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UniRenko, Universal Renko Bar Type


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UniRenko, Universal Renko Bar Type

  #621 (permalink)
 VictorK 
Milton, On, Canada
 
Experience: Intermediate
Platform: Ninjatrader
Broker: Interactive brokers, Kinetick
Trading: EC, ES, YM, NQ, CL
Posts: 45 since Nov 2009
Thanks Given: 453
Thanks Received: 110

@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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  #622 (permalink)
 
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 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
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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://forum.ninjatrader.com/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's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,172 since Jan 2013
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Thanks Received: 26,292



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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  #624 (permalink)
 jmcg618 
New York / USA
 
Experience: Intermediate
Platform: Ninjatrader
Trading: es
Posts: 33 since Aug 2017
Thanks Given: 2
Thanks Received: 11


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://forum.ninjatrader.com/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 
New York / USA
 
Experience: Intermediate
Platform: Ninjatrader
Trading: es
Posts: 33 since Aug 2017
Thanks Given: 2
Thanks Received: 11


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)
 
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 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,172 since Jan 2013
Thanks Given: 57,513
Thanks Received: 26,292


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 
New York / USA
 
Experience: Intermediate
Platform: Ninjatrader
Trading: es
Posts: 33 since Aug 2017
Thanks Given: 2
Thanks Received: 11


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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  #628 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,172 since Jan 2013
Thanks Given: 57,513
Thanks Received: 26,292


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
Brisbane Queensland Australia
 
Posts: 220 since Aug 2017
Thanks Given: 167
Thanks Received: 380

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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  #630 (permalink)
 
xplorer's Avatar
 xplorer 
London UK
Site Moderator
 
Experience: Beginner
Platform: CQG
Broker: S5
Trading: Futures
Posts: 5,980 since Sep 2015
Thanks Given: 15,506
Thanks Received: 15,420


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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