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UniRenko, Universal Renko Bar Type


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UniRenko, Universal Renko Bar Type

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  #601 (permalink)
 jmcg618 
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cory View Post
Restart it again, there are 2 steps for bar type, a)compile successfully b)restart, import successfully is the same as step a.
edit: seems like you already did step b but try restart it again doesn't hurt.

Thanks Cory,

I actually imported another of sim's indicators, not the bars, have them running now. Thanks

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  #602 (permalink)
 jmcg618 
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cory View Post
Restart it again, there are 2 steps for bar type, a)compile successfully b)restart, import successfully is the same as step a.
edit: seems like you already did step b but try restart it again doesn't hurt.

Hey Cory,

I've got the unirenko bars working, but i'm having an issue with them when I check the tick replay in the data series properties. When I do this I start getting major distortions in the plot, completely unusable. Have you any issues with your formatting when you check market replay, correction, tick replay???

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  #603 (permalink)
 cory 
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jmcg618 View Post
Hey Cory,

I've got the unirenko bars working, but i'm having an issue with them when I check the tick replay in the data series properties. When I do this I start getting major distortions in the plot, completely unusable. Have you any issues with your formatting when you check market replay, correction, tick replay???

I don't have any experience with using tick relay feature, sorry.

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  #604 (permalink)
 jmcg618 
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cory View Post
I don't have any experience with using tick relay feature, sorry.

Thanks for your help, not having much luck with this platform. I quite like the unirenko bar type, but I need it to work with a delta momentum indicator, which doesn't appear to be available anywhere, anybody using these for NT8?

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  #605 (permalink)
 jmcg618 
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cunparis View Post
I was playing around with this bar type and i noticed that when I put a strategy on a chart and look at the historical performance, the orders are not filled at the same prices as when running realtime (or market replay). In my strategy I have calculate on bar close true. In realtime, the market order is sent on the bar close price. In historical, it's sent on the bar open price. If the open setting is, for example, 3, then it can send the market order at a price that is 3 ticks better. This gives a 3 tick edge in the strategy performance but realtime it's 0.

I didn't see this mentioned in the thread, so I'm curious if others have seen this, and if there is a way to work around this? Like using a secondary bar period of 1 tick or something?

Hi Cunparis,

Were you using the Unirenko bar? Were you able to get it work with Tick Replay on?

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  #606 (permalink)
 Silvester17 
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jmcg618 View Post
Hi Cunparis,

Were you using the Unirenko bar? Were you able to get it work with Tick Replay on?

tick replay is not available for all bar types. I do believe unirenko belongs to that category:

https://ninjatrader.com/support/helpGuides/nt8/en-us/

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  #607 (permalink)
 cunparis 
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jmcg618 View Post
Hi Cunparis,

Were you using the Unirenko bar? Were you able to get it work with Tick Replay on?

Yes it was unirenko. By 'tick replay' do you mean market replay?

It's been a while, but I think remember the market replay gave similar results to real time.. Once I found out that real time it wasn't working and realized what was going on, I abandoned this bar type. I believe unirenko should not be used for indicators, strategies, or automated trading. The "true edge" only exists in backtesting.

Any 'artificial' bar type that does not show the open, high, low, and close accurately is deceiving. Be careful.

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  #608 (permalink)
 Randal B 
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Hello, this is my first post here and i have a couple of questions regarding this bar type.My first questions is there anybody trading in real time getting good results with the it,and my second questions is what's the big deal about the open,high,low,close of the bar as long as you get filled at the price you want and exist at the price you want out at?

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  #609 (permalink)
 xplorer 
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Randal B View Post
Hello, this is my first post here and i have a couple of questions regarding this bar type.My first questions is there anybody trading in real time getting good results with the it,and my second questions is what's the big deal about the open,high,low,close of the bar as long as you get filled at the price you want and exist at the price you want out at?

Hi there Randal and welcome

About your first question, I know a few traders who have used Unirenko successfully. One thread where this is documented is 'The Scalper's Journey'. You need however to be an Elite member to view it. I am sure others can chip in and speak about their experience with Unirenko.

As for your second question, if you are referring to the artificial open for this bar type, I don't think there is a big deal about it, but people just need to be mindful that some prices may be artificial, which means price for a specific bar may not necessarily have touched the marked where the bar says it did. To some it may be important, to others it may not, that's all.

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  #610 (permalink)
 jmcg618 
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Randal B View Post
Hello, this is my first post here and i have a couple of questions regarding this bar type.My first questions is there anybody trading in real time getting good results with the it,and my second questions is what's the big deal about the open,high,low,close of the bar as long as you get filled at the price you want and exist at the price you want out at?

This indicator looks great Randal, unfortunately this version available in the download section, authored by Sim22, will only work on naked charts, and some basic indicators. It cannot be used with bid/ask tick data, it will crash your charts. It would be nice if could be fixed up, but nobody has volunteered to do so. You can buy a professionally coded version from RJay at innovative trading solutions, or from purelogictrading.com. There is a free version available at Ninza.com, but it's a dll file. Unirenko here is not up to snuff though, don't use it...

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 Randal B 
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Hello xplorer and jmcg618,thank you for your reply i thought about buying the ultimate renko bars from pure logik if i decide to open a trading account with ninjatrader i just wanted to get to use the unirenko bars to paper trade with to get some type of fill of trading before i did with real money.I would like hear if anybody on hear is using the ultimate renko bars what they thought if they are any good.

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  #612 (permalink)
 jmcg618 
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Randal B View Post
Hello xplorer and jmcg618,thank you for your reply i thought about buying the ultimate renko bars from pure logik if i decide to open a trading account with ninjatrader i just wanted to get to use the unirenko bars to paper trade with to get some type of fill of trading before i did with real money.I would like hear if anybody on hear is using the ultimate renko bars what they thought if they are any good.

I was using RJ's from innovativetradingsolutions... on my nt7 platform. They were really good, perfect univerisal renko bar.. I haven't used pure logik as they are quite expensive and out of my budget... you can get it free from Ninza, which is a vendor of indicators and I would assume they are ready for production... and they are free... I'm still using nt7, haven't made the switch to nt8 yet until I get everything I need in place... as for ninjtrader, there are better platforms out there... this one is a hassle really, and getting indicators for it is a fortune. none of the free ones are coded very well or very useful... the good ones you have to pay for, and that will end up costing more than the platform license itself... I would go with one of platforms that has everything already, and no freaking quirky bugs etc... just my 2 cents...

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  #613 (permalink)
 jmcg618 
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Randal B View Post
Hello xplorer and jmcg618,thank you for your reply i thought about buying the ultimate renko bars from pure logik if i decide to open a trading account with ninjatrader i just wanted to get to use the unirenko bars to paper trade with to get some type of fill of trading before i did with real money.I would like hear if anybody on hear is using the ultimate renko bars what they thought if they are any good.

