Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Yes, the Renko bar type is part of the default NinjaTrader installation. There are also custom bar types out there that work with NinjaTrader, such as Better Renko, which most people prefer over the default ones.
lol noooo way, I threw something together with the swing indicator to distinguish higher highs and lower lows, a macdaddy indicator for divergence, and a linear regression for overall trend. Seems to work best with another time frame like 2 renko chart compare with a 4 renko chart. I also find there are a lot of break out/ wedge patterns that are helpful with renko to identify price testing stops I assume. Just having some fun with market replay.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
You should be careful with Renko bars. A Renko bar is not showing true price action. These are some points to consider
- there may have been no trades at the open of a Renko bar
- there may have been no trades at the high of a Renko bar
- there may have been no trades at the low of a Renko bar
- there may have been no trades at the close of a Renko bar
- a Renko chart does not show the correct high of any period
- a Renko chart does not show the correct low of any period
Think of Renko as a visualization of a trend. Renko bars are fake. Also Renko bars cannot be backtested, as you actually do not know what is happening behind the glitter.
If you apply indicators to Renko charts, you will typically get false results. Remember that the highs and lows are not detected. Any Fibonacci retracements, current highs and lows, a Donchian channel will be false.
The solution is indeed BetterRenko. In Better Renko the glitter has been separated from the substance. The Better Renko bars convey exact information on open, high, low and close of each bar. You can then apply the chart style Better Brick to produce the glitter, but you will still see the tails indicating open, high and low of the bars.
Let me saya BIG thanks for the time / thoughts / indicator tweaks and creations posted here .
Legendary sums it up indeed.
Would you share your opinion of the Median Renko bars and also the Hybrid Renko offered by RJay.
Good day 2 you
..."Median Renko bars and also the Hybrid Renko offered by RJay"...
- please search here on nexusfi.com (formerly BMT) for the SBS renko / median renko treads...
- while commercial selled by RJay, for his type here exist open only a describe of his calulation logic... please search UNIrenko and you well find the documented universal logic for all published renkos
or view this, here i discribe "al" renko's as one logical type with 3 parameters...
