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NoGapRangeBars / RangeNoGap
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NoGapRangeBars / RangeNoGap

  #21 (permalink)
 Vendor: www.innovative-trading-solutions-online.com 
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Saroj View Post
thanks RJay... all good now.. I'd like to know more about renko bars... got a reference?

like... how they affect indicators, how to know what the "real" OHLC are...

The only indicators I use are Bollinger Bands,CCI and volume and they seem really good with the renko bars.

Saroj,

Renko charts are not like most other chart types.

Other charts display market data in real time.

Renko is not a market chart. It is a price chart with an indicator built into it.

The author of Renko deserves a metal for dreaming up and developing this concept!!!

Once I grasped this concept, I began to expand on it.

I developed my own indicator charts.

RenkoMedian, RenkoLive, and ChannelTrend among others.

These chart Type files are not available so please don't ask!!!!

("RenkoMedian bars" are not to be confused with MedianRenko bars)

When I developed RenkoLive, I realized just how dangerous Renko Bars really are.

Since Renko only updates on bar close... well you know the rest.

MedianRenko bars are available to you here on this forum and my research shows them to be superior in every way to Renko.

I would also stick to even numbered tick sizes for this chart type!!!!

Just my opinion,

RJay

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  #22 (permalink)
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RJay View Post
Saroj,

Renko charts are not like most other chart types.

Other charts display market data in real time.

Renko is not a market chart. It is a price chart with an indicator built into it.

The author of Renko deserves a metal for dreaming up and developing this concept!!!

Once I grasped this concept, I began to expand on it.

I developed my own indicator charts.

RenkoMedian, RenkoLive, and ChannelTrend among others.

These chart Type files are not available so please don't ask!!!!

("RenkoMedian bars" are not to be confused with MedianRenko bars)

When I developed RenkoLive, I realized just how dangerous Renko Bars really are.

Since Renko only updates on bar close... well you know the rest.

MedianRenko bars are available to you here on this forum and my research shows them to be superior in every way to Renko.

I would also stick to even numbered tick sizes for this chart type!!!!

Just my opinion,

RJay


RJay,

Please, what's your comment on "EdsRenko" compared with "MedianRenko ? See Speculator Ed's Blog: Fixed Ed's Renko

Lolu

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  #23 (permalink)
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lolu View Post
RJay,

Please, what's your comment on "EdsRenko" compared with "MedianRenko ? See Speculator Ed's Blog: Fixed Ed's Renko

Lolu

Hi Lolu,

I went and took a look!!!

"EdsRenko Updated" is easier to look at than "MedianRenko" and that counts.

Other than that, I think its about how your indicators display on each chart that counts the most.

RJay

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  #24 (permalink)
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RJay View Post
Hi Lolu,

I went and took a look!!!

"EdsRenko Updated" is easier to look at than "MedianRenko" and that counts.

Other than that, I think its about how your indicators display on each chart that counts.

RJay

RJay,

Thanks.

I'll continue to play around with both EdsRenko and pure Renko. I'll be very careful using pure Renko until I'm able to get comfortable with it.

Lolu

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  #25 (permalink)
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RJay, what is the impact of selecting different price types (Close, Median, Typical), if any, on a Renko bar?

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  #26 (permalink)
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Saroj View Post
RJay, what is the impact of selecting different price types (Close, Median, Typical), if any, on a Renko bar?

Hi Saroj,

These inputs are for indicators. The indicator output variations depending on your selection of inputs are similar regardless of the chart type you choose.

RJay

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  #27 (permalink)
Market Wizard
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I switch to nogaprange or ed renko since I don't understand why medianrenko bar ranges vary so much.

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  #28 (permalink)
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This chart type is deceiving in the NinjaTrader backtester, because the open of the bar is the previous close, which isn't actually what the tick is at. So you get either really great results, or really bad ones, but they aren't how the strategy will actually act.

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  #29 (permalink)
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RJay, thanks for your Median Renko.

If you feel inspired, could you please explain why you think they deserve a medal?

Also, could you explain the 'rules' of the Median bar formation.

I would like to write something that can plot the point at which a new bar will be formed in either direction, similar to what I have for Range Bars. I find it very helpful with such bars. The Renkos do seem superior in terms of identifying and sticking with trend moves. But also they can take some wicked whipsaws it seems.

Am I right that these Medians essentially follow the original Renkos but just plot what is happening better versus the current action being missing until new bar is formed?

Or is there something more going on?

PS/Hint: If you feel inspired to code up something like my RangeBarHighLow (in downloads area) for your MedianR's, that would be wunderbar!

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  #30 (permalink)
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I went back in and had another try and this time it seems to have worked although as far as I can tell I am using the same coding. Maybe I had the Custom Type ID nr wrong.

In any case, please check this out to make sure it is correct before I share it in downloads section.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


It seems to be working, but sometimes the plot remains. I don't have this problem with most Range bars but I do with some contracts. Perhaps has something to do with decimals and TickSize calc. But first thing is to ensure the logic is right. Then, since you are such a good programmer, maybe you can ensure that the plots disappear after each bar and don't 'stick' there. But I tink oy gat eet.

Attached Files
Register to download File Type: zip RangeBarHighLowRenko3.zip (2.5 KB, 93 views)

Last edited by cclsys; November 24th, 2009 at 07:57 PM. Reason: replaced code 649pm EST.
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