I'm looking for delta volume indicator, delta momentum, cumulative delta, and there is no free one available... I'm looking at Rancho Dinero, and it's a few hundred bucks... and the list goes on... most platforms these days include these basic tools... ninja comes with nothing, you will pay dearly for every indicator and analysis tool other than a moving average..

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 cory 
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jmcg618 View Post
. ninja comes with nothing, you will pay dearly for every indicator and analysis tool other than a moving average..

this statement makes no sense. are you like one of Ninja undercover competitor?

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 xplorer 
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jmcg618 View Post
. ninja comes with nothing, you will pay dearly for every indicator and analysis tool other than a moving average..

Surprising to read this from an elite member. There are tens (if not hundreds) of great NT downloads available for free to Elite members here on FIO.

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 eone 
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jmcg618 View Post
I was using RJ's from innovativetradingsolutions... on my nt7 platform. They were really good, perfect univerisal renko bar.. I haven't used pure logik as they are quite expensive and out of my budget... you can get it free from Ninza, which is a vendor of indicators and I would assume they are ready for production... and they are free... I'm still using nt7, haven't made the switch to nt8 yet until I get everything I need in place... as for ninjtrader, there are better platforms out there... this one is a hassle really, and getting indicators for it is a fortune. none of the free ones are coded very well or very useful... the good ones you have to pay for, and that will end up costing more than the platform license itself... I would go with one of platforms that has everything already, and no freaking quirky bugs etc... just my 2 cents...

Hi,

Please could you send me the Renko indicator for NT7 from NINZA? They don't seem to have NT7 version anymore. Since there are rules against posting DLLs, please could you send it to razakonline@gmailc.om?

Thank you in advance.

RS

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  #617 (permalink)
 jmcg618 
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Sorry I don't have that one... I have RJ's Renko Spectrum bar type on my nt7...

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 jmcg618 
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cory View Post
this statement makes no sense. are you like one of Ninja undercover competitor?

of course not, I am however a very frustrated user... the costs of getting well coded and useful indicators for this platform are exorbitant.. If I didn't already have the license I would use one of the many better platforms available..

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  #619 (permalink)
 Silvester17 
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jmcg618 View Post
of course not, I am however a very frustrated user... the costs of getting well coded and useful indicators for this platform are exorbitant.. If I didn't already have the license I would use one of the many better platforms available..

you would be surprised how many of the "better platforms available" have copied the nt7 indicators you can find here for their own use. sorry but those are some of the finest and really well coded indicators, not to mention for free.

btw that includes indicators using bid/ask calculations as well.

you should also know that most vendors are members here too. free access for them to "steal" ideas, code etc. when it comes to ninjatrader, there's no better source than futures.io

edit: here are just a few examples:

- delta package (cd, cdha, delta volume, delta momentum) by @gomi



- market profile by @gomi



- volume ladder by @gomi



- profiling toolkit for strategies by @gomi



- opening range by @gomi




- volume ladder (metro edition) by @devdas



- vertical scroll tool by @devdas




- session pivots by @Fat Tails



- session vwap by @Fat Tails



- opening range mtf by @Fat Tails



- those are just a few by @Fat Tails (too many to list them all)


- price action swing by @dorschden




again, those are just a few samples of excellent coded and free indicators for nt7 you can download on this site. so much for "none of the free ones are coded very well or very useful"

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  #620 (permalink)
 jmcg618 
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Silvester17 View Post
you would be surprised how many of the "better platforms available" have copied the nt7 indicators you can find here for their own use. sorry but those are some of the finest and really well coded indicators, not to mention for free.

btw that includes indicators using bid/ask calculations as well.

you should also know that most vendors are members here too. free access for them to "steal" ideas, code etc. when it comes to ninjatrader, there's no better source than futures.io

edit: here are just a few examples:

- delta package (cd, cdha, delta volume, delta momentum) by @gomi



- market profile by @gomi



- volume ladder by @gomi



- profiling toolkit for strategies by @gomi



- opening range by @gomi




- volume ladder (metro edition) by @devdas



- vertical scroll tool by @devdas




- session pivots by @Fat Tails



- session vwap by @Fat Tails



- opening range mtf by @Fat Tails



- those are just a few by @Fat Tails (too many to list them all)


- price action swing by @dorschden




again, those are just a few samples of excellent coded and free indicators for nt7 you can download on this site. so much for "none of the free ones are coded very well or very useful"

Ya, they copied ninjatrader, give me a break! Ninja comes with nothing... and indicators mentioned here were all copied from better platforms and coded for ninjatrader...

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  #621 (permalink)
 VictorK 
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@jmcg618
Hard to believe you are so dismissive of the effort Silvester 17 put in to provide you with all the links to great indicators.
He has over 10, 000 thanks and explorer has almost 5,000, indicating their history in helping people on this site.
You give no facts or examples for your criticism, which would make one think you really are not serious about learning from others, and wonder why you are posting here.
Just my opinion.
Victor

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 bobwest 
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jmcg618 View Post
Ya, they copied ninjatrader, give me a break! Ninja comes with nothing... and indicators mentioned here were all copied from better platforms and coded for ninjatrader...

This is not a criticism, just a comment, but a lot of heat is getting generated just because a user-created bar type didn't work with tick replay, as it is implemented in a still somewhat new version of the platform.

NinjaTrader has a lot of good points, and it has its shortcomings in terms of what is not included in the package. As far as I know, and I don't know everything, the other platforms don't have anything like the same depth of (free) user support. This is not necessarily a plus (maybe every package should be complete in itself, without any additions), but it is pretty much true, and the support can be very valuable.

If NT does not suit you, then go to another platform. The market has given you certain alternatives in your trading package. You can pick and choose between them, but your choices are only what they are. Ninja has a certain depth, which is augmented by all the user-supplied stuff, here and on their website, and it may not be perfect. Neither may your other choices. So pick something. It's always a balancing act. If you don't like the Ninja balance, then move on.

I think, honestly, that you are justified in being unhappy that the UniRenko bar type does not work well with tick replay. I would want it to as well. I think that NT ought to be able to accommodate any bar type and still display correct bid/ask data.

(But there clearly are some technical issues in doing so. I suspect that, at present, no Renko type bar will work well with tick replay, since the bid/ask data is a time series and any Renko type bar is based on price range, not time. I think that NT ought to be able to make them work together, but probably if you tried any vendor's Renko implementation for NT you would find the same thing, at least at this point in NT's development. I do not think it is an issue with the UniRenko bar itself.)

If you really think this is important, the best thing would be to report the issue to NinjaTrader on their support forum: https://ninjatrader.com/support/forum/index.php -- it's more likely to do some good there than it will do here.

