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Renko Bars Worth Using?
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Renko Bars Worth Using?

 
Market Wizard
virginia
 
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TravelingSalesmen View Post
lollolololol "it get filled"

...
trying to sell us some software or something mate?

I am not renko software developer and I have been on this since the beginning. I was the very first member uploaded my indicator VolStop for general use. What are you trying to imply?

 
 
Trading Apprentice
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cory View Post
I am not renko software developer and I have been on this since the beginning. I was the very first member uploaded my indicator VolStop for general use. What are you trying to imply?

it was a joke... but i see you took it litterally. sorry for the misunderstanding.

 
 
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cory View Post
try renkospectrum, it get filled
innovative-trading-solutions-online.com/new/renkospectrum-charts/

Thanks @cory, I'll give it a shot.

 
 
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Follow up on Renko Spectrum bars:
innovative-trading-solutions-online.com/new/renkospectrum-charts/

[1] Yes, these bars do get filled.

[2] With the purchase you actually get a package that includes both Version 1 and 2 of the Spectrum bars.

With the Version 2 bars, you have several options that allows you to change the appearance of the bars.

**The purchase was not cheap by any means, but I'm quite happy with my purchase.

The following user says Thank You to Fugitive69 for this post:
 
 
Trading Apprentice
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Fugitive69 View Post
Follow up on Renko Spectrum bars:
innovative-trading-solutions-online.com/new/renkospectrum-charts/

[1] Yes, these bars do get filled.

[2] With the purchase you actually get a package that includes both Version 1 and 2 of the Spectrum bars.

With the Version 2 bars, you have several options that allows you to change the appearance of the bars.

**The purchase was not cheap by any means, but I'm quite happy with my purchase.

so what would be the difference between this chart and any of the other charts?

 
 
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TravelingSalesmen View Post
so what would be the difference between this chart and any of the other charts?

I would say the differences are subtle but enough to impact trading results day to day. Some Renko bar types do a pretty good job at the entry but not the exit. With others it's vice versa. These bars allow a decent fill in both directions.

Another note - it might depend upon what version of NT8 you are using. The last time I updated NT8 one of my Renko bar types behaved differently than before the update. It's pretty tricky stuff.

I spend a lot of time looking at the individual bar data. What was the close of the previous bar, what was the open the current bar, etc. When back testing a strategy the fill normally takes place on bar open. But when live testing it doesn't always work out that way as we all know.

So for my purposes I hone in on the individual bar data as closely as possible. It can make or break a strategy.

 
 
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Fugitive69 View Post
I would say the differences are subtle but enough to impact trading results day to day. Some Renko bar types do a pretty good job at the entry but not the exit. With others it's vice versa. These bars allow a decent fill in both directions.

Another note - it might depend upon what version of NT8 you are using. The last time I updated NT8 one of my Renko bar types behaved differently than before the update. It's pretty tricky stuff.

I spend a lot of time looking at the individual bar data. What was the close of the previous bar, what was the open the current bar, etc. When back testing a strategy the fill normally takes place on bar open. But when live testing it doesn't always work out that way as we all know.

So for my purposes I hone in on the individual bar data as closely as possible. It can make or break a strategy.

Ya ya i agree.. i also tried to figure out a way to get the backtest engine to fill on the close of the bar rather than the open of the next but i couldn't make any progress on any bar type. so i just accept it as a limitation of NT... which is stupid. i mean how hard is it to add a tick box that says fill on bar close or next bar open...

 
 
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TravelingSalesmen View Post
Ya ya i agree.. i also tried to figure out a way to get the backtest engine to fill on the close of the bar rather than the open of the next but i couldn't make any progress on any bar type. so i just accept it as a limitation of NT... which is stupid. i mean how hard is it to add a tick box that says fill on bar close or next bar open...

When building strategies I know it is possible to use the condition: IsFirstTickOfBar.

Sometimes it comes in handy, but in essence it is equivalent to using CalculateOnBarClose. As far as strategies go I've never been able to create anything that does something else besides CalculateOnBarClose.

Now it is possible to setup a multi-time frame strategy. All trades are executed on the primary data series, say a 3 minute chart. The secondary data series might be something like a 15 second chart. In a case such as this you can execute a trade intra-bar. The 15 second chart would trigger a trade on the 3 minute chart.

However, I've not been able to set up Renko bars for use as a secondary data series for some reason. The strategy builder does not allow this. I suppose an experienced coder could accomplish that task but I am unable to do so.

 
 
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Fugitive69 View Post
When building strategies I know it is possible to use the condition: IsFirstTickOfBar.

Sometimes it comes in handy, but in essence it is equivalent to using CalculateOnBarClose. As far as strategies go I've never been able to create anything that does something else besides CalculateOnBarClose.

Now it is possible to setup a multi-time frame strategy. All trades are executed on the primary data series, say a 3 minute chart. The secondary data series might be something like a 15 second chart. In a case such as this you can execute a trade intra-bar. The 15 second chart would trigger a trade on the 3 minute chart.

However, I've not been able to set up Renko bars for use as a secondary data series for some reason. The strategy builder does not allow this. I suppose an experienced coder could accomplish that task but I am unable to do so.

i was going to try multi time frame for renko but then i decided against it just cause i really didn't see the value over traditional bars. but ya anyway best of luck with your new renko's keep us posted!

 
 
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iantg View Post
I think the only way to safely use exotic bar types would be to use them as indicators to cut out the noise but still execute trades on more granular prices. So for both testing and live trading you would know full well what the prices where at any point in time, but the exotic bar type could be a secondary data point like an indicator. The failure of back-testing comes when you use the exotic bar type as your primary data series. In this case it cuts the noise so much that it only sees green when you are really red and vice versa. Simple back-testers fail miserably if you set this as your primary data series. But if you put this on a secondary data series just for analysis... You might be able to work with it.

Ian

Hi,
I use SiProRenkoBars in my strategies (together with my indicators), all of them coded by me. I
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