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Script Renko reversal bar for dual role as reversal and also as a continuation bar.
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Created: by baumer Attachments:2

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Script Renko reversal bar for dual role as reversal and also as a continuation bar.

  #1 (permalink)
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Script Renko reversal bar for dual role as reversal and also as a continuation bar.

I am using Smart Renko bars, I get a premature exit when there is a pullback and should have remained either long or short. The bar sizes are 5 tick continuation and 10 tick reversal. Is there a way to script the upbar to stay short in a downtrend and the downbar to stay long in an uptrend. I have tried assigning trend,, moving averages but that did not work out. I realize its a reversal bar but it needs to have a dual role. Any Suggestions?
@bobwest, @cory


Last edited by baumer; February 21st, 2017 at 12:39 PM.
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  #2 (permalink)
Market Wizard
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baumer View Post
I am using Smart Renko bars, I get a premature exit when there is a pullback and should have remained either long or short. The bar sizes are 5 tick continuation and 10 tick reversal. Is there a way to script the upbar to stay short in a downtrend and the downbar to stay long in an uptrend. I have tried assigning trend,, moving averages but that did not work out. I realize its a reversal bar but it needs to have a dual role. Any Suggestions?
@bobwest, @cory


baumer - Wed, 30 May 2018 06:15:01 -0400
Cory, is there a bar type that exists similar to the unirenko bar that has an accurate open and close that you know of?

try betterrenko_v2 and making sure bar type = better brick
search here https://futures.io/search/attachments/


Quoting 
What I would like to find is a bar with an accurate opening but also one that does not change up and down with every dips and doodle, so that it would remain constant with the trend and then a true reversal would be twice the size of an up/down bar.
Thanks, I know if anyone could know that you would.

there is no such thing as "true reversal", but there are reversals in TF of your choosing. In this example I pick 60m vs 17 tick betterrenko, the question is would you prefer waiting 60m for a big turn or smaller TF for more turns.

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Script Renko reversal bar for dual role as reversal and also as a continuation bar.-nq-06-18-60-min-5_30_2018.jpg   Script Renko reversal bar for dual role as reversal and also as a continuation bar.-nq-06-18-17-betterrenko_v2-5_30_2018.jpg  
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betterrenko, dow, futures, ninjatrader, renko, reversals, tf, trend, type, unirenko

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