The success of good traders does not depend on one indicator, chart type, or whatever, and no platform will give you everything that you want. Just make a choice and move along. And hopefully, make some money too.

Bob.

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  #623 (permalink)
 bobwest 
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VictorK View Post
@jmcg618
Hard to believe you are so dismissive of the effort Silvester 17 put in to provide you with all the links to great indicators.
He has over 10, 000 thanks and explorer has almost 5,000, indicating their history in helping people on this site.
....
Victor

Just saw this.

Not to say anything about anyone else, but I always find myself clicking the Thanks button for @Silvester17's posts, and @xplorer's too. I always learn something from them.

Bob.

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 jmcg618 
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bobwest View Post
This is not a criticism, just a comment, but a lot of heat is getting generated just because a user-created bar type didn't work with tick replay, as it is implemented in a still somewhat new version of the platform.

NinjaTrader has a lot of good points, and it has its shortcomings in terms of what is not included in the package. As far as I know, and I don't know everything, the other platforms don't have anything like the same depth of (free) user support. This is not necessarily a plus (maybe every package should be complete in itself, without any additions), but it is pretty much true, and the support can be very valuable.

If NT does not suit you, then go to another platform. The market has given you certain alternatives in your trading package. You can pick and choose between them, but your choices are only what they are. Ninja has a certain depth, which is augmented by all the user-supplied stuff, here and on their website, and it may not be perfect. Neither may your other choices. So pick something. It's always a balancing act. If you don't like the Ninja balance, then move on.

I think, honestly, that you are justified in being unhappy that the UniRenko bar type does not work well with tick replay. I would want it to as well. I think that NT ought to be able to accommodate any bar type and still display correct bid/ask data.

(But there clearly are some technical issues in doing so. I suspect that, at present, no Renko type bar will work well with tick replay, since the bid/ask data is a time series and any Renko type bar is based on price range, not time. I think that NT ought to be able to make them work together, but probably if you tried any vendor's Renko implementation for NT you would find the same thing, at least at this point in NT's development. I do not think it is an issue with the UniRenko bar itself.)

If you really think this is important, the best thing would be to report the issue to NinjaTrader on their support forum: https://ninjatrader.com/support/forum/index.php -- it's more likely to do some good there than it will do here.

The success of good traders does not depend on one indicator, chart type, or whatever, and no platform will give you everything that you want. Just make a choice and move along. And hopefully, make some money too.

Bob.

RJ's bar works perfectly, and he has one that can be used for backtesting. And the free renko from Ninza works as well. If anybody is looking for one that works...

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  #625 (permalink)
 jmcg618 
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bobwest View Post
Just saw this.

Not to say anything about anyone else, but I always find myself clicking the Thanks button for @Silvester17's posts, and @xplorer's too. I always learn something from them.

Bob.

There's a lot of love here for Ninjatrader, that much is clear. I however am not in that camp. The only indicators that have any real value are orderflow type indicators, and they are very expensive ad-ons for Ninjatrader. If you get cheap or free or poorly coded indicators or ad-ons you are going be running one shaky rig...

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  #626 (permalink)
 bobwest 
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jmcg618 View Post
RJ's bar works perfectly, and he has one that can be used for backtesting. And the free renko from Ninza works as well. If anybody is looking for one that works...

OK, no problem here.


jmcg618 View Post
There's a lot of love here for Ninjatrader, that much is clear. I however am not in that camp. The only indicators that have any real value are orderflow type indicators, and they are very expensive ad-ons for Ninjatrader. If you get cheap or free or poorly coded indicators or ad-ons you are going be running one shaky rig...

You have every right to any opinion you have, but you don't know enough, in my view, to make really big statements about all the indicators that are available on this site. ("Poorly coded" is not factually correct, no matter that you have had a problem with this bar type. A poorly coded indicator from this site is very rare for NT7; there are more problems with NT8 coding, largely because of its newness.)

Basically, why don't you just switch to another platform? I don't have any particular "love" for NinjaTrader, I just use it because it works well enough for me, and I have tried many others. If you want orderflow indicators, and you're not happy with NT, why not try something else? Try Sierra Chart, for instance. It's cheap and it has a ton of good stuff as part of the package, order flow included, and it may be supported by your broker. But it has no large user support community. Take your pick.

I hope you are profitable with whatever tools that you have chosen. I mean that without any irony or ill-will at all. Everyone should decide on what they want, and go with it.

Bob.

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  #627 (permalink)
 jmcg618 
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bobwest View Post
OK, no problem here.



You have every right to any opinion you have, but you don't know enough, in my view, to make really big statements about all the indicators that are available on this site. ("Poorly coded" is not factually correct, no matter that you have had a problem with this bar type. A poorly coded indicator from this site is very rare for NT7; there are more problems with NT8 coding, largely because of its newness.)

Basically, why don't you just switch to another platform? I don't have any particular "love" for NinjaTrader, I just use it because it works well enough for me, and I have tried many others. If you want orderflow indicators, and you're not happy with NT, why not try something else? Try Sierra Chart, for instance. It's cheap and it has a ton of good stuff as part of the package, order flow included, and it may be supported by your broker. But it has no large user support community. Take your pick.

I hope you are profitable with whatever tools that you have chosen. I mean that without any irony or ill-will at all. Everyone should decide on what they want, and go with it.

Bob.

Thanks for letting me have my opinion, I really appreciate it... I might switch to another platform, Sierra charts does sound interesting, I've heard good things about it...

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 bobwest 
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jmcg618 View Post
Thanks for letting me have my opinion, I really appreciate it... I might switch to another platform, Sierra charts does sound interesting, I've heard good things about it...

https://www.sierrachart.com/

Bob.

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  #629 (permalink)
Ozquant
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I dont use ninjatrader but what i say here will apply to any platform ... Learn to write all your own indicators , i have no compromizes in any filters i use in my algos , they all do exactly what i want them to do .... Freedom

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 xplorer 
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I just wanted to point out something that I've said quite a few times, and that I've come to believe in quite strongly. It's a general statement but it is also pertinent here: there is no such thing as a one bar type, indicator or trading platform that will make or break your trading.

I say this because I've been there, and eventually realized those things in isolation are not the answer. There is no magic formula, no Holy Grail, other than hard work. I'd even go as far as saying that probably most bar types and indicators work, as long as you spend time on making them part of your trading methodology development.

I agree with @bobwest when he says that if one dislikes a platform then it's better to move on to another one. At the end of the day the best platform is the one you know best because you are able to use it to its fullest.

I don't use NT as my main platform and that's my choice. And while the statement "If you get cheap or free or poorly coded indicators or ad-ons you are going be running one shaky rig" is true, I don't find that it applies to indicators I've downloaded for NT from this site.

