new in this forum and futures.io (formerly BMT). Have just finished reading this thread, thank you for your relentless sharing and contribution.
I could not figure out how the renko bars are built, as it is the same number of ticks on each bar, but not all bars are of same range or height. Can you please advice?
Thank you.
TW

search for "renko vs range" on futures.io (formerly BMT). you will have better idea of how they are calculated.

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 trs3042 
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yusaf View Post
Hi guys,

where can I find the download link for the latest Better renko indi.

Thanks in advance

Here you go..........



Rick

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 kronie 
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cory View Post
yes betterrenko with betterbrick style but then again its just one man opinion asking for a winner is like asking who is the best looking in miss universe contest.


so wat really is Wicked Renko?

how does that compare with Range_No_Gap, or Better_Renko?

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 TradeWind 
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yusaf View Post
search for "renko vs range" on futures.io (formerly BMT). you will have better idea of how they are calculated.


Thank you Yusaf, now I have a better understanding.

TW

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 TheWizard 
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TradeWind View Post
Hey Wiz,
I'm new in this forum and futures.io (formerly BMT). Have just finished reading this thread, thank you for your relentless sharing and contribution.
I could not figure out how the renko bars are built, as it is the same number of ticks on each bar, but not all bars are of same range or height. Can you please advice?
Thank you.
TW

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.

After all, it's what you learn AFTER you know it all, that counts!
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 mea109 
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I have imported the following custom bar types :
- MedianRenko
- NoGapRange
- BetterRenko

BetterRenko does not appear on my list so that I'm able to select it. Are there known assigment conflicts ?

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 DavidHP 
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I don't use these but one of them apparently conflicts with one of the other custom bar types you have loaded.

The bar 'space' is reserved in the code under the name:
 
Code
base(PeriodType.XXX)
The XXX in your bar types will have one of the following Custom0 - Custom9 or Final0 - Final4
There can only be ONE bar type with each Custom or Final name.
Check each bar type and see which one is duplicated and change it to one not used.
Then Compile something and restart NT.



mea109 View Post
I have imported the following custom bar types :
- MedianRenko
- NoGapRange
- BetterRenko
BetterRenko does not appear on my list so that I'm able to select it. Are there known assigment conflicts ?


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 mea109 
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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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 TradeWind 
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DavidHP View Post
I don't use these but one of them apparently conflicts with one of the other custom bar types you have loaded.

The bar 'space' is reserved in the code under the name:
 
Code
base(PeriodType.XXX)
The XXX in your bar types will have one of the following Custom0 - Custom9 or Final0 - Final4
There can only be ONE bar type with each Custom or Final name.
Check each bar type and see which one is duplicated and change it to one not used.
Then Compile something and restart NT.


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

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 RJay 
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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 ?!

Hi mea109,

Right click on folder "Type" and search for string in files the following string - PeriodType.Custom4

Post results.

RJay

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