Better Renko - Mean Renko - Renko Hybrid - Own bar types

Questions about MultiCharts and user contributed studies.
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Better Renko - Mean Renko - Renko Hybrid - Own bar types

Postby SP » 04 Apr 2013

Are there any plans to implement the new renko bar styles that are available for other platforms in the near future in MC or the creation of own bar types?

Can it be done in the MC.Net Version?
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Re: Better Renko - Mean Renko - Renko Hybrid - Own bar types

Postby TJ » 04 Apr 2013

SP wrote:Are there any plans to implement the new renko bar styles that are available for other platforms in the near future in MC or the creation of own bar types?

Can it be done in the MC.Net Version?

You should be more specific on what you are expecting. Do you have a sample chart? What is the drawing logic behind this "new renko"?

Most of the range bar can be done as an indicator. It would be my preferred method, because then I can tag on my trading analysis on top of it.

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Re: Better Renko - Mean Renko - Renko Hybrid - Own bar types

Postby SP » 04 Apr 2013

The main difference to the standard renko bars is that you could have an offset of the open of the new bar. On standard renkos the open is equal to the close of the prior bar.
The second difference is that you could choose different values for trend continuation and trend reversal (Renko Hybrid, Flex Renko).

A vid of Mean Renko bars
- http://www.youtube.com/watch?v=FPaGNJcIaBs

Renko Hybrid Bars
- http://www.innovative-trading-solutions ... um-charts/

SC calls it "Flex Renko":
http://www.SC.com/supportboard ... 40&t=40295

TJ wrote:
Most of the range bar can be done as an indicator. It would be my preferred method, because then I can tag on my trading analysis on top of it.


If it is not native the plotting looks weird because you have large spaces between the calculated bars in congestion areas and small spaces in trends. It would be nice if MC could make something similar to Sierras solution.

It is even more difficult to plot indicators based on the new calculated bars.
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Re: Better Renko - Mean Renko - Renko Hybrid - Own bar types

Postby MAtricks » 04 Apr 2013

Seems like a good addition to the platform. I bet MC could add more check marks under renko bars for different types of the renko. It does seem like a lot of the competition is paying attention to the unique bar types quite a bit.
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Re: Better Renko - Mean Renko - Renko Hybrid - Own bar types

Postby SP » 10 May 2013

Added a new PM (https://www.multicharts.com/pm/viewissue ... no=MC-1334).

If you want to have this feature, please vote for it.
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Re: Better Renko - Mean Renko - Renko Hybrid - Own bar types

Postby SP » 23 Oct 2014

@TS,

i saw that this PM is under review for over one and a half years, are there any plans to built it into MC as bartypes cannot simple simulated with PLE ?

As the fixed Box Size of the Renko only needs to be changed into BoxSize-TrendOffset-ReversalOffset it can be done very fast and simple.

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Re: Better Renko - Mean Renko - Renko Hybrid - Own bar types

Postby shanemcdonald » 23 Oct 2014

I like MC renko. The ability to " slow it down " with different time frames and tick amounts is great.
I do not know of any other software that allows you to choose different ways to " fill " the renko box.

I use flexrenko regularly on SC and it is nice. I agree with that.

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Re: Better Renko - Mean Renko - Renko Hybrid - Own bar types

Postby Henry MultiСharts » 29 Oct 2014

SP wrote:@TS,

i saw that this PM is under review for over one and a half years, are there any plans to built it into MC as bartypes cannot simple simulated with PLE ?

As the fixed Box Size of the Renko only needs to be changed into BoxSize-TrendOffset-ReversalOffset it can be done very fast and simple.
Hello SP,

We will keep you updated on this PM entry.

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Re: Better Renko - Mean Renko - Renko Hybrid - Own bar types

Postby thephantom » 14 Feb 2015

Hello
Is there any update on this request? Specifically the ability for flex-renko bricks that allow for open and close offsets, such that a reversal brick does need to travel the full 2-brick distance in order to print?

