Bar Type - futures io
futures io



Bar Type


Discussion in NinjaTrader

Updated
    1. trending_up 1,033 views
    2. thumb_up 3 thanks given
    3. group 3 followers
    1. forum 2 posts
    2. attach_file 3 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Bar Type

(login for full post details)
  #1 (permalink)
 bodhiboo 
Melbourne
 
Experience: Intermediate
Platform: NT7
Trading: ES, NQ
 
Posts: 1 since Jan 2018
Thanks: 0 given, 0 received

Just wondering if anyone knows what this bar type is and how I can get it? See attached

Attached Thumbnails
Click image for larger version

Name:	bartype.PNG
Views:	60
Size:	61.7 KB
ID:	304136  
Started this thread Reply With Quote

Journal Challenge April 2021 results (now extended!):
Competing for $1800 in prizes from Jigsaw
looks_oneMaking a Living with the Microsby sstheo
(76 thanks from 10 posts)
looks_twoSalao's Journalby Salao
(23 thanks from 5 posts)
looks_3Deetee’s DAX Trading Journal (time based)by Deetee
(15 thanks from 7 posts)
looks_4Learning to Profit - A journey in algorithms and optionsby Syntax
(12 thanks from 7 posts)
looks_5Becoming a day trader (PA, volume profile, footprint etc.)by JirkaF
(0 thanks from 2 posts)
 
Best Threads (Most Thanked)
in the last 7 days on futures io
The Crude Dude Oil Trading System
73 thanks
futures io site changelog and issues/problem reporting
68 thanks
Would You Sell Your System?
65 thanks
FIO Journal Challenge - April 2021 w/Jigsaw Trading
30 thanks
Big Mike in Ecuador
25 thanks
 
(login for full post details)
  #2 (permalink)
 sharmas 
Auckland
 
Experience: Advanced
Platform: Ninja Trader
Broker: Zen-Fire
Trading: CL and ES
 
Posts: 764 since Apr 2010
Thanks: 3,793 given, 735 received


bodhiboo View Post
Just wondering if anyone knows what this bar type is and how I can get it? See attached

Looks like Unirenko or could be ninZaRenko

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #3 (permalink)
 Fat Tails 
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,855 since Mar 2010
Thanks: 4,238 given, 26,742 received



bodhiboo View Post
Just wondering if anyone knows what this bar type is and how I can get it? See attached

Your chart shows a renko bar with a dynamic ratio for tick trend / tick reversal and wicks added. There are about 8 - 10 different implementations of such bars available
Some of them are free downloads, but those are typically flawed to some extent.


One of the best known free implementation for dynamic Renko bars is UniRenko. It is a free download, and there are at least two different versions:

(download section https://futures.io/)
https://ninjatraderecosystem.com/user-app-share-download/unirenko-universal-renko-bartype-8/ (NinjaTrader EcoSystem)

However, both versions are flawed:

- highs and lows are not always detected
- the cumulated volume is not correct, as gaps are filled with bars that have a fake volume
- the bars cannot be correctly synchronized in multi-bar series scripts because the time stamp is not taken from the last transaction
- the bars cannot be backtested (backtests are totally false when using market orders)

However, you may use them for discretionary trading, as they will well approximate price action. However, you should not use them for systems trading.

You will find other dynamic renko bars from different 3rd party vendors that do work correctly and can be backtested.

Attached are two charts created with two different bar types.



ES 09-20 (UniR T2R14) 2020_08_14 (15_43_06)


ES 09-20 (Lizard T2R14) 2020_08_14 (15_43_12)

Reply With Quote
The following 3 users say Thank You to Fat Tails for this post:


futures io Trading Community Platforms and Indicators NinjaTrader > Bar Type


Last Updated on August 17, 2020


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Journal Challenge w/$1,800 in prizes!

April
 

Seven Trading Mistakes Solved With Smart Trading Tools w/Brannigan Barrett

Elite only
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts