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UniRenko, Universal Renko Bar Type
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UniRenko, Universal Renko Bar Type

  #121 (permalink)
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I've had the same problem too...

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  #122 (permalink)
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Can anyone please point me to any good resources (articles, Forum topics, books, whatever) to help me get an understanding of the differences between trading Renko bars (Universal and/or otherwise) and time/tick based candles, please? I'm particularly interested in how to choose appropriate settings, and how existing trading techniques might need to be modified (particularly for scalping FX).

Thanks, Max

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maxr View Post
Can anyone please point me to any good resources (articles, Forum topics, books, whatever) to help me get an understanding of the differences between trading Renko bars (Universal and/or otherwise) and time/tick based candles, please? I'm particularly interested in how to choose appropriate settings, and how existing trading techniques might need to be modified (particularly for scalping FX).

Thanks, Max

Chart Types

but my advice to you, do not get exotic types of price, they will not give you an advantage, as they do not look nice
interaval time will give you an accurate assessment of the volume in the current time, but then you have to trade in currency futures

* If investing gets too difficult for a seventh grader to understand, the system is needlessly complex
* Markets produce an enormous volume of information, much of which is redundant
* In every game and con there's always an opponent, and there's always a victim. The trick is to know when you're the latter, so you can become the former

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Little Bug?


Silvester17 View Post
@2010,

I've done this a while back.

@monpere, please let me know if you don't like your indicators modified and I'll delete this version.

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Hello Sylvester,

Thanks for this neat little indicator. Very useful for anticipating entry. It doesn't seem to like the Japanese Yen (6J) though. Current price for the Yen is around 0.010415 and both the high and the low are displaying 1E-02.

HighDesertTrader

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  #125 (permalink)
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Uni Renko Code

Is it possible to take out the name Uni Renko name in the zip file?

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Display Format Fix for Japanese Yen


HighDesertTrader View Post
Hello Sylvester,

Thanks for this neat little indicator. Very useful for anticipating entry. It doesn't seem to like the Japanese Yen (6J) though. Current price for the Yen is around 0.010415 and both the high and the low are displaying 1E-02.

HighDesertTrader

Everyone:

I have fixed the formatting problem for the price display for the Japanese Yen (6J). This new version of UniRenkoBarCloseV2 previously submitted by Sylvester is called UniRenkoBarCloseV2PF to emphasize that a slight modification of the Price Formatting has been made. While this new "PF" version will work for all Instruments, it does add more significant figures (trailing zeros) than is needed and is recommended only for the Yen. Someone with more experience than I with price formatting should look into the original indicator and see if a formatting method can be found that covers all Instruments.

HDT

Attached Files
Register to download File Type: zip UniRenkoBarCloseV2PF.zip (2.3 KB, 231 views)
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  #127 (permalink)
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HighDesertTrader View Post
Someone with more experience than I with price formatting should look into the original indicator and see if a formatting method can be found that covers all Instruments.

HDT

You can probably look at one of @Fat Tails recent session indicators for examples, if memory serves he basically tests for all known formatting types and then formats accordingly. There isn't a single line of code or expression that works universally -- but he and others can confirm.

Mike

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  #128 (permalink)
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HighDesertTrader View Post
Everyone:

I have fixed the formatting problem for the price display for the Japanese Yen (6J). This new version of UniRenkoBarCloseV2 previously submitted by Sylvester is called UniRenkoBarCloseV2PF to emphasize that a slight modification of the Price Formatting has been made. While this new "PF" version will work for all Instruments, it does add more significant figures (trailing zeros) than is needed and is recommended only for the Yen. Someone with more experience than I with price formatting should look into the original indicator and see if a formatting method can be found that covers all Instruments.

HDT


All I did was to remove the formatting and it works just fine, on all instruments. Simply change these two lines by eliminating the formatting variable within the .ToString()

DrawText("nxtBarUp", false, " ---- " +nextBarUp.ToString(), 0, nextBarUp, 0, textColor1, textFont, StringAlignment.Near, Color.Empty, Color.Empty, 0);

DrawText("nxtBarDn", false, " ---- " +nextBarDn.ToString(), 0, nextBarDn, 0, textColor2, textFont, StringAlignment.Near, Color.Empty, Color.Empty, 0);

You may want to change the right side margin a bit depending on your font size and instrument.

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  #129 (permalink)
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What moving average is in the picture you had shared, the cyan and red lines ? Thanks




plethora View Post
I'm very new to options, too. This book has been great: Option Greeks in Plain English: Mastery in Under 60 Minutes By Steven Place. The reason I am exploring options is because I find it much easier to identify the trend than entries and exits.

So on the attached chart the indicator at the very bottom, the DMI_MACD Trend Ribbon shows the overall trend. I would look for Puts and Calls when I have confluence among four or five indicators as reflected by the yellow vertical lines. I would want to see the confluence as soon as the DMI_MACD changed or no trade. It's a short term trade idea but longer than scalping and something I'm exploring so todays discussion of settings provided inspiration.

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ETA: The second to bottom ribbon is the PriceActionSwingOscillator set to Trend.


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Trigger Lines!

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