UniRenko, Universal Renko Bar Type

September 16th, 2013, 03:22 PM

dstrader

Sylvester,

Thanks for showing us this issue. The UniRenko uses the P&F memory 'slots' to "cheat" NT into a new bar type.
I will investigate if there is a way to fix this when I have some spare time. But either bar should work correctly independent of the name displayed in the data series settings. Another thing you can do if that bothers you, is just change the name of those settings back in the UniRenko code (to be back the original P&F). You would just have to make the correlation mentally to enter the proper settings for the UniRenko bars.

thanks @dstrader,

yes, you're correct, either bar is working correctly. not really a big deal, just thought I would mention it

September 17th, 2013, 05:37 AM

Ninjarenko

Hi Mike, this might off topic. I want to chart with Unirenko type of bars using a platform and can trade stock & forex at the same time with one broker. I don't know what would be a good combination - which platform with which broker. Could you give me some options? I have forex account with MB trading, I was told that if I want to trade stock using NT7 using MB trading, I have to switch account everytime I trade different instruments and need a multi license as well. Multicharts allow you to trade different account at the same time, does it have Unirenko kind of bar type?

Very new at trading and so much to learn. Love this community.

Thank you,

@Ninjarenko,

You might have a look at Interactive Brokers. They'll let you trade stock, FX, and futures out of the same account, and are compatible with NinjaTrader.

(And no, I'm not a shill for IB. Just a long time client.)

Regards.

dwt51

November 7th, 2013, 06:13 PM

I have a strange issue with with a simple crossover strategy based on Trigger Lines and UniRenko bar type. From time to time the strategy misses trades. If I restart the strategy it will mark missed trades in history as if it took them. There is no data in Ninjatrader log related to missed orders. It looks like Ninjatrader only recognizes these trades historically. Did anybody else experience this? Is there some way to avoid this?

Thanks,

W

November 7th, 2013, 07:12 PM

wahn

Hi Silvester17,

Could you create the UniRenko indicator that alerts with Wingdings (selectable size and color) and sound(high priority)?

For instance, In T2R13O1 it will alert when the current new open

1) is same as the close of previous bar,
2) or also is just one tick away from the close of previous bar in trend.

*Calculate on bar close =" False "
*doesn't need to clean up the failed historical Wingdings, but T or F option would be great.

I always appreciate for your help and valuable time.

Cheers,

wahn

or

@wahn

how many bars after a reversal do you count or wait, before thinking of committing to a position in that direction?

November 7th, 2013, 09:21 PM

i am still working on the setting also

November 7th, 2013, 09:52 PM

kronie

@wahn

how many bars after a reversal do you count or wait, before thinking of committing to a position in that direction?

@kronie,

Not sure If I understand the question as you intended. But here is my understanding of trading Renko type bars:

Unirenko or Renko type bars in general are a kind of volatility bars. Their size determine a volatility range which I think if reached there will be a breakout in that direction. One determines the bar size based on a volatility that matches one's risk comfort. If 20 tick risk is too much risk, then perhaps something smaller, but targets need to be smaller too. Therefore, it does not make sense to wait for so many bars to enter a trade after the breakout has already occurred.

Case in example; CL tends to move in ranges of 10 ticks. So, a UniRenko of the size 10 or 20 makes sense. The entry will be one tick above or below the close of the bar, simple. Otherwise if one waits and enters after so many bars, each additional bar is another 10 ticks. After 3 bars CL has already moved 30 ticks. Do you really want to enter a position there? That is three times the size of the volatility and the swing move is usually exhausted by then.

All said, I find 20 ticks move in CL (size 20) will more often result in a continuation to over 50 ticks than smaller bar size. A 10 tick size is more prone to whipsaw. But, regardless of the size, the best is to enter right after the close of the signal bar. Otherwise, the volatility range basis for selecting the bar size is totally ignored.

CHEERS!

November 8th, 2013, 12:57 AM

kronie

@wahn

how many bars after a reversal do you count or wait, before thinking of committing to a position in that direction?

kronie,

I don't wait for the bar to be completed when my all conditions are met.

Enter a 3 contracts order at 4 ticks below/above from the signal bar open
with ATM 5 ticks Stop and 8-10 ticks Target for small scalps in T2R13O1 setting.
It is just one of indicators I use along with others.

I've zipped modified UR Close & Reversal Entry with a sound file which works in the fast market.
Cheers.

wahn

November 19th, 2013, 06:40 AM

I want to add UniRenko bar type to existing MTF indicator as secondary series, unlike regular tick bar type which require only one period parameter, UniRenko requires three (Trend, Reversal, Offset), and this cannot be done in the regular way.

Any ideas how to solve this issue?

Code

protected override void Initialize()
{
Add(PeriodType.Tick, 150);
Add(PeriodType.Custom5, ?, ?, ?);
}

November 19th, 2013, 08:51 AM

wahn

kronie,

I don't wait for the bar to be completed when my all conditions are met.

Enter a 3 contracts order at 4 ticks below/above from the signal bar open
with ATM 5 ticks Stop and 8-10 ticks Target for small scalps in T2R13O1 setting.
It is just one of indicators I use along with others.

I've zipped modified UR Close & Reversal Entry with a sound file which works in the fast market.
Cheers.

wahn

Did you mean to attach your reversal indicator as a DLL?

November 20th, 2013, 12:06 PM

Tasker_182

Did you mean to attach your reversal indicator as a DLL?

Tasker_182,

Thanks for responding to consider to my request.

I don't have a preference as long as it works with other indies.

I always appreciate for your help and valuable time.

Cheers,

wahn

UniRenko, Universal Renko Bar Type

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UniRenko, Universal Renko Bar Type