Are Renko wicks accurate?
Are Renko wicks accurate?
I've been watching Renko bars with wicks form in real time. Sometimes there is a wick forming for a while, but then it disappears. Why is this, and can I trust the wicks that I see historically?
Re: Are Renko wicks accurate?
Could it be that I have ’Input -> Close’ ?
Would no wicks disappear if I choose ’Input -> OHLC’ ?
(I’m away from my computer this weekend so can’t test it myself right now )
Would no wicks disappear if I choose ’Input -> OHLC’ ?
(I’m away from my computer this weekend so can’t test it myself right now )
Re: Are Renko wicks accurate?
I now understand that no wicks will disappear if I choose OHLC. I will also get more bars printed.
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Re: Are Renko wicks accurate?
Hello Axel,
You're right. For Renko data series, when a real-time bar closes, it is expected for the wicks to disappear if in Format -> Instrument -> Settings tab -> you have Close selected for Input. In that case Renko bars are built by Close bars of the base resolution that you’ve selected, HL of the base resolution is lost.
If in Format -> Instrument -> Settings tab -> you select OHLC for Input and enable Show Wick, you’ll see all the wicks.
More info on Renko here.
You're right. For Renko data series, when a real-time bar closes, it is expected for the wicks to disappear if in Format -> Instrument -> Settings tab -> you have Close selected for Input. In that case Renko bars are built by Close bars of the base resolution that you’ve selected, HL of the base resolution is lost.
If in Format -> Instrument -> Settings tab -> you select OHLC for Input and enable Show Wick, you’ll see all the wicks.
More info on Renko here.