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Basics of SbS Renko charting needed
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Basics of SbS Renko charting needed

  #11 (permalink)
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hi....I was wondering if there is such thing as SbSRenko counter.......how do you guys anticipate new bar?......thanks..

EDIT: ..ok, I think I got it.......i was too quick to post and not enough focused to read previous posts.......


Last edited by zikonc; January 21st, 2010 at 10:17 PM.
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  #12 (permalink)
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cunparis View Post
I see more bars with sbs renko and I don't know why.

Here's an example. Both are set to 3 ticks, top is renko and bottom is sbs renko.

I'm still hoping for an explanation here. In the mean time I'm using minute/tick charts. I find they show the micro s/r levels which can give me earlier entries.

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  #13 (permalink)
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cunparis View Post
I'm still hoping for an explanation here. In the mean time I'm using minute/tick charts. I find they show the micro s/r levels which can give me earlier entries.

I have same amount of bars.

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  #14 (permalink)
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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.

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roonius View Post
I have same amount of bars.

Me too. I was mistaken because of two things:

1 - the bar spacing is different
2 - the renkos don't show all the price movements so on reversals it looks like sbs has an extra bar but really sbs is just showing you what the renko was hiding.

Thanks for taking the time to do the comparison, I appreciate it.

I'm really liking renko for looking at longer term S&R levels and divergences, and I like tick/minute for entering on a small HH or LL.

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  #16 (permalink)
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Cunparis,

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.

TJ

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  #17 (permalink)
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tradersink View Post
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.

Did you find what you were seeking?

Tks

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  #18 (permalink)
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Many Thanks Mike,

I was wondering if anybody has tested SbsRenko in NT7. The download area comments are saying it hasn't been tested. I'm quite enjoying WikedRenko and curious to see the patterns Sbs shows.

Thanks,


Big Mike View Post
BTW, the SbsRenko indicator and ChartStyle are available for download here:
Downloads - NinjaTrader 6.5 Miscellaneous - SbSRenko (Side by Side) - Big Mike's Day Trading Forum

Mike


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  #19 (permalink)
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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?

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  #20 (permalink)
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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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