We are all better off because of the selfless work and the many many hours that several people spent coding indicators that today are likely used by thousands of people, for free. Generic criticism such as "NT does not have good indicators" takes away from that.

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 jmcg618 
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Further update on this issue... NT Support indicated there is a workaround to make renko bar type work with tick replay. Sim22's dont' work and neither do Ninza's free ones. I just paid up to get RJ's spectrum bars I can confirm that they work brilliantly... RJ is a great coder. These bars are precise and fast... highly recommend.. you can get them at innovativetradingsolutions.com

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 justtrader 
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bofnos View Post
Hello, it's my first post.
Forgive me if I do something wrong. I will learn it over time.
I'm trying to move to ninjatrader8 and try to adapt the NT 7 a NT8 indicator. I used a program to adapt it automatically but these are the errors after compiling.
The name of the original indicator is (jprUniRenkoBarClosesV2).
I attach the errors after the compilation.
Thanks for your help

If you still need the jprUniRenkoBarCloses script, I have converted it to NT8. Try the following link at

https://futures.io/attachments/245400d1515356215

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 NGtrader 
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I started using Sim22's Unirenko bars and I find after some time my platform starts running very slowly and freezing. Has anyone else experienced this?

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 jmcg618 
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NGtrader View Post
I started using Sim22's Unirenko bars and I find after some time my platform starts running very slowly and freezing. Has anyone else experienced this?

Yes, they are unstable, as are many of the indicators in the free download section, my experience with Sim22's indicators anyways... Only the Fat Tails indicators can be depended upon for stability.. but those are the only one's I have tried, Sim's and FT's... If you want good indicators you have to pay for them, and through the teeth these days, the major downside with NT platform.. I highly recommend a better platform, or learn how to code ninja script well and make yourself a fortune...

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 NGtrader 
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jmcg618 View Post
Yes, they are unstable, as are many of the indicators in the free download section, my experience with Sim22's indicators anyways... Only the Fat Tails indicators can be depended upon for stability.. but those are the only one's I have tried, Sim's and FT's... If you want good indicators you have to pay for them, and through the teeth these days, the major downside with NT platform.. I highly recommend a better platform, or learn how to code ninja script well and make yourself a fortune...

Thanks, have you or anyone else tried the free one from Ninza.co? I saw the video on youtube and someone in the comments mentioned the settings are customizable so it's like unirenko.

[Free] ninZaRenko - Best Renko Bars (with Wicks) for NinjaTrader 8

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 michaelf 
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NGtrader View Post
I started using Sim22's Unirenko bars and I find after some time my platform starts running very slowly and freezing. Has anyone else experienced this?

@NGtrader

try this one.

Attached Files
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 michaelf 
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NGtrader View Post
Thanks, have you or anyone else tried the free one from Ninza.co? I saw the video on youtube and someone in the comments mentioned the settings are customizable so it's like unirenko.

[Free] ninZaRenko - Best Renko Bars (with Wicks) for NinjaTrader 8

@NGtrader

that's a dll indicator, never, never install a free dll indicator

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 NGtrader 
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michaelf View Post
@NGtrader

try this one.

Thanks, but this is for NT7 right? I'm looking for one for NT8.

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 NGtrader 
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michaelf View Post
@NGtrader

that's a dll indicator, never, never install a free dll indicator


It sounds like they have a bad reputation, do they cause issues or unreliable or both?

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  #640 (permalink)
 bobwest 
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michaelf View Post
@NGtrader

that's a dll indicator, never, never install a free dll indicator


NGtrader View Post
It sounds like they have a bad reputation, do they cause issues or unreliable or both?

A file that has a ".dll" extension is a compiled file, meaning it is in a format that your PC can read, but human beings can't. When an indicator is created, the first step is to write its "source code" in a C# program (in a file with an extension of ".cs"), which is human-readable, and then compile it into a compiled file so it will be read and run by a computer.

If all you have is the compiled (dll) file, then you can't take a look at the source code and so you don't know what's in it.

Vendors will usually only provide a dll file for a purchased (or free) indicator, so no one can read their source code and steal it. This makes sense, and if you get an indicator from a vendor, you will almost always get a dll. If you know and trust them, then it's probably OK. But since no one knows what a dll really contains, and no one can look into it an find out, it can also contain malicious code, including viruses. Or, it may just be badly written and it can't be corrected since there is no source code.

That's why it's FIO policy to not post dll files in the forum. Is using one a good idea if it's just for your own use? If you know and are willing to trust the vendor, it's your risk only, so you can decide. This is true no matter whether the dll was offered free or not, although I guess you could have more doubts about something that was free. But if you post one, it can become other people's risk also.

So it's not inherently bad, but it shouldn't be posted here. For all the same reasons, it's probably best not to be over-trusting of something you see on the internet, without knowing something about the source.

Bob.

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 michaelf 
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NGtrader View Post
Thanks, but this is for NT7 right? I'm looking for one for NT8.

@NGtrader

it's for NT8. Written by a NinjaTrader Tech Chelsea_B

For the dll, @bobwest did, like every time, a great job to explain it

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 NGtrader 
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michaelf View Post
@NGtrader

it's for NT8. Written by a NinjaTrader Tech Chelsea_B

For the dll, @bobwest did, like every time, a great job to explain it

Thanks Michael! Yes agreed, Bobwest gave a very comprehensive answer, I have no questions at all.

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 jmcg618 
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NGtrader View Post
Thanks, have you or anyone else tried the free one from Ninza.co? I saw the video on youtube and someone in the comments mentioned the settings are customizable so it's like unirenko.

[Free] ninZaRenko - Best Renko Bars (with Wicks) for NinjaTrader 8

ninza free bars are just as bad... I am using renko spectrum from innovative trading solutions, they work perfectly, but like everything ninjatrader, expensive...

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 MrTrader 
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jmcg618 View Post
ninza free bars are just as bad... I am using renko spectrum from innovative trading solutions, they work perfectly, but like everything ninjatrader, expensive...

Hi, I was wondering if its possible to post two charts, one with ninza and other with innovative, same insteument.. i think it could help others too..
Regards,

Sent using the https://futures.io%20mobile%20app

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 jmcg618 
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MrTrader View Post
Hi, I was wondering if its possible to post two charts, one with ninza and other with innovative, same insteument.. i think it could help others too..
Regards,

Sent using the https://futures.io%20mobile%20app

Renko is Renko, it's all the same. They only differ in how they were coded. RJ's don't reprint, capture the tick and volume data accurately, and can be used with tick replay based indicators. They are professionally coded. I believe pure logik has a very good product as well, but I haven't tried it as I think it was like twice the price of RJ's. Ninza is free and does not work witch tick replay in nt8. If you want free ones try the ones that were just posted in this thread. Apparently they were coded by a ninjatrader support staff and they work...

