Hi,
Is Renko chart type in MC the BetterRenko chart type by default as described in https://www.multicharts.com/pm/viewissu ... _no=MC-501? If not, what options I need to select to set Renko to BetterRenko? Can I assume that with MC's BetterRenko, backtesting is actually with real prices as "BetterRenko" suggests?
Thanks,
Jun
BetterRenko chart type
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Henry MultiСharts
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Re: BetterRenko chart type
Hello Jun,
Based on the mentioned PM entry the following options were added:
Based on the mentioned PM entry the following options were added:
- Show 'Phantom' Bars
- Show Wick
- Show Real Open
Re: BetterRenko chart type
Thank for the useful information.
It seems that when backtesting or paper trading, it always use the prices from the first brick. Sometime, many bricks are plotted at once due to large price movement (after the specified interval is passed), it should use the prices from the last brick for order generation (or P&L calculation). Is there a setup to enforce this?
Thanks,
Jun
It seems that when backtesting or paper trading, it always use the prices from the first brick. Sometime, many bricks are plotted at once due to large price movement (after the specified interval is passed), it should use the prices from the last brick for order generation (or P&L calculation). Is there a setup to enforce this?
Thanks,
Jun
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Henry MultiСharts
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Re: BetterRenko chart type
Jun,
Are you referring to historical calculation or realtime calculation?
Are you referring to historical calculation or realtime calculation?
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Henry MultiСharts
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Re: BetterRenko chart type
The signal is calculated on each brick in backtesting. How do you check that only the first brick is used for calculation? If the order is filled on the first brick from a set of bricks into the same direction then order fill conditions are met on it. You can try changing the order generation condition to have the order filled on the next bricks.
Please also check the following article: Intra-Bar_Order_Generation,_Bar_Magnifier_on_Non-Standard_Chart_Types
Please also check the following article: Intra-Bar_Order_Generation,_Bar_Magnifier_on_Non-Standard_Chart_Types
Re: BetterRenko chart type
This is a renko bar with 300 ticks timeframe.
Please see the attached screenshot. On the right, it is real trading, on the left it is simulated trading. Take a look at where MC places the signal entry point A in the real trading / simulated trading. As the timeframe is not 1 tick, so at the end of each timeframe (in this case, it is 300 ticks), MC plots a series of bricks (depending on the price movement, this can vary). What happens here is that MC always takes the first brick as the entry point (regardless use next bar market or this bar close order) in the simulated trading / backtesting, in real trading, it places the marker (or place the order at the last brick), that is correct. In the simulated trading, MC should also place trade at the last of bricks of the series bricks in a timeframe. This is more realistic than what MC does currently. In the simulated trading/backtesting, A should be placed at the B brick.
Not sure if there is any setup in MC that can be used to control this, if not, the current backtesting method is not really reliable as you can see from the graph attached as an example.
This is what I observed, please take a look and let me know if my observation is correct.
Thanks,
Jun
Please see the attached screenshot. On the right, it is real trading, on the left it is simulated trading. Take a look at where MC places the signal entry point A in the real trading / simulated trading. As the timeframe is not 1 tick, so at the end of each timeframe (in this case, it is 300 ticks), MC plots a series of bricks (depending on the price movement, this can vary). What happens here is that MC always takes the first brick as the entry point (regardless use next bar market or this bar close order) in the simulated trading / backtesting, in real trading, it places the marker (or place the order at the last brick), that is correct. In the simulated trading, MC should also place trade at the last of bricks of the series bricks in a timeframe. This is more realistic than what MC does currently. In the simulated trading/backtesting, A should be placed at the B brick.
Not sure if there is any setup in MC that can be used to control this, if not, the current backtesting method is not really reliable as you can see from the graph attached as an example.
This is what I observed, please take a look and let me know if my observation is correct.
Thanks,
Jun
- Attachments
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- Renko Bar Backtesting (Real vs simulated).PNG
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Re: BetterRenko chart type
Jun,
Do not back-test the MC renkos on any setting besides 1tick resolution with orders at the close of the bar.
The current implementation of these blocks do not allow a reliable test for any other setting.
Do not back-test the MC renkos on any setting besides 1tick resolution with orders at the close of the bar.
The current implementation of these blocks do not allow a reliable test for any other setting.
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Smoky
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Re: BetterRenko chart type
MAtricks, backtest with renko use only four ticks (OHLC) (even with tick resolution !) that so, bar magnifier, don't work with renko and with all non regular bar !
all will work fine in renko backtest when MC team will play renko backtest with tick by tick 'calculation' !
it's the only way to have same backtest/realtime orders ...
all will work fine in renko backtest when MC team will play renko backtest with tick by tick 'calculation' !
it's the only way to have same backtest/realtime orders ...
Re: BetterRenko chart type
MAtricks, thanks for the advice. however I think it will be very useful if MC team can make "order" simulation in forward testing close to real-time trading, i.e. place order at the last brick of a brick series. In this case, one can at least forward test a strategy (more or less reliably) without having to do live-trading.
Re: BetterRenko chart type
There is a pile of things that the MC team could do to improve the unique bar types. I was just instructing how to use them as they are.
With all the requests and complaints, I'm unsure why little has been done with this... They take such good care of us in all other requests!
With all the requests and complaints, I'm unsure why little has been done with this... They take such good care of us in all other requests!
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Henry MultiСharts
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Re: BetterRenko chart type
Jun, there is no way to configure the current behavior.Not sure if there is any setup in MC that can be used to control this, if not, the current backtesting method is not really reliable as you can see from the graph attached as an example.
This improvement has been added to our to-do list. It is targeted to MultiCharts 9.0MC should also place trade at the last of bricks of the series bricks in a timeframe. This is more realistic than what MC does currently. In the simulated trading/backtesting, A should be placed at the B brick.