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Renko
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Created: by TheWizard Attachments:8

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Renko

  #11 (permalink)
 Vendor: www.tradingstudies.com 
Denver, CO
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Amp Futures/Zen-Fire
Favorite Futures: TF, ES, CL
 
roonius's Avatar
 
Posts: 132 since Jun 2009
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cory View Post
looking good Jay, how about renko with HL.
ps just saw roonious' comment, first thanks for the tape channel indicator but I have to disagree with your renko comment its purpose is to keep you in trend and filter out the noise. from looking at the new renko i see it has the same purpose and more.

I am not talking about purpose, just definition.

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  #12 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
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TheWizard,

Are you still using Renko bars? I found a lot of value in them in general, but was too accustomed to volume bars for my large chart to make the switch. I was very excited about them in the beginning but there were a too few many times where the extra lag was too much.

Maybe I was not using them in the best manner -- placing them on my biggest chart. Maybe due to their extreme noise reduction + a big chart is not the best combination. Something to consider.

I wonder how others are using them?

Mike

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  #13 (permalink)
Market Wizard
Houston, TX
 
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Big Mike View Post
TheWizard,

Are you still using Renko bars? I found a lot of value in them in general, but was too accustomed to volume bars for my large chart to make the switch. I was very excited about them in the beginning but there were a too few many times where the extra lag was too much.

Maybe I was not using them in the best manner -- placing them on my biggest chart. Maybe due to their extreme noise reduction + a big chart is not the best combination. Something to consider.

I wonder how others are using them?

Mike

Mike,
No. Gave up on them. Noise reduction was the temptress there, but I didn't like not knowing where price was at any given time. I developed the Holy Grail system (I'm sure you've been keeping up on the thread. Made some enhancements, Rjay made / suggested some today, which I implemented & posted to the thread along with the chart template. Working quite well. Probably won't return to Renko, but I was intrigued by it.

After all, it's what you learn AFTER you know it all, that counts!
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  #14 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
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Posts: 46,240 since Jun 2009
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TheWizard View Post
Mike,
No. Gave up on them. Noise reduction was the temptress there, but I didn't like not knowing where price was at any given time. I developed the Holy Grail system (I'm sure you've been keeping up on the thread. Made some enhancements, Rjay made / suggested some today, which I implemented & posted to the thread along with the chart template. Working quite well. Probably won't return to Renko, but I was intrigued by it.

Thanks for the update. Renko shouldn't be used as your only bar type, you should always have multiple time frames/charts open and. Just like Heiken Ashi bars have value, but can't reliably be used to determine price hi/lo on a certain bar and would require a unaltered bar type of some sort.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #15 (permalink)
 Vendor: www.innovative-trading-solutions-online.com 
Hartford, CT. USA
 
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FYI,

I may not know when to give up.

I am still doing research on a range chart that builds Renko bars tick by tick.

I can see it in my imagination.

Learning how to program it is a killer.

Persistance will pay off.

Keep your fingers crossed.

RJay

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  #16 (permalink)
Market Wizard
Houston, TX
 
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RJay View Post
FYI,

I may not know when to give up.

I am still doing research on a range chart that builds Renko bars tick by tick.

I can see it in my imagination.

Learning how to program it is a killer.

Persistance will pay off.

Keep your fingers crossed.

RJay

Rjay, Thanks for all you efforts! Please let me know (if) when you succeed. I'd love to give it a test run.

After all, it's what you learn AFTER you know it all, that counts!
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  #17 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
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cory's Avatar
 
Posts: 5,220 since Jun 2009
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Forum Reputation: Legendary


Quoting 
...
Maybe I was not using them in the best manner -- placing them on my biggest chart. Maybe due to their extreme noise reduction + a big chart is not the best combination. Something to consider.

I wonder how others are using them?

Mike

you hit the nail right on the head, try smallest instead the biggest here is renko on .25 range chart.
http://www.sierrachart.com/userimages/upload_2/1248842619_94_UploadImage.png

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  #18 (permalink)
Elite Member
Sandwich MA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: NQ
 
topstep's Avatar
 
Posts: 22 since Jun 2009
Thanks: 3 given, 6 received

I like this version of Renko

Check out this version for Renko that updates the last bar:

Speculator Ed's Blog: Ed's Renko Indicator

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  #19 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
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cory's Avatar
 
Posts: 5,220 since Jun 2009
Thanks: 628 given, 6,318 received
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point-o looks great.

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  #20 (permalink)
 Vendor: www.innovative-trading-solutions-online.com 
Hartford, CT. USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: AMP/CQG, Kinetick
Favorite Futures: TF
 
RJay's Avatar
 
Posts: 677 since Jun 2009
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cory View Post
point-o looks great.

PointO is available in the downloads - misc section on this forum.

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