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)
From my understandung, Renko bars is just painting based on trendiness, it is like TTMTrend. Range bars are like Volume bars, Tick bars etc. Range bars gives better view on extensive price movements. It is personal preferences, some traders are more sensitive to time, others to price range
Roonius, I'd like to hear how you describe them. I've heard them called bricks but what is your interpretation of them and how they are built and used?
Renko's purpose is to filter out the noise.
It is nothing like TTM trend or tick bars or volume bars.
I just took two screenshots of 5 tick renko and range bars of the same time range.
It's up to you to decide which looks "cleaner
renko bars are great for filtering noise and keeping you in a longer term trend but as with any form of sampling you are sacrificing signal fidelity and low latency for smoothness so be careful when selecting your sampling frequency (range).
i have a futures strategy which uses roonius' implementation of renko bars with great success ( btw thanks roonius :P )
i find that renko is counterproductive on forex however where there is much more noise, you have to take on too much lag to filter most of it out and then you also miss out on the 'tradeable noise'
on forex i like 'point original' bars, which are basically just range bars without the extra spacing ticks in between.
