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This is something I've noticed. Have no idea if it is viable or not but seems to have potential. It is by no means a mechanical system. Need to make an assessment of the market to determine if it's moving well. Otherwise, as with most rule …
This is something I've noticed. Have no idea if it is viable or not but seems to have potential. It is by no means a mechanical system. Need to make an assessment of the market to determine if it's moving well. Otherwise, as with most rule …
Just checking out this bar type a little more. I think everyone here already realizes how it works.
It seems that having the Open Offset set at 1 gives the most accurate chart.
@monpere Really like you bar type and I am trying to use it an indicator that is multi timframe indicator. Can this bar type be used in a BarsArray style. I am running into an issue added it to the MTF indicator and am seeking some help
That bar type is Custom6 in my configuration
I have tried some of the following combinations
Add(PeriodType.Custom6, 4,2,12 );
or
Add(PeriodType.Custom6, T2R12O4 );
Because the NT Add() method accepts one integer argument for the bar period, the additional user parameters necessary to customize the bar cannot be specified. Currently you can specify the Trend parameter as the 2nd argument in the Add() method, but the Reversal and Open parameters will be defaulted.
If/When I get some time this week, I will add some code to allow specifying all the bar parameters in one argument, so that the bar data can be fully specified in the Add() method.
To support Muti TimeFrame indicators/strategies using the Add() method, added an alternative way to specify all bar specs in the 'Tick Trend' parameter. You can now alternatively specify each parameter as 3 digits in the Data Series window 'Tick Trend' parameter or Add() method 'Period' parameter. For example to specify TickTrend=4 , TickReversal=8, OpenOffset=2 or (T4R8O2) then specify: 'Tick Trend'=004008002 in Data Series window, or Add(PeriodType.custom5, 004008002);' in your MTF code. The normal way of specifying the parameters will still work as well.
This is my implementation of a Universal Renko bar type. It allows the user to choose when the bar closes in the direction of the previous bar (Trend), and when it closes in the direction against the previous bar (Reversal).
This allows you to tailor …
I saw eailier an indicator that would allow you to be notified when the unirenko goes from red to green or green to red and can not find it now thanks alot for your help I like the way your unirenko bars look so far thanks alot
