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Marty, all the indicators react best to the original Ninja Renko. 2 Renko and 3 Renko are best for day - trading. If you use ' Smart Renko ' ' Better Renko ' or whatever they are called, you will not receive these rich signals. I have tested them all with the same set of indi's. Based on Ninja Renko they work best.
It is even possible, that Sierra's Renko - formula does not create same results.
Regards
Klaus
Can you help answer these questions from other members on NexusFi?
Thanks for responding all the way from Germany. One of my clocks is Frankfort time, as I enjoy trading Dax on Frankfort open through our CME. A friend of mine in Houston, TX was born in Berlin. She speaks German, I don't!
I am sure you are correct on this statement: It is even possible, that Sierra's Renko - formula does not create same results.
Given the many ways to construct a bar or study (Aslan cf Anthony on Renko) and many bar types (attachment 1 and Renko:
I happened to stumble across this website from a NT email announcing new third party partners. Although I wasn't interested in indicators, the LogikRenko--their offering of an improved version of the classic Renko--was intriguing.
…
), testing any environment is imperative.
I was comparing volume bars with Renko both with an Heiken-Ashi computation on each, respectively this morning. Interestingly, I found in quiet times that a 25 or 50 bar volume chart adds some perspective to impending action. But the 2 tick Renko, as you pointed out, was certainly useful. The arrows on attachment 2, Region 1 are based on price hi's and lo's (up arrows are: =IF(AND(C4<C5,D4<D5,AV4<AV5),E4,""), c = hi, d = low of the bar, av is a fisher transform rsi). Sorting out mid range "false" turns is an ongoing study.
For the originator of this thread, here is another interesting link, posts 1 and 2, concerning the difference between Renko and range bars, conceptually.
Renko bars and range bars are very similar. You just need to double the range of the Renko bars to obtain very similar range bars. For example compare 5 ticks Renko with 10 ticks range bars.