Thanks.

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Re: Better Renko - Mean Renko - Renko Hybrid - Own bar types

Postby Henry MultiСharts » 18 Feb 2015

Hello thephantom,

There has been no updates on this feature so far.

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Re: Better Renko - Mean Renko - Renko Hybrid - Own bar types

Postby chilli » 07 Apr 2015

I see TS now have some very nice mean renko and custom renko bars. Just my opinion but exoctic bar types are worth using as a trader once you know the pitfalls, they filter noise and these mean renko bars are not a gimmick, it would help traders using MC. Any news on this ?
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Re: Better Renko - Mean Renko - Renko Hybrid - Own bar types

Postby Henry MultiСharts » 08 Apr 2015

Hello chilli,

There has been no updates on this feature so far.

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Re: Better Renko - Mean Renko - Renko Hybrid - Own bar types

Postby Japhro » 31 May 2016

Hello,
MC is a decent basic platform for most things, but I'm often staggered by the things it lacks that many other platforms have natively. The TPO for example is provided by a user, there are few bar types and no custom versions, and many people have asked for these for many years now. I keep trying to come back to Multicharts since I paid for it, but keep going back to SC and other platforms that simply offer more features.

Since I see posts asking for mean/hybrid/median/flex renko bars going back 5yrs or more, I would guess that there never will be plans to update the platform and bring it into the modern era, sadly.

The DOM is in need of many updates as well, and it seems MC is always telling the users to figure it out for themselves.
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Re: Better Renko - Mean Renko - Renko Hybrid - Own bar types

Postby Smoky » 01 Jun 2016

Only 3746 views !

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Re: Better Renko - Mean Renko - Renko Hybrid - Own bar types

Postby swisstrader » 02 Jun 2016

Japhro wrote:Hello,
MC is a decent basic platform for most things, but I'm often staggered by the things it lacks that many other platforms have natively. The TPO for example is provided by a user, there are few bar types and no custom versions, and many people have asked for these for many years now. I keep trying to come back to Multicharts since I paid for it, but keep going back to SC and other platforms that simply offer more features.

Since I see posts asking for mean/hybrid/median/flex renko bars going back 5yrs or more, I would guess that there never will be plans to update the platform and bring it into the modern era, sadly.

The DOM is in need of many updates as well, and it seems MC is always telling the users to figure it out for themselves.


Japhro,

Thank you for your post.

I'm a user of MultiCharts since v3 or v4 and this spring I went to NT 7 to convert my MC64 tools to C# that I can test my custom bars type ideas in NT. This conversion of my complex tools was pain in the ass, but it was it worth. The result of my tests: it is essential for successful manual chart trading and automated trading with strategies to have own bar construction algorithms.
Those custom bar types have implemented the price analysis and filtering the market and HFT noise. Also this custom bar types have the advantage in view of the big algoz which are trying to fake the market participants in knowing the typical used bar types of diverse platforms.

Let's hope, we get this feature in the next beta versions of MC v10.

Thanks.
-swisstrader
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Re: Better Renko - Mean Renko - Renko Hybrid - Own bar types

Postby emotta » 02 Jun 2016

I´m also waiting for multichart to make those changes to allow "own bar construction algorithms), not sure why they keep postponing any decision.

Eduardo J Motta
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Re: Better Renko - Mean Renko - Renko Hybrid - Own bar types

Postby CrazyNasdaq » 12 Mar 2017

Nothing new under the sun ? Any update about the RENKOs bars ?
I hope to not leave Multicharts for other platforms as NT or others which offer other different type of bars which are the new frontier to filter market noise. Please Keep this feature in the top positions of your "TO DO LIST"

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Re: Better Renko - Mean Renko - Renko Hybrid - Own bar types

Postby Smoky » 12 Mar 2017

YES CrazyNasdaq ! +1

only new thing on Renko, now we can have OHLC bar ! better than before ...

when we will use renko bar as well as regular bar, i think MC team could make better renko bar ....


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