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Currently Renko bars with wicks are not available in MultiCharts. However, we are considering adding more Renko bar types to MC, as was suggested in the PM system. It seems to be a high-demand feature.
MultiCharts - Raising the Trading Standard.
Please send me a private message if you have any further questions about MultiCharts
I read that there is an indicator for tradestation that does precisely what you mention and it can be downloaded from the tradestations forum but I don't have access to the tradestation forums to try it out.
TS is pretty lagging at this point. They're so huge and have such a large following that cutting edge concepts like modified Renko charts gets swamped out by the number of people who really aren't sophisticated enough to even realize what they're missing out on.
In essence, there might be 1% of the traders using TS that are advanced and sophisticated enough to even realize the benfits/capabilities of modified Renkos.
So cutting edge developments like MR charts take a long time to precipitate on a platform like TS.
It seems MC is at least more in tune with cutting edge capabilities and not resting on clients that are comfortable using basic or ho hum execution and charting. I think they've differentiated themselves to serve that market (people looking for more out of EL platform execution).
"A dumb man never learns. A smart man learns from his own failure and success. But a wise man learns from the failure and success of others."
I think it would be helpful if someone crafted a screen cap of a classic/perfect example of a traditional time bar chart, compared to a renko chart, compared to a modified renko chart. And post that on the MC PM site to illustrate what's being requested (and why)
Additionally, the major selling point is backtesting functionality, so posting a picture of ghost fills and/or ghost non fills (outside the bar where the strat would have been stopped out) would illustrate the issue.
"A dumb man never learns. A smart man learns from his own failure and success. But a wise man learns from the failure and success of others."
I believe the real solution is to allow custom bar types, like NinjaTrader does. But I am uncertain of what core changes that would require, so for sure a 'Better Renko' bar type, with correct "Open" and wicks, would be a good start and should not be difficult at all for them to add directly to the platform.