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  #646 (permalink)
 Silvester17 
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jmcg618 View Post
There's a lot of love here for Ninjatrader, that much is clear. I however am not in that camp. The only indicators that have any real value are orderflow type indicators, and they are very expensive ad-ons for Ninjatrader. If you get cheap or free or poorly coded indicators or ad-ons you are going be running one shaky rig...


jmcg618 View Post
I'm looking for delta volume indicator, delta momentum, cumulative delta, and there is no free one available... I'm looking at Rancho Dinero, and it's a few hundred bucks... and the list goes on... most platforms these days include these basic tools... ninja comes with nothing, you will pay dearly for every indicator and analysis tool other than a moving average..

it looks like you might just be wrong again

maybe you should watch tomorrow's webinar:




Big Mike View Post
Hi guys,

It is my pleasure to welcome back Brett Barrett from NinjaTrader for a webinar on Thursday, January 18th @ 4:30PM Eastern US.

The title of this event is "NinjaTrader 8 Order Flow Tool Suite Sneak Peek", and bullets point include:

Join Brett Barrett, NinjaTrader Product Manager, for a preview of intuitive order flow analysis tools coming soon to NinjaTrader 8.

Topics to be addressed include:
- Introduction of the NinjaTrader Order Flow + tool suite
- Discussion of order flow concepts and their use cases
- Preview of new Volumetric Bars (footprint style chart)
- How Volumetric Bars can play a key role in order flow analysis

As these new tools are introduced, NinjaTrader is looking for feedback from the FIO community. Be sure to join this interactive session and bring your questions!

Register for the event:
https://on.futures.io/7nr90

Mike


some more info here:

https://ninjatrader.com/support/forum/showthread.php?t=107060

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 NGtrader 
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MrTrader View Post
Hi, I was wondering if its possible to post two charts, one with ninza and other with innovative, same insteument.. i think it could help others too..
Regards,

Sent using the https://futures.io%20mobile%20app

I don't have the indicator from Innovative but here is a side-by-side comparison of Ninzarenko on the left and Unirenko (from this forum) on the right. As you can see they are quite similar. I was using settings of 4,4. Ninzarenko does not have a setting for offset. Ninzarenko bars look a lot cleaner.

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  #648 (permalink)
 cory 
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sneak peek of webinare post #646

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 NGtrader 
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cory View Post
sneak peek of webinare post #646

I can see this taking away some business from OFA .

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  #650 (permalink)
 cory 
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NGtrader View Post
I can see this taking away some business from OFA .

by now, if you are not with OFA then you don't want their business any way, no loss for them. Oder Flow is most overused term, imho.

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 jmcg618 
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Silvester17 View Post
it looks like you might just be wrong again

maybe you should watch tomorrow's webinar:






some more info here:

https://ninjatrader.com/support/forum/showthread.php?t=107060



Super Stoke about this news... just shelled out some money to get some custom stuff done... not sure if this update will include it but great news nonetheless...

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  #652 (permalink)
 cory 
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NGtrader View Post
I don't have the indicator from Innovative but here is a side-by-side comparison of Ninzarenko on the left and Unirenko (from this forum) on the right. As you can see they are quite similar. I was using settings of 4,4. Ninzarenko does not have a setting for offset. Ninzarenko bars look a lot cleaner.

that is because ninja bar parm doesn't allow value = 0, thus offset minimum value = 1 even if you enter 0 for offset.
This version get around that restriction, set offset = 100 and it will treat it as Zero internally.
Note: this goes to bartypes folder not indicators folder, this is NT8 version.

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  #653 (permalink)
 Scalpingtrader 
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cory View Post
that is because ninja bar parm doesn't allow value = 0, thus offset minimum value = 1 even if you enter 0 for offset.
This version get around that restriction, set offset = 100 and it will treat it as Zero internally.
Note: this goes to bartypes folder not indicators folder, this is NT8 version.

Hi Cory, is there a version compatible with NT7?

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 cory 
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Scalpingtrader View Post
Hi Cory, is there a version compatible with NT7?

1) open ninja 7, leave it open
2) go to folder \Documents\NinjaTrader 7\bin\Custom\Type
3) open UniRenkoBarsType.cs to edit it
4) add the following code , the final edit should look like what I post, save file
//set offset = 0
if (bars.Period.BasePeriodValue == 100)
openOffset = 0;
 
Code
                trendOffset    = bars.Period.Value  * bars.Instrument.MasterInstrument.TickSize;
                reversalOffset = bars.Period.Value2 * bars.Instrument.MasterInstrument.TickSize;
				//bars.Period.BasePeriodValue = bars.Period.Value;	//### Remove to customize OpenOffset
				openOffset = Math.Ceiling((double)bars.Period.BasePeriodValue * 1) * bars.Instrument.MasterInstrument.TickSize;
          //set offset = 0
		if (bars.Period.BasePeriodValue == 100)
                    openOffset = 0;

                barOpen = close;
                barMax  = barOpen + (trendOffset * barDirection);
                barMin  = barOpen - (trendOffset * barDirection);
5) open any indicator and compile it
6) re-start ninja, enter offset = 100 to test

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  #655 (permalink)
221Bazookas
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Hi...Im new in NT7 environment and on this forum...Hi everyone.

Well a friend recommended me UniRenko indicator so Im going through all the steps trying to download to no avail...am I missing a step or is this indicator not available?

....live long and prosper

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  #656 (permalink)
 michaelf 
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221Bazookas View Post
Hi...Im new in NT7 environment and on this forum...Hi everyone.

Well a friend recommended me UniRenko indicator so Im going through all the steps trying to download to no avail...am I missing a step or is this indicator not available?

....live long and prosper

https://ninjatrader.com/support/forum/local_links.php?catid=4&sort=N&pp=15&page=16

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221Bazookas
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@michealf Hello and thank you...best regards

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  #658 (permalink)
greg500
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NT8 strategy builder... I would like to use Unirenko on multiple time-frames. The strategy builder is limited to the basic Bar Types.


I do see the // Add a 5 minute Bars object to the strategy
Add(PeriodType.Minute, 3); // BarsArray[2]

If I tried to place the Unirenko bar type, how would the open, offset and tick be set....

I was hoping I could simply use the Strategy Builder.

Any help.

Thank you! Greg, Hershey, PA

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fede9483
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have some problem for import the file (ninjatrader 8)
unhandled exception: End of central directory record could not be found
resolved: i just edit the code and compile into the ninjtrader 8

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  #660 (permalink)
 TraderYoda 
Hampshire / United kingdom
 
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cory View Post
that is because ninja bar parm doesn't allow value = 0, thus offset minimum value = 1 even if you enter 0 for offset.
This version get around that restriction, set offset = 100 and it will treat it as Zero internally.
Note: this goes to bartypes folder not indicators folder, this is NT8 version.

