RENKO problems

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Sinatra Fan
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RENKO problems

Postby Sinatra Fan » 24 Sep 2014

I've noticed that in real time, the renko charts run into problems. Any chance MC knows about this? can management chime in so I can point out some issues? thanks

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Andrew MultiCharts
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Re: RENKO problems

Postby Andrew MultiCharts » 24 Sep 2014

Hello Sinatra Fan,

Please explain the issue in details.

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Re: RENKO problems

Postby Sinatra Fan » 24 Sep 2014

OK, here goes...

I set up several renko charts on ES. they all had a box size of 2.00 based on fixed price, but to see which one may have been more accurate, I set the resolution to the following

chart 1: 100 tick
chart 2: 1 minute
chart 3: 30 seconds

Each chart also has two data streams... BOTH THE SAME symbol, box size and resolution, but the second data is checked off SHOW WICK... so I can see the wick along with the box.

The problems I see are as follows....

1) if the price reaches the end of the box size but is before the end of the resolution, the box does not complete and start anew. THIS IS A MAJOR problem if for some reason, the price ends up within the box dimensions at the end of the bar resolution. And ultimately bad charting is a result!

2) for some reason, the wick is almost never accurate. I can't tell you how many times I've seen the wick WAY shorter than it should be. This can't be too hard to fix within MC.

Is there a setting on MC that I'm missing that would correct these problems? If not, MC really needs to fix this!!!!!!!

Please let me know if my post here is unclear or you don't understand what I'm trying to say. This is very important.

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Andrew MultiCharts
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Re: RENKO problems

Postby Andrew MultiCharts » 24 Sep 2014

Sinatra Fan,

If the base resolutions are different for the 3 renko charts, one should not expect them to be identical, because they are built on different values. Please use 1 tick resolution to built most accurate renko chart. If you have any questions about the accuracy of the 1 tick renko chart (like its wicks), please come to our live chat during working hours (6:30 am – 2:45 pm EST) to let our operators connect to your computer remotely and help you.

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Re: RENKO problems

Postby Sinatra Fan » 26 Sep 2014

the 1 tick setting helped.

Is there anyway to tell the chart to set the first renko open value at a specific number? The reason I ask is because every time I change the start date, the renko series ends up different. Very hard to get consistency. It would be nice if there was an option in the setting of the instrument to set a starting open value for the first bar

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Re: RENKO problems

Postby Andrew MultiCharts » 26 Sep 2014

Is there anyway to tell the chart to set the first renko open value at a specific number?
Unfortunately it is not possible to do this in current version of MC. Please leave us feature request.

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MAtricks
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Re: RENKO problems

Postby MAtricks » 26 Sep 2014

This has been previously discussed. Renkos need a starting value increment. e.i., if you're using a .05 block, the blocks should start building from .05 so every block is at 100.05 to 100.1 to 100.15 and so on.

As it is, you input a .05 block and they build off of a random price (100.17 to 100.22 to 100.27 and so on) that's somewhere around the 2400hr mark of the first day in the Symbol Properties.

Please consider this.. It would make renkos usable.

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Re: RENKO problems

Postby MAtricks » 27 Sep 2014

One other thing about the renko charts that I do not quite understand is that we can only plot a certain amount of blocks. While setting the date back to 2007, my block start plotting around feb 2009...

Is there anyway around this?

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ABC
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Re: RENKO problems

Postby ABC » 28 Sep 2014

How many bars/blocks are there on the chart in this example? It might be connected to the number of bars you can load to a chart (unless Renko bars have their own registry setting).

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ABC
One other thing about the renko charts that I do not quite understand is that we can only plot a certain amount of blocks. While setting the date back to 2007, my block start plotting around feb 2009...

Is there anyway around this?

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Re: RENKO problems

Postby MAtricks » 28 Sep 2014

8054 is the number of blocks currently on my renko chart. It won't allow any further...

I'm wondering if there's a way around this?

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Re: RENKO problems

Postby MAtricks » 28 Sep 2014

My point behind this is because of the first issue of not being able to set your block interval correctly in MC. If this was fixed, that'd be exactly what I want! Since its not.. I want to be able to control this with a manipulation of data. How do we do this without the ability to go back to a certain date in time? Or how do we do this without knowing the opening time of a renko chart since there are no daily intervals on these charts?

So:

How a platform should work:
1. Can we have the blocks start on a rounded interval of the inputted block size value?
or until then:
2. What time do these blocks start on the very first block so we can change the historical data to fit our block interval?
3. How many blocks are allowed on a chart? How can we change this?

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Andrew MultiCharts
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Re: RENKO problems

Postby Andrew MultiCharts » 29 Sep 2014

One other thing about the renko charts that I do not quite understand is that we can only plot a certain amount of blocks. While setting the date back to 2007, my block start plotting around feb 2009...

Is there anyway around this?
MAtricks, do you use 1 tick base resolution for your renko chart?

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MAtricks
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Re: RENKO problems

Postby MAtricks » 29 Sep 2014

Yes. Any setting other than 1 tick resolution on renkos in MC creates a false historical chart. I've suggested remedies for this issue and built my own in the proposed form which work well, but are slow because of no ability to cache them. I wish MC would look into my suggestion, but this topic is for another day :)

Do you have any feedback for my current questions?

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Re: RENKO problems

Postby Andrew MultiCharts » 30 Sep 2014

8054 is the number of blocks currently on my renko chart. It won't allow any further...
MAtricks, do you use 1 tick base resolution for your renko chart?
Yes.
I'm wondering if there's a way around this?
Most likely you face the standard chart limitation: no more than 5 000 000 of bars per chart. In your case it is no more than 5 000 000 ticks to build the renko chart. The other case is that your data provider doesn't give you that much and you don't have data in your database.

If the limitation is the reason, you can change the value in the registry: HKEY_CURRENT_USER\Software\TS Support\MultiCharts64\Shaper
MaxBarsCount

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Re: RENKO problems

Postby MAtricks » 30 Sep 2014

Thank you for the answer. Most data providers do not give much data.. I have quite a bit :) I set the chart to look back to 2005 and it only loads until a random date in 2008, but while I load 2005-2008, it populates just fine which is what brought me to this conclusion that there was a limitation to how many bars I may populate. I'll try to change the maxbarsback setting and see what I can come up with.

I don't mean to keep this thread going, but do you have an answer or any feedback for my other two questions?

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Andrew MultiCharts
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Re: RENKO problems

Postby Andrew MultiCharts » 30 Sep 2014

1. Can we have the blocks start on a rounded interval of the inputted block size value?
or until then:
2. What time do these blocks start on the very first block so we can change the historical data to fit our block interval?
3. How many blocks are allowed on a chart? How can we change this?
  1. Unfortunately no. The first available price on chart = the starting point for building renko chart.
  2. It starts according to sessions settings applied to this chart.
  3. I believe i have covered that in my previous post.


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