Has anyone heard of a time based range bar. It plots a range but will only plot if a # of seconds has passed. So If a 4 range with a 10 sec. min is what you want. It would plot a range of 4, but it could be more if a move more than 4 happened in 10 sec. I read about this somewhere and now I can't find it. The benefit is that you can visually see a fast move and the min time can allow you time to get in. Especially when you look at charts to check new indicators.
It looks to me that you have a good idea. I find that the SbSRenko 3 range lag about 30-45 sec (OBC) compared to the regular 3 range bar when it comes to changes from long to short etc. So it might be better suited to 5-7 range indy use.
I am trying to figure out the difference between the different Renko bars on futures.io (formerly BMT) to figure out which one to use.
There seem to be three favorites:
(1) MedianRenko: No longer supported by roonius because some issue with odd brick size.
(2) SbsRenko: roonious seems to support these
(3) WICKedRenko: aslan owns this; resets on session open
All three will show the wicks. The WICKed Renko also shows correct volume. However it is not clear where they differ.
Is there a summary post somewhere? Some specifics I am looking for are:
(1) (a) Do these bars works properly with NT's backtesting infrastructure?
(1) (b) Has anyone tried a multi-time-frame backtesting with these bars (say a sampling bar which works samples at a higher rate)
(2) Has anyone run live strategies with these bars? Any caveats?
To my knowledge, the only one that works in backtesting is WickedRenko. The others cannot be backtested properly. BTW, that goes for built-in Renko in NT7 as well --- cannot be backtested properly.
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