Hi @cory

I would be grateful if you could advise if this version of UniRenko that you tweaked should work with Ninjatrader 8 Tick Replay enabled?

When I enable Tick Replay, the UniRenko bars disappear?

Appreciate your advice

From post

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  #661 (permalink)
 cory 
the coin hunter
virginia
 
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TraderYoda View Post
Hi @cory

I would be grateful if you could advise if this version of UniRenko that you tweaked should work with Ninjatrader 8 Tick Replay enabled?

When I enable Tick Replay, the UniRenko bars disappear?

Appreciate your advice

From post

I don't use tick relay (have no need for it) but if it works for original version then it should work for tweak version.

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  #662 (permalink)
 sairamss 
San Jose+CA/USA
 
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MWinfrey View Post
Here's a pretty cool thing you can do with the unirenko, linebreak charts based on renko. How cool is that? I wanted that ability when I was test driving BetterLineBreak.


Hello - Is there a version for this BetterLineBreak for NT8? Please let me know. Thx.

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  #663 (permalink)
 xplorer 
Site Moderator
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TraderYoda View Post

I would be grateful if you could advise if this version of UniRenko that you tweaked should work with Ninjatrader 8 Tick Replay enabled?

When I enable Tick Replay, the UniRenko bars disappear?

Appreciate your advice

From post

Does this screenshot look like the problem you are experiencing?


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  #664 (permalink)
 vickisb 
Sarasota FL
 
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Hi Profits,

I have added another UniRenko brick size to my strategy and it is compiling, but doesn't not seem to be properly evaluating the condition statements over the added data series. Any ideas what is missing or incorrect?






profits View Post
This is for everyone who wishes to use the UniRenko bar type as a non-primary input series in a strategy. Learn from my mistake. The correct statement is:

Add(PeriodType.Custom5, 004008002); //TickTrend=4 , TickReversal=8, OpenOffset=2

Please note that the statement is CASE SPECIFIC!!

NinjaTrader tech support does not support these custom type bars and therefore they may or may not help you depending on the guy/gal you get. I initially got a compile error with the above statement because I spelled "custom" with all lower case letters as specified in an earlier post in this thread. When I asked tech support to help me, this is the answer I received:

Unfortunately it is not currently possible to add a custom bar type to a strategy. You would only be able to run a custom bar type as the primary input series.

The moral of the story is.... watch your case-specific spelling and be aware that Ninja tech support will not support custom indicators.

Good trading!


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  #665 (permalink)
otislawrence
Amsterdam, The Netherlands
 
 
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Been using UniRenko for a long time now, they're amazing!

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  #666 (permalink)
 lemons 
Market Wizard
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otislawrence View Post
Been using UniRenko for a long time now, they're amazing!


Can you show some long / short trade examples. Entry / exit reasoning ?

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 dano22 
Springfield, IL
 
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Is there a UniRenko for NT7 available? If so, could someone point me toward the download location please? Thanks.

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 MiniP 
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dano22 View Post
Is there a UniRenko for NT7 available? If so, could someone point me toward the download location please? Thanks.

https://futures.io/local_links.php?catid=19&sort=d&filter=u&pp=1000

-P

"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
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  #669 (permalink)
 djdowney 
corpus christi texas
 
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dano22 View Post
Is there a UniRenko for NT7 available? If so, could someone point me toward the download location please? Thanks.


If you go to Indicators / Ninjatrader 7 and then select U at the top right you will see it first in the list

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  #670 (permalink)
 bob314159 
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The greatest enemy of knowledge is not ignorance. Knowledge’s greatest enemy is the illusion of knowledge.

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  #671 (permalink)
 dannyinhouston 
Houston Texas
 
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lemons View Post
Yes I have seen it.
You use it exactly like michaelleemoore ?

Nobody trades like Michael Moore LOL. He's like Chuck Norris. And no serious trader trades exactly like anyone else.

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  #672 (permalink)
 cory 
the coin hunter
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dannyinhouston View Post
Nobody trades like Michael Moore LOL. He's like Chuck Norris. And no serious trader trades exactly like anyone else.

time for C N joke
"Chuck Norris doesn't buy gold to hedge against inflation. Gold buys Chuck Norris to hedge against inflation."

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 rptrader 
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michaelf View Post
@NGtrader

try this one.

Hi all,

I've downloaded this indicator. I also searched in the downloads section for any updates on UniRenko but I didn't see any in there since 2013.

Is this the most recent, and best, version for NT8? What about NT7? I'd like to install them on both platforms.

Thank you for the help!
rptrader

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  #674 (permalink)
 trendisyourfriend 
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rptrader View Post
Hi all,

I've downloaded this indicator. I also searched in the downloads section for any updates on UniRenko but I didn't see any in there since 2013.

Is this the most recent, and best, version for NT8? What about NT7? I'd like to install them on both platforms.

Thank you for the help!
rptrader

Have you tried this for NT8?
https://futures.io/local_links.php?catid=27&sort=d&filter=u&pp=1000

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 rptrader 
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trendisyourfriend View Post

Thank you very much! I'll try this one for NT8.

Thanks again!
rptrader

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  #676 (permalink)
 futuros 
Weston, Florida, USA
 
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rptrader View Post
Hi all,

I've downloaded this indicator. I also searched in the downloads section for any updates on UniRenko but I didn't see any in there since 2013.

Is this the most recent, and best, version for NT8? What about NT7? I'd like to install them on both platforms.

Thank you for the help!
rptrader

Hi @rptrader here is a working version of the Unirenko type bar for NT8, hope this helps...
UniRenko – Universal Renko BarType 8FromNinjaTraderEcoSystem.zip

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 rptrader 
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futuros View Post
Hi @rptrader here is a working version of the Unirenko type bar for NT8, hope this helps...
Attachment 261285

futuros,

Thank you very much! I'll check this one out as well!

Thanks again
rptrader

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  #678 (permalink)
 rptrader 
MN
 
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Hi,

Does anyone have a good version, or the most recent version of Unirenko for NT7? I've tried searching on here but the most recent one I found in the downloads was from 2015. And I'm trying not to spend $300 on buying them from a vendor.

Thank you in advance for the help!

rptrader

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  #679 (permalink)
 S trader 
Mediterranean
 
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rptrader View Post
Hi,

Does anyone have a good version, or the most recent version of Unirenko for NT7? I've tried searching on here but the most recent one I found in the downloads was from 2015. And I'm trying not to spend $300 on buying them from a vendor.

Thank you in advance for the help!

rptrader

This is the version I use for years, fixed bugs from original Monpere version.
Good version, nothing new in unirenkos, dont worry


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 rptrader 
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S trader View Post
This is the version I use for years, fixed bugs from original Monpere version.
Good version, nothing new in unirenkos, dont worry


S trader,

Thank you for the info and the link. I downloaded it and it looks like it is working fine.

