I like UniRenko bars and use them a lot on my charts, I even coded one for SierraCharts...

They may have backtesting flaws but I don't run backtests :-)

I just wanted to add that one of the reasons you must be very careful if you try a backtest is that they know the future.

If you have a unirenko closing green, you *know* that next bar will go 1 tick higher, so if you program a strategy that buys on close, and sells 1 tick higher, and use no slippage and optimistic fills, you have a 100% winning system yey :-)

So IMO you must really understand how they work , use enough slippage, if you want to use them in backtesting...

Its actual simple to remove the open offset, and change them to close on touch within the code. If you do this, they will backtest just fine. Although one must be careful backtesting any strategy to make sure they are true results.

Sent using the NexusFi mobile app

We are talking about different things.

If you are doing discretionary trading, I'm sure unirenko is fine. However when it comes to automated trading using strategy analyzer and doing walk-forward testing with backtests that are accurate and reliable, it simply is not acceptable, even with slippage.

WoodyFox 

Its actual simple to remove the open offset, and change them to close on touch within the code. If you do this, they will backtest just fine. Although one must be careful backtesting any strategy to make sure they are true results. Sent using the NexusFi mobile app

Would you please explain how to accomplish this: " change them to close on touch within the code."

Thank you.

justtrader 

Would you please explain how to accomplish this: " change them to close on touch within the code." Thank you.

UniRenko, Universal Renko Bar Type In this thread, I am posting my Universal Renko bar type implementation. I have been using it exclusively in my trading for a while now, and have had many requests for it. I wanted a more flexible Renko bar that could be customized in a particular way …

Post #13.

Would a good soul convert ReversalBar_V2 to NT8?

UniRenko, Universal Renko Bar Type Rudy, here it is

Thanks in advance