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Ode' to Renko
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Ode' to Renko

  #11 (permalink)
Just a boy
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White Line - Yellow Dots


mainstream View Post
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Hi Mainstream,

What is the white solid line closely following the bars?

What is the indicator producing the yellow dot lines?

PS: what is the instrument and bar size?

Thanks

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  #12 (permalink)
Elite Member
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Lars View Post
I prefer feature-rich LogicRenko. Ideal for manual and auto trading.

Why?......and compared to what?

 
  #13 (permalink)
Elite Member
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steve2222 View Post
Hi Mainstream,

What is the white solid line closely following the bars?

What is the indicator producing the yellow dot lines?

PS: what is the instrument and bar size?

Thanks

The white line is the famous SUPER TREND. The dots are the now equally as famous ADXMA. The instrument is the 6E and its a 4 tick bar.


aslan
I always use BetterRenko as a base because I know the data is real. I have not seen a single other NT-based renko flavor that can say that (despite what Zoe says).

What do mean the data isn't real? Please explain.

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  #14 (permalink)
Elite Member
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mainstream View Post
What do mean the data isn't real? Please explain.

See the Better Renko thread for more info, but it basically has to do with how the bars are built vs displayed. Most renkos will insert dummy data when there are gaps, and the other main difference is the actual value of the open of the bar. Both of these are pertinent when trying to backtest.

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  #15 (permalink)
Elite Member
Chicago, IL
 
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Thanks for the quick reply. Seems like it's elite only....

I suppose that is more relevant the higher the time frame you're working with. Backtest... what about forward testing or live analysis?

 
  #16 (permalink)
Elite Member
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mainstream View Post
Thanks for the quick reply. Seems like it's elite only....

I suppose that is more relevant the higher the time frame you're working with. Backtest... what about forward testing or live analysis?

Yes, sorry about the elite reference.

The issue with gaps is dummy data is inserted to fill in the bars (also where you get some of those nice waterfalls). For real time trading, this is only an issue if you are trading at session boundaries or news. For backtesting, it is an issue if you do not take it into account (i.e. check for bars with zero volume, or block out certain times).

The second issue is the lack of what I call the wick data. In NT, the renko bar is built and the open and close are maintained, but there are several issues, including the open may not be the true open of the bar, all of the data outside the open-close is not there (tail of the bars), and in some cases the volume of the bar is incorrect. Ninja is aware of these issues and has chosen to provide them as is. When I first started looking at this issue, I came up with WickedRenko, but I found that it still had flaws, and moved onto BetterRenko. Obviously missing wick data will affect backtesting.

Finally, many of the implementations do not maintain the correct open value, and instead store the "renko open" so the bar can be displayed correctly. This does not really affect most indicators, as they generally use the close of the bar. This can be a major issue with backtesting though, depending how the code is written. For example, if your strategy enters at the next bars open you are not going to get accurate results.

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  #17 (permalink)
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Moderator Note
Let's not split thread topics please. This thread is about a poem, lets keep discussion about Better Renko in the Better Renko thread so it is easier to find in the future.

-- Big Mike


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  #18 (permalink)
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DPRK
 
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Poem?

Seems to me the thread is about Renko bars. The poem simply described the OP's feelings about Renko bars.

Dear OP,

Are posts about Renko bars on or off-topic? Do you want us to discuss poetry instead? Please clarify.

 
  #19 (permalink)
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Jeff Castille View Post
compared to what?

Compared to every NT bar, native and third party. All of this is strictly personal preference. There is no right or wrong. Does it help you make money? That is the true test of value, not some mathematical mumbo jumbo.

 
  #20 (permalink)
Site Administrator
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Lars View Post
Seems to me the thread is about Renko bars. The poem simply described the OP's feelings about Renko bars.

Dear OP,

Are posts about Renko bars on or off-topic? Do you want us to discuss poetry instead? Please clarify.

If this thread is about renko, then the entire thread is a duplicate of existing threads such as this one:
https://futures.io/traders-hideout/191-renko.html

And will be closed to prevent splitting topics over threads.

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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