Thanks again!
rptrader

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  #681 (permalink)
 jmont1 
New York, NY
 
Experience: Intermediate
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Unirenko strategy target and stops cancel when the first bar closes. Is anyone else having this issue? I am running a Strategy Builder strategy but that should mean it knows how to handle these items.

Any assistance would be appreciated.

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  #682 (permalink)
 crazybears 
Alesia E.U.
 
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jmont1 View Post
Unirenko strategy target and stops cancel when the first bar closes. Is anyone else having this issue? I am running a Strategy Builder strategy but that should mean it knows how to handle these items.

Any assistance would be appreciated.

could you post the code ?

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  #683 (permalink)
 jmont1 
New York, NY
 
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crazybears View Post
could you post the code ?

@crazybears, NT support replied to my post over there. They are looking at the code. I do not think it is my code issue since I suspect it will do it with other strategies as well.

Thanks for reaching out.

Update: NT Support replied confirming there is an issue

Hello,
Just to update you, after further review we were able to recreate the issue with a simplified test script.
We will investigate further and will update you with our findings.
Thanks in advance for your patience while we dig into this further.

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  #684 (permalink)
 laenxin 
Dallas
 
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I have examined the UniRenko bars using both the the (earlier created) Sim22 Bar Type indicator from the futures.io NT8 download section, and the Bar Type indicator from the NinjaTrader EcoSystem downloads.

I don’t know if NT used the Sim22 coding to create their indicator, but both have the same problem of failing to print the wick extension on some of the reversal bars.

Using the settings of: Tick Trend = 1, Tick Reversal = 5, on the reversal bar, there should be a one tick extension beyond the prior trend bar. For example, many times, the high of the last up trend bar equals the high of the down reversal bar.

This is a problem if you have an indicator that keys off that print, like the PriceActionSwing indicator, which may also create a problem when creating a strategy using the UniRenko bars.

Is anyone aware of this issue, and a solution?

If the explanation isn’t clear, I would be willing to post a picture if I knew how to. Please direct me to instructions, if that is useful.

Thank you.

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 jmont1 
New York, NY
 
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laenxin View Post
I have examined the UniRenko bars using both the the (earlier created) Sim22 Bar Type indicator from the futures.io NT8 download section, and the Bar Type indicator from the NinjaTrader EcoSystem downloads.

I don’t know if NT used the Sim22 coding to create their indicator, but both have the same problem of failing to print the wick extension on some of the reversal bars.

Using the settings of: Tick Trend = 1, Tick Reversal = 5, on the reversal bar, there should be a one tick extension beyond the prior trend bar. For example, many times, the high of the last up trend bar equals the high of the down reversal bar.

This is a problem if you have an indicator that keys off that print, like the PriceActionSwing indicator, which may also create a problem when creating a strategy using the UniRenko bars.

Is anyone aware of this issue, and a solution?

If the explanation isn’t clear, I would be willing to post a picture if I knew how to. Please direct me to instructions, if that is useful.

Thank you.

@laenxin, Not sure if an image is required for someone else to assist you but to do it:

Select edit on your last post since you may edit up to 24 hrs.

Go Advanced to get to the full edit capability.

Scroll down and select Manage Attachments. Browse to your image file and select upload. Once uploaded it will be listed in the attachments screen. Select Embed so it will show up in post rather than just be a file.

Submit and you should be good. Typically I do not list a reason for the edit but some people do.

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  #686 (permalink)
Your demo account
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 Fat Tails 
Berlin, Europe
 
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laenxin View Post
I have examined the UniRenko bars using both the the (earlier created) Sim22 Bar Type indicator from the futures.io NT8 download section, and the Bar Type indicator from the NinjaTrader EcoSystem downloads.

I don’t know if NT used the Sim22 coding to create their indicator, but both have the same problem of failing to print the wick extension on some of the reversal bars.

Using the settings of: Tick Trend = 1, Tick Reversal = 5, on the reversal bar, there should be a one tick extension beyond the prior trend bar. For example, many times, the high of the last up trend bar equals the high of the down reversal bar.

This is a problem if you have an indicator that keys off that print, like the PriceActionSwing indicator, which may also create a problem when creating a strategy using the UniRenko bars.

Is anyone aware of this issue, and a solution?

If the explanation isn’t clear, I would be willing to post a picture if I knew how to. Please direct me to instructions, if that is useful.

Thank you.


UniRenko bars is a difficult story. In my opinion the concept is flawed, although there are a few good points.

(1) Renko bars follow a pretty simple rule. When price exceeds a set price level, one or several new boxes are drawn. Let me take your example with a brick size of 1 tick, and a reversal amount of 5 ticks. Let us further assume that the last bar closed up at 100 ticks. Then we would have a target of 101 for the next up bar (brick size added ) or 95 for the next down bar (reversal size deducted. Now let us assume that the next tick prints at 103. In this case a standard Renko algorithm should insert 3 new bars at once, the third closing at 103. The first and the second bar would be fake bars carrying zero volume, the third bar would carry the volume of the transaction associated with the last tick. At least this is what should happen.

NinjaTrader in-built bars: These bars are terrible. When the set price level is reached, the new tick is used
(a) to redraw the prior bar without changing its price stamp
(b) to open a new bar where the last tick is used as opening price
The problem here is that all NinjaTrader Renko bars have a time stamp one tick earlier than the time stamp that is carried by the tick that closes the bar. Otherwise put there is a mismatch between closing price and time stamp, as the time stamp is taken from the tick prior to the bar close. As a result NinjaTrader in-built Renko bars cannot be used for multi-timeframe scripts with historical data, nor can they used for multi-instrument strategies.
Moreover in our sample scenario NinjaTrader would insert two fake bars with zero volume. Therefore you should not use NinjaTrader in-built Renko bars to calculate any indicator values, as indicators are calculated from prices at which the instrument never traded.

UniRenko bars: These bars are also terrible. For no specific reason the bars are only closed when the set price level is exceeded by at least 1 tick. As a result a new brick may not plot at all when the target price is reached. I accept that this is a different design that deviates from the original idea of Renko bars, and consider it as a delayed renko. As a side note the delayed Renko bar carries the timestamp of the tick following the bar close of the renko bar. As a result UniRenko bars will only generate delayed signals for multi-timeframe or multi-instrument strategies. Synchronization will not work on historical data.

If you take in-built Renkos and UniRenko together it is like a Punch and Judy show. The in-built renko carries a timestamp of one tick prior to the closing tick (which requires a time warp) while the UniRenko bar carries a timestamp of one tick after the closing tick. Non of this is a good solution. Best use renko bars where bar close and timestamp match, i.e. where the closing tick carries the same timestamp as the bar.

