Renko Charts

• 12/21/2018 at 4:52 PM #87569
  SwissTrader

  Hi,

  is it possible to set-up Renko charts so they are not based on a time unit?

  

  SwissTrader

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  12/21/2018 at 5:04 PM #87572
  Pierre

  Hi,

  By displaying the Renko in view “Tick by Tick”, it will evolve based on price movements and will ignore the time factor. This corresponds to the “normal” use of Renko charts.

  Example of a Renko Chart in Tick by Tick mode:

  

  The platform also allows to display Renko Charts based on time units. In this case, the Renko will take into account only 1 price per period (to choose in the properties window). This mode is not “standard” but was requested by users who wished to view the Renko Charts on longer time period than what Tick by Tick allows.

  Example of a Renko Chart applied to the median price of a 1-hour chart:

  

  Note that such a use does not mean that a new box is created every hour, but that the evolution of the Renko is determined by the median price of each hour instead of taking into account all ticks.

  Regards,

  Pierre

  

  Pierre

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  10/17/2019 at 4:02 PM #110413
  gram

  HI,

  Thanks for your posts. Coluild I just ask if when choosing Renko charts, whether it is possible to create them based on log, tick, and time values?

  Thanks,

  gram

  

  gram

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  10/18/2019 at 10:02 AM #110468
  Nicolas

  @gram It is possible to be more precise please? Since Renko bricks are just following the up and down (as “stair steps”) price movement, how do you consider using tick and time values please?

  

  Nicolas

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  10/18/2019 at 10:16 AM #110471
  gram

  Hi Nicolas,

  Thanks for your response.

  I am working out whether to subscribe to PRT. I have done so before, but at the moment I do not have access to the software on my broker’s platform.  So I cannot see the screen where you choose the type of variables to create the Renzo chart. This makes not hard to be precise about the choices.

  However to be as precise as I can, I need to know whether I can calculate the size of the bricks, NOT just on agiven price value, but on a log calculation (e.g., 1% of current values). Hope this is clearer.

  Thanks,

  gram.

  

  gram

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  10/18/2019 at 1:10 PM #110497
  Nicolas

  Yes you can use points, % and ATR(new in v11) to determine the renko brick size.

  

  Nicolas

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  10/18/2019 at 1:32 PM #110502
  gram

  Oh, great Nicolas. In which case, I’ll go ahead and sign up.

  Cheers,

  gram

  

  gram

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  02/10/2020 at 11:41 AM #119157
  guidocir

  I have displayed Renko charts using tick by tick in order to be indipendent from time, but it is useless.

  In fact it is not possible to use box dimensions greater than a significant value (for example 1% or 0,5 PIPs) other than ATR(x).

  How can I overcome this issue?

  Many thanks,

  Guido

  

  guidocir

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  07/18/2020 at 3:08 PM #139565
  Dymjohn

  Hi Nicolas,

  I am interested in using a Renko chart which has an overlap per convensional Renko but also incorporates tails or wicks. I can get this is Ninjatrader and I have copied a screen shot from that program but the file is too big. The picture is of a 8/4 Renko although this should be capable of being changed e.g. 4/2 ,12/6 etc.

  I have tried using the file called “PRC_Renko bricks with wicks” but this produces a line of bricks at the same level until a new one is drawn tried several settings but doesn’t work on anything including tick by tick.

  Can you help?

  regards

  John

   

  

  Dymjohn

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