I thought I had found the holy grail with renko bars (yes, I know it doesn't exist but it's still nice to believe,....like Santa Claus ). Running backtests on historical data with standard Renko charts is fairly easy to make a extremely profitable system. Then I realised that my system actually wasn't so great because historical Renko bars not display the intrabar movement which therefore affects the accuracy of the backtest results.
I now realise this is fairly common knowledge, but when I first discovered renko bars I started having dreams of sandy beaches, cocktails, and my automated system churning out non stop profits. Oh well, if it was that easy, everyone would be doing it.
I still have high hopes for renko bars though (or rather better renko).
Where did you get it, since it is available only for Elite Members for NinjaTrader platform by the request of the author -- and you aren't an Elite Member... ?
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I don't have them personally, But from what i hear from other people who used them is that they better than regular renko. I use to know someone who i'd trade with who used renko a while ago. I'm contemplating getting a membership solely for those bars and feedback now that i know they are used on more than one platform.
Last edited by Itchymoku; May 8th, 2012 at 05:32 PM.