Here is a nice little code, finally I am proud of it !
Indeed in my beginnings, it was impossible for me to create Renko on prices.
What is the point of creating a Renko, as this graph can be already displayed on ProRealTime ?
Well, simply because PRT can not backtest from Renko ! This means that we must create ourself a corresponding indicator.
That’s the purpose of this code, so you can backtest many strategies based on Renko, at last !
This indicator has fixed-size boxes, that’s the “why” of its name. Actually, he still uses the closing price. It would be perfect if it used the current price whatsoever at any time. But I do not see me using other than the command “close” to determine the price at a given time. For this graph and for example, I put this on the DAX, with fixed boxes of 100 points.
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boxsize = 100 // à paramétrer selon la valeur. //Exemple 100 points pour le DAX, 0.0020 point pour l'EUR/USD, etc. once upbox = close once downbox = close - boxsize IF close crosses over upbox + boxsize THEN upbox = upbox + boxsize downbox = downbox + boxsize ELSIF close crosses under downbox - boxsize THEN upbox = upbox - boxsize downbox = downbox - boxsize ENDIF RETURN upbox as "UP Box", downbox as "DOWN Box" |
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I just see that there is an issue with some boxes, because of very BIG candles.
The box remains as itself without moving, until the price crosses the other side.
I will work on it.If someone knows the solution, it would be great.
You can see attached picture at the bottom of the page :
http://www.doctrading.fr/code-renko-fixed-sur-prix/
It surely comes from the “crosses” instruction because it tests if a cross occur with a close on the previous candle, but do no test if the close is effectively above or below the tested level.
You are right.
Just replace “crosses over” by “>” and “crosses under” by “<“, and it works !
Super short code, thank you. However, there is still a small issue when the difference of close and the old box limits is bigger than 2 * boxsize. The following improved code fixes this and makes this Renko indicator entirely identical to the built-in version :
boxsize = 100
once upbox = close
once downbox = close - boxsize
IF close >= upbox + boxsize THEN
downbox = downbox + (round(((close - upbox) / boxsize) - 0.5)) * boxsize
upbox = upbox + (round(((close - upbox) / boxsize) - 0.5)) * boxsize
ELSIF close <= downbox - boxsize THEN
upbox = upbox - (round(((downbox - close) / boxsize) - 0.5)) * boxsize
downbox = downbox - (round(((downbox - close) / boxsize) - 0.5)) * boxsize
ENDIF
RETURN upbox as \"UP Box\", downbox as \"DOWN Box\"
HI ALL,
This new code (that someone generously sent to me by email) fixes the bug :
boxSize = 20
// On aime bien que les valeurs des Renko soient “rondes”…
once renkoMax = ROUND(close / boxSize) * boxSize
once renkoMin = renkoMax – boxSize
IF close crosses over renkoMax + boxSize THEN
WHILE close > renkoMax + boxSize
renkoMax = renkoMax + boxSize
renkoMin = renkoMin + boxSize
WEND
ELSIF close crosses under renkoMin – boxSize THEN
WHILE close < renkoMin - boxSize
renkoMax = renkoMax - boxSize
renkoMin = renkoMin - boxSize
WEND
ENDIF
RETURN renkoMax as "Renko Max", renkoMin as "Renko Min"
By the way… the code isn’t perfect :
The renko will be updated only if the CLOSE is > or < the renko brick.
Do you have any idea to make the renko display update with the CURRENT PRICE, not the close ?
Best regards,
Use Highs and Lows instead
This new code with highs and lows seems to work :
boxSize = 20
// On aime bien que les valeurs des Renko soient “rondes”…
once renkoMax = ROUND(close / boxSize) * boxSize
once renkoMin = renkoMax – boxSize
IF high > renkoMax + boxSize THEN
WHILE high > renkoMax + boxSize
renkoMax = renkoMax + boxSize
renkoMin = renkoMin + boxSize
WEND
ELSIF low < renkoMin - boxSize THEN
WHILE low < renkoMin - boxSize
renkoMax = renkoMax - boxSize
renkoMin = renkoMin - boxSize
WEND
ENDIF
RETURN renkoMax as "Renko Max", renkoMin as "Renko Min"
Gentlemen,
just a quick question. When I am adding this column to my code, PRT shows an error and some command with an underline:
ELSIF low < renkoMin - boxSize THEN WHILE low < renkoMin - boxSize renkoMax = renkoMax - boxSize renkoMin = renkoMin - boxSize WEND ENDIF RETURN renkoMax as "Renko Max", renkoMin as "Renko Min"
Any ideas why?
Rgds,