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renko bars vs range bars?
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Created: by shodson Attachments:6

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renko bars vs range bars?

  #21 (permalink)
Elite Member
Germany
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Zen-Fire
Favorite Futures: CL,GC,6E
 
Posts: 45 since Jan 2010
Thanks: 44 given, 23 received


marty001 View Post
The attached screenshot shows this issue in Sierra Chart (SC). It happens that in this instance I have used Aslan's Better Renko on a Renko bar that SC has added to their bar styles. But if I remove the Better Renko study, the Renko bars update with each tick. I am not sure how that will ultimately impact autotrading, especially autotrading from my spreadsheet (not applicable here), just an observation.

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

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  #22 (permalink)
Elite Member
los angeles
 
Futures Experience: Advanced
Platform: sc
Favorite Futures: silver
 
Posts: 9 since Mar 2012
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Klausi View Post
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

Hi Klaus,

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: https://futures.io/vendors-product-reviews/6556-purelogiktrading.html), 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.

Difference between Range bars and Renko bars.

Good Trading,
Marty

Attached Thumbnails
renko bars vs range bars?-bar-styles.jpg   renko bars vs range bars?-renko-testing.jpg  
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