Renko bars - incorrect closes  [SOLVED]

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MAtricks
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Renko bars - incorrect closes

Postby MAtricks » 30 Apr 2013

I had an issue with a smaller renko chart so I pulled up a renko bar with significant size to look at the issue clearer. It seems that during a session break, the renko closes reset in real time to the open price. I just watched this happen on my screen.

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renkos with "real opens and tails" - same issue

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This seems like a fairly critical bug to leave alone for too long..?
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Henry MultiСharts
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Re: Renko bars - incorrect closes

Postby Henry MultiСharts » 30 Apr 2013

Hello MAtricks,

Please attach the workspace you are using.
In QuoteManager select the symbol you are using, make a right click on it->Export data->Export instrument (settings only, no data).

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Re: Renko bars - incorrect closes

Postby MAtricks » 30 Apr 2013

As you requested:
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Re: Renko bars - incorrect closes

Postby MAtricks » 05 May 2013

Engineers are looking at this. Thank you, Henry.

While we're on the topic, I've noticed that several variations of the bar/box types need work. I love that MC is working toward getting workable unique bar types and different variations of them, but they're not quite up to parr yet.

Can we look at making sure the unique bar types have a legitimate CLOSE and legitimate OPEN? Without those, they're nothing but a pretty (or ugly) chart that's useful for next to nothing in this business.

Here for example. Renkos with a more than 1 tick resolution - great idea for filtering out noise, but we need closes (and opens if "Real Open is selected). This seems like it could be a pretty powerful feature. I'd like to see it testable.

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So the Close is not legitimate, lets try the Open:

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The engineers have done great work upgrading the unique bars, but there's some work to be done on these...
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Re: Renko bars - incorrect closes

Postby MAtricks » 06 May 2013

Show Real Open doesn't work with Phantom bars turned on.

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Re: Renko bars - incorrect closes

Postby MAtricks » 07 May 2013

Something didn't look quite right while looking at the renko option with the time resolution. So I turned on a silly strategy in demo to test where the real closes were. Sure enough, I watched the bars stretch out well beyond their set increment even though the selected resolution was well over. I watched the bars "close" almost halfway into the next bar and then repaint a perfect bar behind them while the price was well beyond that already.

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I really like the idea behind these renkos with a time filter. Neat idea... and MC has exclusively built them in a way that might be very favorable, but as I stated in an earlier message, we need to have a CLOSE and/or an OPEN that's reliable. Otherwise, it's simply a useless feature....
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Re: Renko bars - incorrect closes

Postby Henry MultiСharts » 07 May 2013

Show Real Open doesn't work with Phantom bars turned on.

Image
We are checking this behavior.

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Re: Renko bars - incorrect closes

Postby Henry MultiСharts » 07 May 2013

Something didn't look quite right while looking at the renko option with the time resolution. So I turned on a silly strategy in demo to test where the real closes were. Sure enough, I watched the bars stretch out well beyond their set increment even though the selected resolution was well over. I watched the bars "close" almost halfway into the next bar and then repaint a perfect bar behind them while the price was well beyond that already.

Image

I really like the idea behind these renkos with a time filter. Neat idea... and MC has exclusively built them in a way that might be very favorable, but as I stated in an earlier message, we need to have a CLOSE and/or an OPEN that's reliable. Otherwise, it's simply a useless feature....
That is expected behavior. Quote from Renko wiki article:
MultiCharts 8.1 and any further version implementation: depending on the selected resolution the current box may be huge in real-time and not match your box size, but when the selected in resolution bar (1 day for instance) is closed, you'll see a lot of boxes of the specified box size instead of that huge one.

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Re: Renko bars - incorrect closes

Postby MAtricks » 07 May 2013

How is the repainting of boxes beneficial when we already had the correct price? This turns something useable into something that's not beneficial at all. It's fake...

Example of my opinion of where I wish these bars/boxes were:
-The OPEN will be equal to the previous close and will not ever move (an open doesn't change in real time so why let it flutter around and then paint somewhere else when the bar closes?)
-The bar's CLOSE isn't painted until the time resolution has occurred regardless of the price movement. Once the time interval has been reached, price is looked at. There are only a few options:
1. Point/Pip increment hasn't been reached - No CLOSE - A CLOSE will now occur the instant that the point/pip increment has been reached
2. Point/pip increment was already reached and surpassed - CLOSE happens the instant of time interval reached at the price it's currently at. (this will be a larger bar, but expected, testable, and useable with a time interval). No repainting or changing of anything. This is simply part of filtering price with time and time with price.

There's a reliable renko with resolution for you... A back-test would be reliable and in return it would be utilized by the traders buying MC. I guess most of that would be covered if "Show Tails" and "Show Real Open" worked.


The close and open should be at the actual price of that time or price. Either that or don’t paint a box. NOTHING should be painted on my platform’s chart that is fake. When a renko is set with a time restriction (resolution setting), we know that the box cannot be perfect 100% of the time. If the box is “huge” as the Wiki says, then let it be “huge” as long as we have something that’s testable, useable, and tradable! What were they thinking when the engineers decided to erase the huge box and repaint it into the imputed box size? Have a large box that’s the real price –vs- having a bunch of small fake boxes plotted randomly and at inaccurate prices?? Give them these charts, have them fund a trading account, and tell them to trade with what they built :). They’d never risk a dollar on their own implementation of a renko with resolution.

If I create a simple “buy on green close/sell on red close” strategy, I want it to buy and sell on the price that the closes show me. I don’t want it to buy and sell on prices that are complete unknown because my platform repaints bars/boxes.

I’m unsure how it looks from the platform developers perspective, but from someone who pushes a platform it it’s limits (I’ve used almost every platform on the market), I see these issues as a no-brainer.

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Re: Renko bars - incorrect closes  [SOLVED]

Postby Henry MultiСharts » 27 Jun 2013

Show Real Open doesn't work with Phantom bars turned on.
It seems that during a session break, the renko closes reset in real time to the open price. I just watched this happen on my screen.
These issues have been resolved in MultiCharts 8.7 Beta 2


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