Now this is not the whole story. Conventional renko bars such as the in-built renko bars use a while ... do loop to insert several Renko bars at once as needed in our little scenario described above. UniRenko bars cannot insert several bars at once, but at best a single renko bar. Due to this restriction the one tick delay may even increase to several ticks.

(2) Why UniRenko bars show false prices and false volume:

As described above the UniRenko up bar is only closed, when the target high has been exceeded by at least one tick. When this tick is detected, the prior bar is closed. But here comes the catch. When closing the prior renko bar

- the bar will close at the Renko target level regardless whether a transaction took place at this price or not
- the volume of the new tick is added to the prior bar renko bar and the new renko bar counting it twice
- the time stamp of the new tick is transferred to the prior bar which does not make sense, if the prior bar already had reached the renko target price

As a result

- some Renko bars will close at a fake price
- the volume of all ticks closing renko bars is counted twice for old an new bar
- you will not see any zero volume bar, even if no transaction took place within the renko range

Hence UniRenko bars carry false volume, and cumulated volume of a trading session is systematically exaggerated such that UniRenko bars should not be used with volume indicators.

While the volume of the closing tick is counted twice, the price of this tick is not considered at all. Everytime that the closing tick is not followed by another tick with the same price such that price reverses, the price of this tick drops out and is not shown on the chart. Therefore the wicks of UniRenko bars may not show the real highs and lows, but will miss all highs and lows for which only a single transaction took place.

(3) Another interesting feature of common Renko bars is the fake open. The code for the UniRenko bar even declares the variable as "fakeOpen". The fake open is a false price needed to please the trader when using the bars. Unfortunately, NinjaTrader uses the fake open for simulating backtests, such that all backtests carried out on UniRenko bars become totally unusable. The performance of trend following strategies is considerably overestimated, while the performance of counter trend strategies deteriorates significantly. There is a workaround used to get around this problem by using an honest bar and adding a chart style for entertainment of the trader. This approach results in backtestable bars that are disguised for looking better. The BetterRenko bar is an example (although it also has bugs).

I think it is a waste of time to go into details any further ....


Here is the short version of the story:

- UniRenko bars are dynamic renko bars that allow for selecting the ratio brick size : reversal size
- UniRenko bars carry false time stamps delayed by 1 tick and thus create delayed signals
- UniRenko bars should not be used with MTF or multi-instrument scripts
- UniRenko bars cannot detect single tick highs and lows
- UniRenko bars carry false volume as the volume of many ticks is double counted
- UniRenko bar insert fake bars with false volume (as opposed to fake bars with zero volume for standard renko bars)
- UniRenko bars use a fake open making it completely useless for backtests

Summary: Open of all reversal bars is false. Highs and lows may be false. Closes may be fake. Volume of all bars is definitely false. The time stamps are delayed by 1 tick. Cannot be used for backtests.

But you may even do worse. Just combine UniRenko with HeikinAshi. Both are fake bars, and combining two of them into a single graphical representation will definitely help to deplete your account much faster.

Nota: I am referring to the UniRenko bars as posted per this link after release of NT8b9: . I do understand that this contribution has been made free of charge and also has its merits. However, it is not easy to correct the issues, as false highs and lows and false volumes are necessary to comply with mutliple delays caused by the missing loop. It would be easier to rebuild a renko bar than to correct the UniRenko bars. As an alternative I would suggest BetterRenko as can be downloaded here: . I haven't tested it in detail, but it does come with an orderly timestamp and allows for running backtests.

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  #688 (permalink)
 TraderTS 
Texas, USA
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: AMP Futures w/ CQG Data Feed
Trading: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
 
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@Fat Tails
Wow, WTG for answering!
Furthermore... no wonder your "Favorite Futures: Keyboard".

P.S.
Glad that I no longer use UniRenko chart... many years ago.


Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
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  #689 (permalink)
 Blash 
Legendary Market Chamois
Chicago, IL
 
Experience: None
Platform: NT8,NT7,TWS
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I have Shark Indicators BacktestRenko bars called SiBacktestRenko and I like them. They are a bit pricey but you get what you pay for.

I would recommend them to anyone that wants to use Renko type bars. They render the true trades.


These three charts are CL from friday June 14 2019 from RTH open to about 2 hrs and 50 min in.

Brick size 2, New Trending Bar 20, Reversal size 2 backtest on


Brick size 5, New Trending Bar 1, Reversal size 11 backtest off


Brick size 5, New Trending Bar 1, Reversal size 11 backtest on


Ron

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  #690 (permalink)
 NGtrader 
Vancouver, Canada
 
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My partner and I have been working on an automated trading strategy coming up to 2 years now. I will confirm what Fat Tails has said regarding Unirenko, Better Renko and the renko bars that come installed with NT. They are all horrible. They provide overly optimistic (fake) backtest results that don't hold up in walk forward testing, market replay or in the live market when we have run live SIM.

Have also tried RJay's live renko bars and while these were fine for market replay, did not do so well with strategy analyzer. I second what Blash said about SI Backtest Renko bars. The backtest results plus walkforward and live testing results have all been consistent and reliable. Yes they are a bit pricey but one licence can be used on two computers and these bars will pay for themselves in a short amount of time.

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 gomi 
Paris
 
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I like UniRenko bars and use them a lot on my charts, I even coded one for SierraCharts...

They may have backtesting flaws but I don't run backtests :-)

I just wanted to add that one of the reasons you must be very careful if you try a backtest is that they know the future.

If you have a unirenko closing green, you *know* that next bar will go 1 tick higher, so if you program a strategy that buys on close, and sells 1 tick higher, and use no slippage and optimistic fills, you have a 100% winning system yey :-)

So IMO you must really understand how they work , use enough slippage, if you want to use them in backtesting...

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 WoodyFox 
Orlando, Florida
 
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Its actual simple to remove the open offset, and change them to close on touch within the code. If you do this, they will backtest just fine. Although one must be careful backtesting any strategy to make sure they are true results.

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 NGtrader 
Vancouver, Canada
 
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We are talking about different things.

If you are doing discretionary trading, I'm sure unirenko is fine. However when it comes to automated trading using strategy analyzer and doing walk-forward testing with backtests that are accurate and reliable, it simply is not acceptable, even with slippage.

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 justtrader 
San Francisco, CA
 
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WoodyFox View Post
Its actual simple to remove the open offset, and change them to close on touch within the code. If you do this, they will backtest just fine. Although one must be careful backtesting any strategy to make sure they are true results.

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Would you please explain how to accomplish this: " change them to close on touch within the code."

Thank you.

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 WoodyFox 
Orlando, Florida
 
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Would you please explain how to accomplish this: " change them to close on touch within the code."

Thank you.

Post #13.

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