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Not sure if this question has been asked but the 'default' for the UniRenko bar is as follows:
Tick Trend: 2
Tick Reversal: 4
Tick Open Offest: 2
This default works well with some contracts (ES) but leads to a little too much chop in other contracts (TF). Just wondering if anyone has figured out the best spec's for the following contracts:
The best specs are what works for your eye and trading style. Myself I like the 1 tic increment. I also like to have multiple time frames or in this case multiple bar sizes for each instrument. So for me, I use T1R1909, T1R904 and T1R402. I trade 6E, 6J and TF.
Be yourself; everyone else is already taken. Oscar Wilde
First let me say again thank you to the author of the UniRenko Bar. I use it for all of my trading as it shows the price action of any instrument very well I think. I scalp the 6e and have found the settings of 1/1/2 and 1/1/3 to be very good for scalp trading the 6e. 1/1/4 can also be good if you are trying to clear up some of the chop.
I was curious and tried the settings 1/1/3 and it seems to reveal a bug. I noticed a difference with a regular time based chart so I compared 2 settings using this bar type. The same swing low that occured around 10:16am EST shows a difference of one tick on the NQ. See picture:
I´m a big fan of the unirenko bartype. Are they only available for NT or is it possible to use them for other platforms, too? Here i would be interested to use them on dukascopy, but how? Is tehre a way to program them as an indicator like it works for Mt4/ MT5? Can someone do that here? Thanks!
Is tehre a way to program them as an indicator like it works for Mt4/ MT5? Can someone do that here? Thanks!
Waiting, Discipline and Patience Pays!