Issues with Renko ATR bars

Hello,

I'm new to MC and would like to note a few basic issues I found with the Renko charts.

1. First issue with bars plotting before they actually close. please see the screenshot below, I plotted the close price of the renko chart on the 5 min chart and you can see the plot is way above the Highs and Lows of the 5 minute bar and that's because the renko bar is plotting the close of the coming bar before it happened, this messes up all trades as they enter early always giving a better entry (would be great if it can actually predict so perfectly lol). (This happens with Close setting only and not OHLC also, I only tested this with ATR renko not fixed)


2. I noticed an issue on the Renko charts at the beginning of new sessions, see attached screenshot I added an indicator with the range of the renko bar range using 5000 ticks ATR range along with the ATR of 5000 tick chart in data2. Notice how the first bars on 4/3 and 4/7 are much larger (Range 31, ATR 17) than the actual ATR. The screenshot I attached is using the OHLC setting but it happens with the close setting as well.

Upon further looking into this issue I realized that this happens only when using break on session and what I figured out that what happens is the ATR restarts from the new session and its its only using ATR 1 on the first bar and ATR 2 on the second bar and so on and the renko range does match this calculation. This should be fixed to have the ATR continue using previous bars in the new session.

Here is an attachment of my screenshot showing the issue



Thanks,
Moe

Hello Moe,

1. When you plot Renko on OHLC values, Renko bars include the lows and highs of the bar. If you plot Renko on Close, Renko will be plotted on Close values only, so this is expected behavior.
2. Range indicator is calculated from the beginning of the data series, while ATR Renko with Break On Session box enabled is calculated from the beginning of each new session. So this behavior is also expected.

For more info about Renko please see this page.

Hello Moe,

1. When you plot Renko on OHLC values, Renko bars include the lows and highs of the bar. If you plot Renko on Close, Renko will be plotted on Close values only, so this is expected behavior.
2. Range indicator is calculated from the beginning of the data series, while ATR Renko with Break On Session box enabled is calculated from the beginning of each new session. So this behavior is also expected.

For more info about Renko please see this page.

Hello and thanks for your response.

Regarding issue number 1 I will rephrase it again because there is no way this is expected behavior.
The renko bar is plotting into the future before it happened, for example it is showing the bar close at 5PM when it only closed at 5:05 and all entries are happening a bar earlier than in reality and skewing all the results.

Regarding issue number 2. I strongly disagree this is normal as this messes up the entire calculation by having the first bars off like that, if you do insist on only using the new bars then it shouldn't start at all till you have 14 bars in the new session, but in no way does it make sense to use a 1 bar range when I'm using a 14 bar average.

Thanks,
Moe

Moe,

1. I will forward the description of this behavior to the engineers so that they can check it on our end.
2. If you’d like it to work as you described, please uncheck the ‘Break on Session’ box.